Deroy & Devereaux Private Investment Counsel Inc. Invests $39.77 Million in JBT Marel Corporation $JBTM

Key Points

• Deroy & Devereaux Private Investment Counsel Inc. has invested approximately $39.77 million in JBT Marel Corporation, acquiring 330,659 shares, which represents 2.2% of its total holdings.
• JBT Marel has received ratings with a consensus of "Moderate Buy" and a target price of $156.00, while currently trading around $140.70.
• The company recently announced a quarterly dividend of $0.10 per share, equating to an annual yield of 0.3%.

Deroy & Devereaux Private Investment Counsel Inc. bought a new position in shares of JBT Marel Corporation (NYSE:JBTM - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 330,659 shares of the company's stock, valued at approximately $39,765,000. JBT Marel makes up 2.2% of Deroy & Devereaux Private Investment Counsel Inc.'s holdings, making the stock its 6th largest position. Deroy & Devereaux Private Investment Counsel Inc. owned about 0.64% of JBT Marel at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Costello Asset Management INC purchased a new position in shares of JBT Marel during the 2nd quarter worth approximately $36,000. Fifth Third Bancorp purchased a new position in shares of JBT Marel during the 2nd quarter worth approximately $50,000. Public Employees Retirement System of Ohio purchased a new position in shares of JBT Marel during the 2nd quarter worth approximately $63,000. Hilltop National Bank purchased a new position in shares of JBT Marel during the 2nd quarter worth approximately $89,000. Finally, Sage Rhino Capital LLC purchased a new position in shares of JBT Marel during the 2nd quarter worth approximately $208,000. 98.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

JBTM has been the subject of a number of analyst reports. Robert W. Baird set a $169.00 target price on JBT Marel in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of JBT Marel in a research note on Wednesday, October 8th. Finally, William Blair raised JBT Marel from a "market perform" rating to an "outperform" rating in a research note on Wednesday, August 6th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $156.00.

JBT Marel Price Performance

Shares of NYSE:JBTM opened at $140.70 on Wednesday. The business's fifty day moving average price is $140.12 and its two-hundred day moving average price is $125.08. The stock has a market cap of $7.31 billion, a PE ratio of -61.44, a price-to-earnings-growth ratio of 1.90 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.53 and a current ratio of 0.93. JBT Marel Corporation has a one year low of $90.08 and a one year high of $148.76.

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

JBT Marel Announces Dividend

The business also recently announced 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. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, August 18th. JBT Marel's dividend payout ratio is -17.47%.

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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