New York State Teachers Retirement System Purchases New Shares in JBT Marel Corporation $JBTM

Key Points

• The New York State Teachers Retirement System acquired a new stake in JBT Marel Corporation during Q2, purchasing 42,068 shares valued at approximately $5,059,000.
• Analysts have provided positive ratings for JBT Marel, with William Blair upgrading the stock to "outperform" and a consensus target price of $156.00.
• The company also recently paid a quarterly dividend of $0.10 per share, representing an annualized yield of 0.3%.

New York State Teachers Retirement System purchased 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 13F filing with the SEC. The institutional investor purchased 42,068 shares of the company's stock, valued at approximately $5,059,000. New York State Teachers Retirement System owned 0.08% of JBT Marel as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of JBTM. Costello Asset Management INC purchased a new stake in JBT Marel during the 2nd quarter valued at $36,000. Fifth Third Bancorp purchased a new stake in JBT Marel in the second quarter worth $50,000. Public Employees Retirement System of Ohio purchased a new stake in JBT Marel in the second quarter worth $63,000. Hilltop National Bank purchased a new stake in JBT Marel in the second quarter worth $89,000. Finally, Sage Rhino Capital LLC purchased a new stake in JBT Marel in the second quarter worth $208,000. Hedge funds and other institutional investors own 98.92% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on JBTM shares. William Blair upgraded 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 target price on JBT Marel in a research note on Friday, October 3rd. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of JBT Marel in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $156.00.

JBT Marel Stock Performance

Shares of JBT Marel stock opened at $131.73 on Tuesday. The firm has a market cap of $6.85 billion, a P/E ratio of -57.52, a P/E/G ratio of 1.80 and a beta of 1.21. The company has a current ratio of 0.93, a quick ratio of 0.53 and a debt-to-equity ratio of 0.35. JBT Marel Corporation has a 12 month low of $90.08 and a 12 month high of $148.76. The stock's fifty day moving average price is $139.95 and its 200-day moving average price is $125.58.

JBT Marel (NYSE:JBTM - Get Free Report) last announced its quarterly 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, equities research analysts expect that JBT Marel Corporation will post 5.21 earnings per share for the current fiscal year.

JBT Marel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a dividend of $0.10 per share. 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 dividend payout ratio (DPR) 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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