Ancora Advisors LLC Makes New Investment in The Middleby Corporation $MIDD

Key Points

• Ancora Advisors LLC acquired 155,785 Middleby shares during the second quarter, valued at approximately $26.8 million and representing a 0.34% stake. Institutional investors collectively own 98.55% of the company.
• Middleby reported quarterly EPS of $2.35, exceeding the $2.09 consensus estimate, while revenue reached $875.6 million but declined 10.5% year over year.
• Shares opened at $113.97, near their 52-week low, as analyst sentiment averaged “Hold” with a consensus price target of $160.38.

Ancora Advisors LLC bought a new position in shares of The Middleby Corporation (NASDAQ:MIDD - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 155,785 shares of the industrial products company's stock, valued at approximately $26,797,000. Ancora Advisors LLC owned 0.34% of Middleby as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its holdings in Middleby by 14.3% during the first quarter. The Manufacturers Life Insurance Company now owns 67,926 shares of the industrial products company's stock worth $9,006,000 after acquiring an additional 8,524 shares during the period. Hsbc Holdings PLC acquired a new position in Middleby in the fourth quarter valued at approximately $2,464,000. Sei Investments Co. lifted its holdings in Middleby by 6.5% in the first quarter. Sei Investments Co. now owns 803,383 shares of the industrial products company's stock valued at $106,514,000 after acquiring an additional 49,228 shares during the period. Fifth Third Bancorp boosted its position in Middleby by 272.0% in the 1st quarter. Fifth Third Bancorp now owns 32,441 shares of the industrial products company's stock worth $4,301,000 after purchasing an additional 23,721 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its position in Middleby by 237.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 24,980 shares of the industrial products company's stock worth $3,714,000 after purchasing an additional 17,586 shares in the last quarter. Hedge funds and other institutional investors own 98.55% of the company's stock.

Middleby Stock Down 1.1%

Shares of NASDAQ MIDD opened at $113.97 on Wednesday. The company's 50-day simple moving average is $140.47 and its 200-day simple moving average is $146.30. The Middleby Corporation has a 52-week low of $110.82 and a 52-week high of $180.13. The firm has a market cap of $5.15 billion, a price-to-earnings ratio of -12.31 and a beta of 1.32. The company has a quick ratio of 1.10, a current ratio of 1.99 and a debt-to-equity ratio of 0.88.

Middleby (NASDAQ:MIDD - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The industrial products company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.26. Middleby had a negative net margin of 13.22% and a positive return on equity of 17.44%. The firm had revenue of $875.55 million during the quarter, compared to the consensus estimate of $836.99 million. During the same quarter in the prior year, the firm earned $2.35 EPS. The company's revenue for the quarter was down 10.5% on a year-over-year basis. Middleby has set its Q3 2026 guidance at 1.670-1.830 EPS and its FY 2026 guidance at 6.730-6.890 EPS. Equities analysts predict that The Middleby Corporation will post 6.85 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on MIDD. Wall Street Zen cut shares of Middleby from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Seaport Research Partners set a $145.00 price objective on shares of Middleby in a report on Wednesday, August 12th. Canaccord Genuity Group set a $157.00 price objective on shares of Middleby and gave the stock a "buy" rating in a research report on Wednesday, August 12th. 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, Jefferies Financial Group dropped their target price on Middleby from $200.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, July 8th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Middleby presently has an average rating of "Hold" and an average price target of $160.38.

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.

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