Bridges Investment Management Inc. Acquires Shares of 2,871 JBT Marel Corporation $JBTM

Key Points

• Bridges Investment Management Inc. acquired 2,871 shares of JBT Marel Corporation valued at approximately $345,000 in the second quarter.
• JBT Marel reported a negative net margin of 5.08% and a revenue of $439.40 million during its last quarterly earnings.
• The company announced a quarterly dividend of $0.10 per share, representing a yield of 0.3% and a dividend payout ratio of -17.47%.

Bridges Investment Management Inc. bought a new position in shares of JBT Marel Corporation (NYSE:JBTM - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,871 shares of the company's stock, valued at approximately $345,000.

Other hedge funds have also recently modified their holdings of the company. Vaughan Nelson Investment Management L.P. acquired a new stake in JBT Marel in the 2nd quarter worth about $83,397,000. Congress Asset Management Co. purchased a new position in shares of JBT Marel in the second quarter valued at approximately $53,515,000. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in shares of JBT Marel in the second quarter worth approximately $39,765,000. PineStone Asset Management Inc. purchased a new stake in shares of JBT Marel during the second quarter worth approximately $10,490,000. Finally, New York State Teachers Retirement System acquired a new position in JBT Marel in the 2nd quarter valued at $5,059,000. Institutional investors and hedge funds own 98.92% of the company's stock.

JBT Marel Stock Down 2.1%

NYSE JBTM opened at $131.61 on Friday. The business's fifty day simple moving average is $140.03 and its 200-day simple moving average is $125.29. The company has a quick ratio of 0.53, a current ratio of 0.93 and a debt-to-equity ratio of 0.35. The firm has a market cap of $6.84 billion, a PE ratio of -57.47, a P/E/G ratio of 1.84 and a beta of 1.21. JBT Marel Corporation has a 52 week low of $90.08 and a 52 week high of $148.76.

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

JBT Marel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a $0.10 dividend. The ex-dividend date 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 is currently -17.47%.

Analyst Upgrades and Downgrades

JBTM has been the topic of several recent research reports. Robert W. Baird set a $169.00 target price on shares of JBT Marel in a research note on Friday, October 3rd. Weiss Ratings reissued a "hold (c-)" rating on shares of JBT Marel in a research note on Wednesday, October 8th. Finally, William Blair raised shares of JBT Marel from a "market perform" rating to an "outperform" rating in a research note on Wednesday, August 6th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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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