JBT Marel (NYSE:JBTM) Sets New 52-Week High - Here's What Happened

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.

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

Analyst Upgrades and Downgrades

Separately, William Blair raised shares of JBT Marel from a "market perform" rating to an "outperform" rating in a research note on Wednesday, August 6th.

JBT Marel Stock Up 0.9%

The firm has a market capitalization of $7.26 billion, a price-to-earnings ratio of -61.00, a P/E/G ratio of 1.94 and a beta of 1.24. The business has a 50 day simple moving average of $129.25 and a 200-day simple moving average of $121.12. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.53 and a current ratio of 0.93.

JBT Marel (NYSE:JBTM - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $934.80 million during the quarter, compared to the consensus estimate of $898.77 million. JBT Marel's revenue for the quarter was up 132.4% compared to the same quarter last year. On average, equities analysts expect that JBT Marel Corporation will post 5.21 EPS for the current year.

JBT Marel Dividend Announcement

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

Insider Activity

In other news, EVP Luiz Augusto Rizzolo sold 1,271 shares of the 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 directly owned 6,342 shares in the company, valued at approximately $751,844.10. This represents a 16.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On JBT Marel

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC purchased a new position in JBT Marel during the 2nd quarter valued at about $28,000. EverSource Wealth Advisors LLC purchased a new position in JBT Marel during the 2nd quarter valued at about $28,000. JTC Employer Solutions Trustee Ltd purchased a new position in JBT Marel during the 2nd quarter valued at about $29,000. Northwestern Mutual Wealth Management Co. purchased a new position in JBT Marel during the 2nd quarter valued at about $29,000. Finally, Allworth Financial LP purchased a new position in JBT Marel during the 2nd quarter valued at about $30,000. 98.92% of the stock is currently owned by hedge funds and other institutional investors.

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.