Lifeyrissjodur verzlunarmanna Pension Fund of Commerce Sells 70,000 Shares of JBT Marel Corporation $JBTM

Key Points

• Lifeyrissjodur verzlunarmanna Pension Fund of Commerce sold 70,000 shares of JBT Marel in the first quarter, reducing its stake by 4.2% to 1.60 million shares valued at approximately $204 million. JBT Marel remains the fund’s entire portfolio and represents about 3.06% of the company.
• JBT Marel reported quarterly EPS of $1.58, beating estimates of $1.49, while revenue rose 9.6% year over year to $936 million. Analysts expect full-year EPS of $8.26.
• The stock opened at $138.61, below the analyst consensus target of $174.67; coverage remains moderately positive, with three Buy ratings and two Hold ratings. The company also pays a quarterly dividend of $0.10, yielding about 0.3%.

Lifeyrissjodur verzlunarmanna Pension Fund of Commerce lessened its holdings in JBT Marel Corporation (NYSE:JBTM - Free Report) by 4.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,595,344 shares of the company's stock after selling 70,000 shares during the period. JBT Marel makes up 100.0% of Lifeyrissjodur verzlunarmanna Pension Fund of Commerce's portfolio, making the stock its biggest position. Lifeyrissjodur verzlunarmanna Pension Fund of Commerce owned about 3.06% of JBT Marel worth $203,997,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its holdings in shares of JBT Marel by 34.4% during the fourth quarter. UMB Bank n.a. now owns 254 shares of the company's stock valued at $38,000 after acquiring an additional 65 shares during the period. Main Management ETF Advisors LLC lifted its holdings in JBT Marel by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 7,047 shares of the company's stock valued at $1,062,000 after purchasing an additional 72 shares during the last quarter. Group One Trading LLC boosted its position in JBT Marel by 49.3% in the third quarter. Group One Trading LLC now owns 218 shares of the company's stock valued at $31,000 after buying an additional 72 shares in the last quarter. Redmond Asset Management LLC grew its stake in JBT Marel by 1.3% during the fourth quarter. Redmond Asset Management LLC now owns 7,788 shares of the company's stock worth $1,173,000 after buying an additional 101 shares during the last quarter. Finally, Sanctuary Advisors LLC increased its holdings in shares of JBT Marel by 7.5% during the fourth quarter. Sanctuary Advisors LLC now owns 1,613 shares of the company's stock worth $243,000 after buying an additional 113 shares in the last quarter. 98.92% of the stock is owned by institutional investors and hedge funds.

JBT Marel Price Performance

JBT Marel stock opened at $138.61 on Monday. The business's 50-day simple moving average is $134.78 and its 200 day simple moving average is $139.82. The company has a quick ratio of 0.61, a current ratio of 1.01 and a debt-to-equity ratio of 0.32. The stock has a market cap of $7.22 billion, a price-to-earnings ratio of 43.32, a P/E/G ratio of 1.46 and a beta of 0.94. JBT Marel Corporation has a 12-month low of $113.67 and a 12-month high of $170.19.

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, beating analysts' consensus estimates of $1.49 by $0.09. JBT Marel had a net margin of 4.32% and a return on equity of 8.25%. The company had revenue of $936.00 million for the quarter. During the same quarter in the previous year, the company posted $0.97 earnings per share. The business's revenue for the quarter was up 9.6% on a year-over-year basis. As a group, research analysts anticipate that JBT Marel Corporation will post 8.26 earnings per share for the current year.

JBT Marel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 26th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. JBT Marel's dividend payout ratio (DPR) is presently 12.50%.

Wall Street Analyst Weigh In

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

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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