Strs Ohio Lowers Stock Holdings in The Middleby Corporation $MIDD

Strs Ohio lowered its stake in The Middleby Corporation (NASDAQ:MIDD) by 91.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,205 shares of the industrial products company’s stock after selling 12,965 shares during the period. Strs Ohio’s holdings in Middleby were worth $160,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. KLP Kapitalforvaltning AS boosted its stake in Middleby by 0.9% in the 2nd 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 in the last quarter. Allworth Financial LP lifted its stake in shares of Middleby by 168.8% in the second quarter. Allworth Financial LP now owns 207 shares of the industrial products company’s stock worth $30,000 after buying an additional 130 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in shares of Middleby by 0.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 19,358 shares of the industrial products company’s stock valued at $2,788,000 after buying an additional 131 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Middleby by 7.8% during the third quarter. Sequoia Financial Advisors LLC now owns 1,900 shares of the industrial products company’s stock valued at $253,000 after acquiring an additional 138 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in Middleby by 1.6% in the 2nd quarter. Hantz Financial Services Inc. now owns 10,193 shares of the industrial products company’s stock worth $1,468,000 after acquiring an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Middleby Stock Up 2.5%

NASDAQ MIDD opened at $153.67 on Wednesday. The Middleby Corporation has a 12 month low of $110.82 and a 12 month high of $182.73. The company has a current ratio of 2.07, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. The stock has a market cap of $7.74 billion, a PE ratio of -34.93 and a beta of 1.40. The stock’s 50 day moving average is $144.34 and its 200 day moving average is $136.64.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings results on Thursday, November 6th. The industrial products company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.03 by $0.34. The business had revenue of $982.13 million for the quarter, compared to analysts’ expectations of $961.21 million. Middleby had a negative net margin of 5.22% and a positive return on equity of 14.66%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.33 EPS. Middleby has set its FY 2025 guidance at 8.990-9.140 EPS and its Q4 2025 guidance at 2.190-2.340 EPS. Research analysts predict that The Middleby Corporation will post 9.11 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert A. Nerbonne bought 780 shares of the company’s stock in a transaction dated Tuesday, December 9th. The stock was purchased at an average price of $128.52 per share, for a total transaction of $100,245.60. Following the acquisition, the director owned 21,471 shares in the company, valued at $2,759,452.92. This trade represents a 3.77% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 6.18% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on MIDD shares. Canaccord Genuity Group lifted their price objective on Middleby from $171.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Middleby in a research note on Monday, December 29th. Wall Street Zen raised shares of Middleby from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Zacks Research cut shares of Middleby from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Middleby in a research report on Friday, December 5th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Middleby presently has a consensus rating of “Moderate Buy” and an average target price of $163.83.

Middleby Company Profile

Middleby Corporation is a global manufacturer and distributor of commercial foodservice and food processing equipment. The company designs, engineers and markets a wide range of cooking, baking, refrigeration, warewashing, holding and dispensing solutions. Middleby’s products serve restaurants, hotels, convenience stores, institutional cafeterias, cruise ships and other foodservice operators.

The company’s portfolio spans multiple well-known brands, including Blodgett ovens, TurboChef rapid‐cook ovens, Southbend ranges and broilers, Pitco fryers, and Viking residential and commercial kitchen appliances.