QRG Capital Management Inc. Takes Position in JBT Marel Corporation $JBTM

Key Points

• QRG Capital Management Inc. has acquired a new stake in JBT Marel Corporation with 2,779 shares valued at approximately $334,000.
• A significant majority of JBT Marel's stock, about 98.92%, is owned by institutional investors and hedge funds.
• The stock has received a consensus rating of "Moderate Buy" from analysts, with an average price target of $156.00.

QRG Capital Management Inc. acquired a new stake in JBT Marel Corporation (NYSE:JBTM - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,779 shares of the company's stock, valued at approximately $334,000.

A number of other institutional investors have also modified their holdings of JBTM. Fifth Third Bancorp purchased a new position in JBT Marel in the second quarter valued at $50,000. Public Employees Retirement System of Ohio purchased a new position in JBT Marel in the second quarter valued at $63,000. Hilltop National Bank purchased a new position in JBT Marel in the second quarter valued at $89,000. Sage Rhino Capital LLC purchased a new position in JBT Marel in the second quarter valued at $208,000. Finally, Janney Montgomery Scott LLC purchased a new position in JBT Marel in the second quarter valued at $272,000. 98.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

JBT Marel Stock Down 4.3%

JBTM opened at $134.96 on Friday. The business's 50-day simple moving average is $140.01 and its 200-day simple moving average is $124.86. 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. The stock has a market capitalization of $7.01 billion, a P/E ratio of -58.93, a price-to-earnings-growth ratio of 1.89 and a beta of 1.21.

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

JBT Marel Dividend Announcement

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

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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