67,067 Shares in JBT Marel Corporation $JBTM Bought by Bastion Asset Management Inc.

Key Points

• Bastion Asset Management bought 67,067 shares of JBT Marel in the first quarter, a position valued at about $8.56 million and representing 2.6% of its portfolio.
• JBT Marel shares were up 2.9% in Friday trading, and the stock has ranged from $113.67 to $170.19 over the past year.
• The company beat quarterly earnings expectations, reporting $1.58 EPS versus the $1.49 estimate, while revenue rose 9.6% year over year to $936 million.

Bastion Asset Management Inc. purchased a new position in shares of JBT Marel Corporation (NYSE:JBTM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 67,067 shares of the company's stock, valued at approximately $8,561,000. JBT Marel makes up about 2.6% of Bastion Asset Management Inc.'s portfolio, making the stock its 10th biggest holding. Bastion Asset Management Inc. owned 0.13% of JBT Marel at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of JBTM. Congress Asset Management Co. lifted its position in shares of JBT Marel by 5.6% in the fourth quarter. Congress Asset Management Co. now owns 493,139 shares of the company's stock valued at $74,301,000 after buying an additional 26,161 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in JBT Marel by 9,103.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 23,376 shares of the company's stock valued at $3,522,000 after acquiring an additional 23,122 shares during the period. Gildi lifeyrissjodur acquired a new stake in JBT Marel during the 4th quarter valued at $170,862,000. Bessemer Group Inc. lifted its holdings in JBT Marel by 127.3% during the 4th quarter. Bessemer Group Inc. now owns 386,767 shares of the company's stock valued at $58,275,000 after purchasing an additional 216,602 shares during the last quarter. Finally, Royce & Associates LP boosted its position in JBT Marel by 4.4% during the fourth quarter. Royce & Associates LP now owns 668,588 shares of the company's stock worth $100,736,000 after purchasing an additional 28,335 shares during the period. Institutional investors own 98.92% of the company's stock.

JBT Marel Trading Up 2.9%

Shares of NYSE:JBTM opened at $138.50 on Friday. The business's 50 day simple moving average is $132.92 and its 200 day simple moving average is $141.12. JBT Marel Corporation has a 1 year low of $113.67 and a 1 year high of $170.19. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.01 and a quick ratio of 0.61. The company has a market capitalization of $7.21 billion, a P/E ratio of 43.28, a P/E/G ratio of 1.41 and a beta of 0.94.

JBT Marel (NYSE:JBTM - Get Free Report) last released its earnings results on Monday, May 4th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.09. JBT Marel had a return on equity of 8.25% and a net margin of 4.32%.The company had revenue of $936.00 million for the quarter. During the same period last year, the company posted $0.97 earnings per share. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. JBT Marel has set its FY 2026 guidance at 8.000-8.500 EPS. On average, research analysts anticipate that JBT Marel Corporation will post 8.26 EPS for the current fiscal year.

JBT Marel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 26th were given a $0.10 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. JBT Marel's payout ratio is presently 12.50%.

Wall Street Analyst Weigh In

JBTM has been the subject of a number of research reports. Weiss Ratings cut shares of JBT Marel from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, June 5th. Zacks Research downgraded shares of JBT Marel from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 28th. Oppenheimer initiated coverage on JBT Marel in a research report on Thursday, May 21st. They issued an "outperform" rating and a $175.00 target price on the stock. Wall Street Zen cut JBT Marel from a "buy" rating to a "hold" rating in a report on Sunday, June 21st. Finally, Seaport Research Partners set a $165.00 price objective on JBT Marel in a report on Thursday, May 21st. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $174.67.

About JBT Marel

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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