JBT Marel (NYSE:JBTM) Reaches New 1-Year High - Here's Why

Key Points

• JBT Marel Corporation's stock reached a new 52-week high of $145.64 during trading, closing at $145.45 with a volume of 567,576 shares.
• William Blair has upgraded JBT Marel from a "market perform" rating to an "outperform" rating, indicating positive analyst sentiment towards the stock.
• The company reported a significant 132.4% year-over-year increase in revenue for the quarter, totaling $934.80 million, exceeding consensus estimates.

Shares of JBT Marel Corporation (NYSE:JBTM - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $145.64 and last traded at $145.45, with a volume of 567576 shares. The stock had previously closed at $140.81.

Wall Street Analyst Weigh In

Separately, William Blair upgraded JBT Marel from a "market perform" rating to an "outperform" rating in a research report on Wednesday, August 6th.

JBT Marel Price Performance

The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.53 and a current ratio of 0.93. The stock has a market capitalization of $7.56 billion, a PE ratio of -63.52, a P/E/G ratio of 1.90 and a beta of 1.24. The company's fifty day simple moving average is $127.97 and its two-hundred day simple moving average is $120.91.

JBT Marel (NYSE:JBTM - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.22. JBT Marel had a negative net margin of 5.08% and a positive return on equity of 7.96%. The company had revenue of $934.80 million for the quarter, compared to the consensus estimate of $898.77 million. The company's revenue for the quarter was up 132.4% compared to the same quarter last year. As a group, sell-side analysts predict that JBT Marel Corporation will post 5.21 EPS for the current year.

JBT Marel Announces Dividend

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

Insiders Place Their Bets

In other JBT Marel news, EVP Luiz Augusto Rizzolo sold 1,271 shares of the firm's stock in a transaction on 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 transaction, the executive vice president owned 6,342 shares of the company's stock, valued at approximately $751,844.10. This trade represents a 16.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On JBT Marel

A number of large investors have recently bought and sold shares of the stock. Geode Capital Management LLC purchased a new stake in JBT Marel during the second quarter valued at about $141,026,000. Champlain Investment Partners LLC purchased a new stake in JBT Marel during the second quarter valued at about $85,029,000. Vaughan Nelson Investment Management L.P. purchased a new stake in JBT Marel during the second quarter valued at about $83,397,000. Norges Bank purchased a new stake in JBT Marel during the second quarter valued at about $77,470,000. Finally, Artisan Partners Limited Partnership purchased a new stake in JBT Marel during the second quarter valued at about $73,593,000. Hedge funds and other institutional investors own 98.92% of the company's stock.

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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