2,261 Shares in JBT Marel Corporation $JBTM Acquired by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC acquired 2,261 shares of JBT Marel Corporation valued at approximately $272,000 during the second quarter, increasing interest in the stock amongst hedge funds.
• JBT Marel recently declared a quarterly dividend of $0.10 per share, resulting in an annualized yield of 0.3%, despite a negative dividend payout ratio of -17.47%.
• Analysts currently rate JBT Marel with a consensus "Moderate Buy" and an average target price of $156.00, with some analysts predicting earnings per share of 5.21 for the current year.

Janney Montgomery Scott LLC acquired a new position in JBT Marel Corporation (NYSE:JBTM - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,261 shares of the company's stock, valued at approximately $272,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Congress Asset Management Co. purchased a new stake in JBT Marel during the 2nd quarter valued at $53,515,000. PineStone Asset Management Inc. purchased a new stake in JBT Marel during the 2nd quarter valued at $10,490,000. State of Alaska Department of Revenue purchased a new stake in JBT Marel during the 2nd quarter valued at $3,308,000. Smith Chas P & Associates PA Cpas purchased a new stake in JBT Marel during the 2nd quarter valued at $1,853,000. Finally, Avior Wealth Management LLC purchased a new stake in JBT Marel during the 2nd quarter valued at $1,002,000. 98.92% of the stock is currently owned by hedge funds and other institutional investors.

JBT Marel Stock Performance

NYSE:JBTM opened at $131.73 on Tuesday. The stock has a 50-day simple moving average of $139.95 and a two-hundred day simple moving average of $125.58. JBT Marel Corporation has a 52-week low of $90.08 and a 52-week high of $148.76. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.53 and a current ratio of 0.93. The firm has a market capitalization of $6.85 billion, a PE ratio of -57.52, a P/E/G ratio of 1.80 and a beta of 1.21.

JBT Marel (NYSE:JBTM - Get Free Report) last released its quarterly earnings results on Tuesday, February 22nd. The company reported $1.02 earnings per share (EPS) for the quarter. JBT Marel had a positive return on equity of 7.96% and a negative net margin of 5.08%.The business had revenue of $439.40 million during the quarter. Analysts forecast that JBT Marel Corporation will post 5.21 EPS for the current year.

JBT Marel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. JBT Marel's dividend payout ratio (DPR) is currently -17.47%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on JBTM shares. Weiss Ratings reiterated a "hold (c-)" rating on shares of JBT Marel in a research note on Wednesday, October 8th. William Blair upgraded shares of JBT Marel from a "market perform" rating to an "outperform" rating in a research note on Wednesday, August 6th. Finally, Robert W. Baird set a $169.00 target price on shares of JBT Marel in a research note on Friday, October 3rd. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $156.00.

JBT Marel Profile

JBT Marel Corporation provides technology solutions to food and beverage industry in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers value-added processing that includes chilling, mixing/grinding, injecting, blending, marinating, tumbling, flattening, forming, portioning, coating, cooking, frying, freezing, extracting, pasteurizing, sterilizing, concentrating, high pressure processing, weighing, inspecting, filling, closing, sealing, end of line material handling, and packaging solutions to the food, beverage, and health market.

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