JBT Marel (NYSE:JBTM) Hits New 12-Month High Following Earnings Beat

Key Points

• JBT Marel Corporation shares reached a new 52-week high of $144.66 after reporting better-than-expected earnings, with earnings per share of $1.49 compared to analysts' estimates of $1.27.
• The company experienced a revenue surge of 132.4% year-over-year, totaling $934.80 million for the quarter, significantly beating the consensus estimate of $898.77 million.
• JBT Marel also announced a quarterly dividend of $0.10, reflecting a 0.3% dividend yield and a dividend payout ratio of -28.37%.

JBT Marel Corporation (NYSE:JBTM - Get Free Report) shares hit a new 52-week high during trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $144.66 and last traded at $141.38, with a volume of 64608 shares trading hands. The stock had previously closed at $133.62.

The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.22. JBT Marel had a positive return on equity of 7.96% and a negative net margin of 5.08%. The company had revenue of $934.80 million for the quarter, compared to the consensus estimate of $898.77 million. The business's revenue for the quarter was up 132.4% on a year-over-year basis.

JBT Marel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were issued a $0.10 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $0.40 annualized dividend and a yield of 0.3%. JBT Marel's payout ratio is presently -17.47%.

Wall Street Analysts Forecast Growth

Separately, William Blair raised shares of JBT Marel from a "market perform" rating to an "outperform" rating in a research report on Wednesday.

Insider Activity

In other news, EVP Luiz Augusto Rizzolo sold 1,271 shares of JBT Marel stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $118.55, for a total value of $150,677.05. Following the completion of the transaction, the executive vice president owned 6,342 shares in the company, valued at $751,844.10. This trade represents a 16.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.69% of the stock is currently owned by corporate insiders.

Institutional Trading of JBT Marel

A number of institutional investors have recently modified their holdings of JBTM. JTC Employer Solutions Trustee Ltd purchased a new position in JBT Marel in the second quarter worth about $29,000. Costello Asset Management INC purchased a new stake in JBT Marel in the 2nd quarter worth $36,000. Fifth Third Bancorp bought a new stake in JBT Marel in the 2nd quarter worth approximately $50,000. Eukles Asset Management purchased a new position in JBT Marel in the 2nd quarter worth about $54,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in JBT Marel in the 2nd quarter valued at about $63,000. 98.92% of the stock is currently owned by hedge funds and other institutional investors.

JBT Marel Price Performance

The company has a market cap of $7.10 billion, a PE ratio of -59.65, a price-to-earnings-growth ratio of 2.21 and a beta of 1.24. The company has a quick ratio of 0.74, a current ratio of 0.93 and a debt-to-equity ratio of 0.35. The firm has a 50 day simple moving average of $126.26 and a 200-day simple moving average of $120.69.

About JBT Marel

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.