Conestoga Capital Advisors LLC Buys Shares of 172,509 JBT Marel Corporation $JBTM

Conestoga Capital Advisors LLC bought a new stake in shares of JBT Marel Corporation (NYSE:JBTM - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 172,509 shares of the company's stock, valued at approximately $20,746,000. Conestoga Capital Advisors LLC owned 0.33% of JBT Marel at the end of the most recent reporting period.

Several other large investors have also modified their holdings of JBTM. Fifth Third Bancorp purchased a new position in shares of JBT Marel during the second quarter valued at approximately $50,000. Public Employees Retirement System of Ohio purchased a new position in shares of JBT Marel during the second quarter valued at approximately $63,000. PineStone Asset Management Inc. purchased a new position in shares of JBT Marel during the second quarter valued at approximately $10,490,000. Congress Asset Management Co. purchased a new position in shares of JBT Marel during the second quarter valued at approximately $53,515,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of JBT Marel during the second quarter valued at approximately $3,308,000. Hedge funds and other institutional investors own 98.92% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on JBTM. Weiss Ratings restated a "hold (c-)" rating on shares of JBT Marel in a research report on Wednesday, October 8th. Robert W. Baird set a $169.00 price target on JBT Marel in a report on Friday, October 3rd. Finally, William Blair upgraded JBT Marel from a "market perform" rating to an "outperform" rating in a report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $156.00.

JBT Marel Stock Performance

Shares of NYSE:JBTM opened at $131.61 on Monday. The company has a market capitalization of $6.84 billion, a price-to-earnings ratio of -57.47, a price-to-earnings-growth ratio of 1.80 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. 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 50 day moving average of $140.03 and a 200 day moving average of $125.38.

JBT Marel (NYSE:JBTM - Get Free Report) last issued its quarterly earnings data on Tuesday, February 22nd. The company reported $1.02 EPS for the quarter. The company had revenue of $439.40 million during the quarter. JBT Marel had a negative net margin of 5.08% and a positive return on equity of 7.96%. On average, sell-side analysts predict that JBT Marel Corporation will post 5.21 earnings per share for the current fiscal 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 paid a $0.10 dividend. 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 payout ratio is -17.47%.

JBT Marel Company 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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