Bridges Investment Management Inc. Buys Shares of 2,871 JBT Marel Corporation $JBTM

Bridges Investment Management Inc. bought a new position in shares of JBT Marel Corporation (NYSE:JBTM) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,871 shares of the company’s stock, valued at approximately $345,000.

A number of other institutional investors have also made changes to their positions in JBTM. Vaughan Nelson Investment Management L.P. acquired a new position in shares of JBT Marel in the 2nd quarter worth approximately $83,397,000. Congress Asset Management Co. purchased a new stake in JBT Marel in the second quarter valued at approximately $53,515,000. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in JBT Marel in the second quarter valued at approximately $39,765,000. PineStone Asset Management Inc. acquired a new position in JBT Marel during the second quarter worth $10,490,000. Finally, New York State Teachers Retirement System purchased a new position in shares of JBT Marel during the second quarter worth $5,059,000. 98.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on JBTM. Weiss Ratings reiterated a “hold (c-)” rating on shares of JBT Marel in a report on Wednesday, October 8th. William Blair upgraded shares of JBT Marel from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 6th. Finally, Robert W. Baird set a $169.00 price target on shares of JBT Marel in a research report on Friday, October 3rd. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $156.00.

JBT Marel Trading Down 2.1%

JBTM opened at $131.61 on Friday. The business has a fifty day moving average price of $140.03 and a 200 day moving average price of $125.29. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.93 and a quick ratio of 0.53. JBT Marel Corporation has a 12 month low of $90.08 and a 12 month high of $148.76. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of -57.47, a PEG ratio of 1.84 and a beta of 1.21.

JBT Marel (NYSE:JBTM) last announced its quarterly earnings data on Tuesday, February 22nd. The company reported $1.02 earnings per share (EPS) for the quarter. JBT Marel had a positive return on equity of 7.96% and a negative net margin of 5.08%.The business had revenue of $439.40 million during the quarter. Sell-side analysts expect that JBT Marel Corporation will post 5.21 earnings per share for the current fiscal year.

JBT Marel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a $0.10 dividend. The ex-dividend date of this dividend was 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 is currently -17.47%.

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.