Weiss Asset Management LP Purchases New Position in The Middleby Corporation $MIDD

Weiss Asset Management LP purchased a new position in shares of The Middleby Corporation (NASDAQ:MIDD) in the 1st quarter, Holdings Channel reports. The firm purchased 34,900 shares of the industrial products company’s stock, valued at approximately $4,627,000.

Other hedge funds also recently modified their holdings of the company. Renaissance Technologies LLC increased its position in Middleby by 1,572.9% in the 1st quarter. Renaissance Technologies LLC now owns 205,270 shares of the industrial products company’s stock valued at $27,215,000 after acquiring an additional 193,000 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Middleby by 14.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 563,554 shares of the industrial products company’s stock worth $74,716,000 after purchasing an additional 72,086 shares during the period. Bank of Nova Scotia acquired a new position in shares of Middleby during the first quarter worth $397,000. Sei Investments Co. grew its stake in shares of Middleby by 6.5% in the first quarter. Sei Investments Co. now owns 803,383 shares of the industrial products company’s stock worth $106,514,000 after purchasing an additional 49,228 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in Middleby by 15.1% in the first quarter. Cetera Investment Advisers now owns 4,923 shares of the industrial products company’s stock valued at $653,000 after purchasing an additional 646 shares during the period. Institutional investors and hedge funds own 98.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MIDD. Canaccord Genuity Group set a $200.00 price objective on Middleby in a research report on Friday, May 8th. Wall Street Zen raised shares of Middleby from a “hold” rating to a “buy” rating in a research report on Monday, July 20th. KeyCorp set a $152.00 price target on shares of Middleby in a report on Tuesday, July 14th. Robert W. Baird lowered shares of Middleby from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Middleby in a research report on Friday, May 1st. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Middleby has a consensus rating of “Moderate Buy” and an average target price of $173.88.

Middleby Price Performance

Shares of MIDD opened at $133.88 on Monday. The business’s fifty day moving average is $153.08 and its 200 day moving average is $150.38. The Middleby Corporation has a 12-month low of $110.82 and a 12-month high of $180.13. The company has a quick ratio of 1.10, a current ratio of 1.96 and a debt-to-equity ratio of 0.77. The stock has a market cap of $6.05 billion, a P/E ratio of -15.79 and a beta of 1.33.

Middleby (NASDAQ:MIDD) last released its quarterly earnings results on Thursday, May 7th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.22. The business had revenue of $839.91 million during the quarter, compared to the consensus estimate of $777.19 million. Middleby had a positive return on equity of 15.94% and a negative net margin of 11.46%.The company’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.08 EPS. Middleby has set its FY 2026 guidance at 9.540-9.700 EPS and its Q2 2026 guidance at 2.270-2.390 EPS. Sell-side analysts anticipate that The Middleby Corporation will post 9.54 earnings per share for the current fiscal year.

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.