Envestnet Portfolio Solutions Inc. Takes Position in JBT Marel Corporation $JBTM

Key Points

• Envestnet Portfolio Solutions Inc. has acquired a new stake in JBT Marel Corporation, purchasing 2,649 shares valued at approximately $319,000 during the 2nd quarter.
• JBT Marel's stock has a market cap of $6.75 billion and is currently trading at $129.87, with a fifty-two week low of $90.08 and a high of $148.76.
• The company recently declared a quarterly dividend of $0.10 per share, with an annualized payout of $0.40 and a dividend yield of 0.3%.

Envestnet Portfolio Solutions Inc. acquired a new stake in shares of JBT Marel Corporation (NYSE:JBTM - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,649 shares of the company's stock, valued at approximately $319,000.

Several other institutional investors and hedge funds have also modified their holdings of JBTM. Costello Asset Management INC purchased a new position in shares of JBT Marel during the second quarter valued at approximately $36,000. 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. Hilltop National Bank purchased a new position in shares of JBT Marel during the second quarter valued at approximately $89,000. Finally, Sage Rhino Capital LLC purchased a new position in shares of JBT Marel during the second quarter valued at approximately $208,000. Hedge funds and other institutional investors own 98.92% of the company's stock.

JBT Marel Stock Performance

NYSE:JBTM opened at $129.87 on Friday. 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 company has a market cap of $6.75 billion, a P/E ratio of -56.71, a P/E/G ratio of 1.77 and a beta of 1.21. JBT Marel Corporation has a fifty-two week low of $90.08 and a fifty-two week high of $148.76. The firm's 50 day moving average is $139.26 and its two-hundred day moving average is $125.86.

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

JBT Marel Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. William Blair raised shares of JBT Marel from a "market perform" rating to an "outperform" rating in a research note on Wednesday, August 6th. Robert W. Baird set a $169.00 price objective on shares of JBT Marel in a research note on Friday, October 3rd. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of JBT Marel in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, JBT Marel presently has an average rating of "Moderate Buy" and an average target price of $156.00.

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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