New York State Teachers Retirement System Acquires New Holdings in JBT Marel Corporation $JBTM

New York State Teachers Retirement System acquired a new stake in shares of JBT Marel Corporation (NYSE:JBTM) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 42,068 shares of the company’s stock, valued at approximately $5,059,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vaughan Nelson Investment Management L.P. bought a new stake in JBT Marel during the second quarter valued at about $83,397,000. Congress Asset Management Co. bought a new stake in JBT Marel during the second quarter valued at about $53,515,000. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in JBT Marel in the second quarter worth about $39,765,000. PineStone Asset Management Inc. acquired a new stake in JBT Marel in the second quarter worth about $10,490,000. Finally, State of Alaska Department of Revenue acquired a new stake in JBT Marel in the second quarter worth about $3,308,000. Institutional investors own 98.92% of the company’s stock.

JBT Marel Trading Up 0.3%

Shares of NYSE:JBTM opened at $131.73 on Tuesday. JBT Marel Corporation has a 52-week low of $90.08 and a 52-week high of $148.76. The stock has a market cap of $6.85 billion, a price-to-earnings ratio of -57.52, a PEG ratio of 1.80 and a beta of 1.21. The company has a quick ratio of 0.53, a current ratio of 0.93 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average price of $139.95 and a 200-day moving average price of $125.58.

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 firm had revenue of $439.40 million during the quarter. Equities analysts predict that JBT Marel Corporation will post 5.21 EPS for the current year.

JBT Marel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, August 18th. JBT Marel’s dividend payout ratio (DPR) is presently -17.47%.

Analyst Ratings Changes

JBTM has been the subject of several recent analyst reports. William Blair raised JBT Marel from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 6th. Robert W. Baird set a $169.00 price target on JBT Marel in a report on Friday, October 3rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of JBT Marel in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, JBT Marel currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.00.

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.