Truist Financial Corp Makes New Investment in JBT Marel Corporation $JBTM

Key Points

• Truist Financial Corp has acquired a new position in JBT Marel Corporation, purchasing 19,061 shares valued at approximately $2,292,000.
• JBT Marel's stock has decreased by 4.3%, and analysts maintain a consensus rating of "Moderate Buy" with a price target of $156.00.
• The company has announced a quarterly dividend of $0.10 per share, representing an annual yield of 0.3%.

Truist Financial Corp acquired a new position in JBT Marel Corporation (NYSE:JBTM - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 19,061 shares of the company's stock, valued at approximately $2,292,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Smith Chas P & Associates PA Cpas acquired a new position in JBT Marel in the second quarter worth $1,853,000. Congress Asset Management Co. acquired a new position in JBT Marel in the second quarter worth $53,515,000. Public Employees Retirement System of Ohio acquired a new position in JBT Marel in the second quarter worth $63,000. State of Alaska Department of Revenue acquired a new position in JBT Marel in the second quarter worth $3,308,000. Finally, Avior Wealth Management LLC acquired a new position in JBT Marel in the second quarter worth $1,002,000. Institutional investors and hedge funds own 98.92% of the company's stock.

Analysts Set New Price Targets

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

JBT Marel Stock Down 4.3%

Shares of JBT Marel stock opened at $134.96 on Friday. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of -58.93, a P/E/G ratio of 1.97 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.93 and a quick ratio of 0.53. JBT Marel Corporation has a 52-week low of $90.08 and a 52-week high of $148.76. The stock 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 announced its quarterly earnings results on Tuesday, February 22nd. The company reported $1.02 earnings per share (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 during the quarter. 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 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 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, August 18th. 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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