William Blair Investment Management LLC Invests $34.65 Million in JBT Marel Corporation $JBTM

Key Points

• William Blair Investment Management LLC has invested approximately $34.65 million in JBT Marel Corporation, acquiring 288,096 shares, which represents 0.55% ownership.
• JBT Marel recently announced a quarterly dividend of $0.10 per share, with an annualized yield of 0.3% and a dividend payout ratio of -17.47%.
• The stock has a recent trading price of $131.61, with analysts projecting an average price target of $156.00 and an overall rating of "Moderate Buy."

William Blair Investment Management LLC bought a new position in JBT Marel Corporation (NYSE:JBTM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 288,096 shares of the company's stock, valued at approximately $34,646,000. William Blair Investment Management LLC owned 0.55% of JBT Marel as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of JBT Marel in the second quarter worth $29,000. Bridges Investment Management Inc. acquired a new stake in JBT Marel during the second quarter valued at $345,000. New York State Teachers Retirement System acquired a new stake in JBT Marel during the second quarter valued at $5,059,000. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in JBT Marel during the second quarter valued at $39,765,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in JBT Marel during the second quarter valued at $319,000. Institutional investors and hedge funds own 98.92% of the company's stock.

JBT Marel Price Performance

NYSE JBTM opened at $131.61 on Friday. JBT Marel Corporation has a fifty-two week low of $90.08 and a fifty-two week high of $148.76. The stock's 50-day moving average is $140.03 and its two-hundred day moving average is $125.29. 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 firm has a market cap of $6.84 billion, a P/E ratio of -57.47, a price-to-earnings-growth ratio of 1.80 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 earnings per share for the quarter. JBT Marel had a positive return on equity of 7.96% and a negative net margin of 5.08%.The company had revenue of $439.40 million for the quarter. On average, analysts anticipate that JBT Marel Corporation will post 5.21 earnings per share for the current fiscal year.

JBT Marel Announces Dividend

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

Analyst Ratings Changes

JBTM has been the subject of a number of research reports. Robert W. Baird set a $169.00 price objective on JBT Marel in a research report on Friday, October 3rd. Weiss Ratings reissued a "hold (c-)" rating on shares of JBT Marel in a research report on Wednesday, October 8th. Finally, William Blair raised JBT Marel from a "market perform" rating to an "outperform" rating in a research report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $156.00.

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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