The Middleby Corporation $MIDD Shares Acquired by Strs Ohio

Strs Ohio raised its stake in shares of The Middleby Corporation (NASDAQ:MIDD) by 17.1% during the second quarter, HoldingsChannel reports. The firm owned 14,170 shares of the industrial products company’s stock after purchasing an additional 2,072 shares during the quarter. Strs Ohio’s holdings in Middleby were worth $2,040,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Burgundy Asset Management Ltd. raised its stake in Middleby by 5.0% in the 1st quarter. Burgundy Asset Management Ltd. now owns 1,604 shares of the industrial products company’s stock worth $244,000 after acquiring an additional 77 shares during the last quarter. Signaturefd LLC raised its stake in shares of Middleby by 23.7% in the second quarter. Signaturefd LLC now owns 418 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 80 shares during the last quarter. TCTC Holdings LLC raised its stake in shares of Middleby by 116.7% in the first quarter. TCTC Holdings LLC now owns 169 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 91 shares during the last quarter. Xponance Inc. raised its stake in shares of Middleby by 1.6% in the first quarter. Xponance Inc. now owns 6,223 shares of the industrial products company’s stock worth $946,000 after purchasing an additional 99 shares during the last quarter. Finally, KLP Kapitalforvaltning AS raised its stake in shares of Middleby by 0.9% in the second quarter. KLP Kapitalforvaltning AS now owns 11,000 shares of the industrial products company’s stock worth $1,584,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MIDD shares. Wolfe Research set a $163.00 price target on shares of Middleby and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Middleby in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised their target price on shares of Middleby from $125.00 to $140.00 and gave the stock an “underweight” rating in a report on Tuesday, October 14th. Zacks Research raised Middleby from a “strong sell” rating to a “hold” rating in a research report on Monday, October 27th. Finally, Wall Street Zen downgraded Middleby from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Middleby presently has an average rating of “Hold” and an average target price of $165.00.

Middleby Stock Down 0.2%

MIDD stock opened at $122.12 on Wednesday. The firm has a market cap of $6.19 billion, a PE ratio of 15.54 and a beta of 1.52. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.56 and a current ratio of 2.57. The firm’s fifty day moving average is $134.10 and its 200 day moving average is $138.95. The Middleby Corporation has a one year low of $118.09 and a one year high of $182.73.

Middleby (NASDAQ:MIDD) last posted its earnings results on Wednesday, August 6th. The industrial products company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.15. Middleby had a return on equity of 14.14% and a net margin of 11.06%.The firm had revenue of $977.86 million for the quarter, compared to analysts’ expectations of $979.59 million. During the same period last year, the firm earned $2.39 EPS. The company’s quarterly revenue was down 1.4% on a year-over-year basis. On average, research analysts forecast that The Middleby Corporation will post 9.11 EPS for the current year.

About Middleby

The Middleby Corporation designs, markets, manufactures, distributes, and services foodservice, food processing, and residential kitchen equipment worldwide. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, and rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment; and fry dispensers, bottle filling and canning equipment, IoT solutions, and controls development and manufacturing.