Louisiana State Employees Retirement System Acquires New Position in JBT Marel Corporation $JBTM

Key Points

• The Louisiana State Employees Retirement System acquired a new stake in JBT Marel Corporation, purchasing 21,600 shares valued at approximately $2.6 million.
• JBT Marel received price target upgrades, with Robert W. Baird setting a target of $169.00 and a consensus rating of "Moderate Buy".
• The company reported a quarterly earnings per share (EPS) of $1.02 and a negative net margin of 5.08% in its latest earnings announcement.

Louisiana State Employees Retirement System acquired a new stake in JBT Marel Corporation (NYSE:JBTM - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 21,600 shares of the company's stock, valued at approximately $2,598,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in JBTM. Fifth Third Bancorp acquired a new stake in shares of JBT Marel in the second quarter valued at about $50,000. Public Employees Retirement System of Ohio acquired a new stake in shares of JBT Marel in the second quarter valued at about $63,000. Hilltop National Bank acquired a new position in JBT Marel during the second quarter worth about $89,000. Sage Rhino Capital LLC acquired a new position in JBT Marel during the second quarter worth about $208,000. Finally, Janney Montgomery Scott LLC acquired a new position in JBT Marel during the second quarter worth about $272,000. Institutional investors and hedge funds own 98.92% of the company's stock.

Analysts Set New Price Targets

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

JBT Marel Stock Performance

Shares of NYSE JBTM opened at $134.96 on Friday. The company has a market cap of $7.01 billion, a PE ratio of -58.93, a price-to-earnings-growth ratio of 1.97 and a beta of 1.21. JBT Marel Corporation has a 12 month low of $90.08 and a 12 month high of $148.76. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.93 and a quick ratio of 0.53. The company has a 50-day simple moving average of $140.01 and a 200-day simple moving average of $124.87.

JBT Marel (NYSE:JBTM - Get Free Report) last issued its quarterly earnings results on Tuesday, February 22nd. The company reported $1.02 EPS for the quarter. The business 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, equities analysts anticipate that JBT Marel Corporation will post 5.21 earnings per share for the current year.

JBT Marel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a $0.10 dividend. 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 payout ratio is presently -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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