JBT Marel Corporation (NYSE:JBTM - Get Free Report)'s stock price reached a new 52-week high on Tuesday following a better than expected earnings announcement. The company traded as high as $144.66 and last traded at $141.38, with a volume of 64608 shares. The stock had previously closed at $133.62.
The company reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.22. The business had revenue of $934.80 million for the quarter, compared to analysts' expectations of $898.77 million. JBT Marel had a negative net margin of 5.08% and a positive return on equity of 7.96%. The firm's quarterly revenue was up 132.4% on a year-over-year basis.
JBT Marel Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, August 18th. JBT Marel's payout ratio is presently -17.47%.
Analyst Upgrades and Downgrades
Separately, William Blair upgraded JBT Marel from a "market perform" rating to an "outperform" rating in a research report on Wednesday.
Check Out Our Latest Research Report on JBTM
Insider Buying and Selling at JBT Marel
In other JBT Marel news, EVP Luiz Augusto Rizzolo sold 1,271 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $118.55, for a total transaction of $150,677.05. Following the completion of the sale, the executive vice president directly owned 6,342 shares in the company, valued at approximately $751,844.10. This trade represents a 16.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.69% of the stock is owned by company insiders.
Institutional Investors Weigh In On JBT Marel
Institutional investors have recently made changes to their positions in the company. JTC Employer Solutions Trustee Ltd bought a new stake in shares of JBT Marel during the second quarter valued at approximately $29,000. Allworth Financial LP acquired a new position in JBT Marel in the second quarter worth $30,000. Costello Asset Management INC acquired a new position in JBT Marel in the second quarter worth $36,000. Fifth Third Bancorp acquired a new position in JBT Marel in the second quarter worth $50,000. Finally, Eukles Asset Management acquired a new position in JBT Marel in the second quarter worth $54,000. 98.92% of the stock is currently owned by institutional investors and hedge funds.
JBT Marel Stock Up 0.9%
The company has a debt-to-equity ratio of 0.35, a current ratio of 0.93 and a quick ratio of 0.74. The firm has a market cap of $7.06 billion, a price-to-earnings ratio of -59.31, a price-to-earnings-growth ratio of 1.88 and a beta of 1.24. The firm has a 50 day moving average price of $127.03 and a 200-day moving average price of $120.83.
About JBT Marel
(
Get Free Report)
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.
Featured Articles
Before you consider JBT Marel, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and JBT Marel wasn't on the list.
While JBT Marel currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
We are about to experience the greatest A.I. boom in stock market history...
Thanks to a pivotal economic catalyst, specific tech stocks will skyrocket just like they did during the "dot com" boom in the 1990s.
That’s why, we’ve hand-selected 7 tiny tech disruptor stocks positioned to surge.
- The first pick is a tiny under-the-radar A.I. stock that's trading for just $3.00. This company already has 98 registered patents for cutting-edge voice and sound recognition technology... And has lined up major partnerships with some of the biggest names in the auto, tech, and music industry... plus many more.
- The second pick presents an affordable avenue to bolster EVs and AI development…. Analysts are calling this stock a “buy” right now and predict a high price target of $19.20, substantially more than its current $6 trading price.
- Our final and favorite pick is generating a brand-new kind of AI. It's believed this tech will be bigger than the current well-known leader in this industry… Analysts predict this innovative tech is gearing up to create a tidal wave of new wealth, fueling a $15.7 TRILLION market boom.
Right now, we’re staring down the barrel of a true once-in-a-lifetime moment. As an investment opportunity, this kind of breakthrough doesn't come along every day.
And the window to get in on the ground-floor — maximizing profit potential from this expected market surge — is closing quickly...
Simply enter your email below to get the names and tickers of the 7 small stocks with potential to make investors very, very happy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access