Assenagon Asset Management S.A. Buys 26,741 Shares of The Middleby Corporation $MIDD

Assenagon Asset Management S.A. increased its stake in The Middleby Corporation (NASDAQ:MIDD) by 820.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,001 shares of the industrial products company’s stock after buying an additional 26,741 shares during the quarter. Assenagon Asset Management S.A. owned about 0.06% of Middleby worth $3,988,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. lifted its holdings in shares of Middleby by 12.5% in the 1st quarter. Russell Investments Group Ltd. now owns 14,742 shares of the industrial products company’s stock worth $2,241,000 after acquiring an additional 1,640 shares during the last quarter. Northern Trust Corp raised its position in Middleby by 2.2% in the 1st quarter. Northern Trust Corp now owns 503,045 shares of the industrial products company’s stock worth $76,453,000 after purchasing an additional 10,780 shares during the period. Ameriprise Financial Inc. lifted its stake in Middleby by 33.3% in the first quarter. Ameriprise Financial Inc. now owns 488,238 shares of the industrial products company’s stock worth $74,202,000 after purchasing an additional 121,945 shares during the last quarter. AlphaQuest LLC boosted its position in shares of Middleby by 114.9% during the first quarter. AlphaQuest LLC now owns 1,414 shares of the industrial products company’s stock valued at $215,000 after buying an additional 756 shares during the period. Finally, FORA Capital LLC bought a new position in shares of Middleby during the first quarter valued at approximately $476,000. Institutional investors own 98.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MIDD shares. Wolfe Research set a $163.00 price target on Middleby and gave the stock an “outperform” rating in a research note on Thursday, September 4th. KeyCorp reiterated an “overweight” rating on shares of Middleby in a research note on Friday, December 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Middleby in a research note on Monday, December 15th. Wall Street Zen raised shares of Middleby from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Zacks Research raised shares of Middleby from a “strong sell” rating to a “hold” rating in a research report on Monday, October 27th. Five 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $161.33.

Middleby Stock Performance

Shares of Middleby stock opened at $150.50 on Tuesday. 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’s fifty day moving average price is $127.97 and its 200-day moving average price is $135.49. The firm has a market cap of $7.58 billion, a P/E ratio of -34.20 and a beta of 1.39. The Middleby Corporation has a 12 month low of $110.82 and a 12 month high of $182.73.

Middleby (NASDAQ:MIDD) last issued its earnings results on Thursday, November 6th. The industrial products company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.34. The company 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 firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business 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. On average, equities research analysts expect that The Middleby Corporation will post 9.11 earnings per share for the current fiscal year.

Insider Activity

In other Middleby news, Director Robert A. Nerbonne acquired 780 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were bought at an average cost of $128.52 per share, with a total value of $100,245.60. Following the completion of the acquisition, the director directly owned 21,471 shares in the company, valued at $2,759,452.92. This represents a 3.77% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.18% of the company’s stock.

Middleby 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.