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

Key Points

• JBT Marel Corporation shares reached a new 52-week high of $139.06, closing at $138.94, following a 2.6% increase in stock value.
• In its latest earnings report, JBT Marel exceeded expectations with an EPS of $0.97 and revenue of $854.10 million, marking a 117.7% year-over-year growth.
• The company declared a quarterly dividend of $0.10 per share, yielding 0.29% annually, with a negative dividend payout ratio of -28.37%.

JBT Marel Corporation (NYSE:JBTM - Get Free Report) shares reached a new 52-week high on Friday . The stock traded as high as $139.06 and last traded at $138.94, with a volume of 447227 shares traded. The stock had previously closed at $135.48.

JBT Marel Stock Up 2.6%

The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The company has a fifty day simple moving average of $122.55. The company has a market cap of $7.22 billion, a price-to-earnings ratio of -98.54, a price-to-earnings-growth ratio of 2.15 and a beta of 1.24.

JBT Marel (NYSE:JBTM - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.82 by $0.15. JBT Marel had a negative net margin of 5.07% and a positive return on equity of 8.55%. The firm had revenue of $854.10 million for the quarter, compared to the consensus estimate of $831.70 million. The firm's quarterly revenue was up 117.7% on a year-over-year basis. Equities research analysts expect that JBT Marel Corporation will post 5.21 EPS for the current year.

JBT Marel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend was Tuesday, May 27th. JBT Marel's dividend payout ratio (DPR) is presently -28.37%.

Insider Buying and Selling at JBT Marel

In related news, EVP Luiz Augusto Rizzolo sold 1,271 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at $751,844.10. This represents a 16.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.69% of the company's stock.

Institutional Trading of JBT Marel

A number of institutional investors and hedge funds have recently bought and sold shares of JBTM. Yousif Capital Management LLC bought a new position in JBT Marel during the second quarter worth $2,104,000. CWM LLC acquired a new stake in shares of JBT Marel during the 2nd quarter worth approximately $244,000. Inspire Investing LLC bought a new stake in JBT Marel in the second quarter valued at $388,000. Costello Asset Management INC bought a new stake in JBT Marel in the second quarter valued at $36,000. Finally, Callan Family Office LLC bought a new stake in JBT Marel in the second quarter valued at $438,000. 98.92% of the stock is currently owned by institutional investors and hedge funds.

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.

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