Peregrine Capital Management LLC Purchases New Holdings in JBT Marel Corporation $JBTM

Peregrine Capital Management LLC acquired a new position in shares of JBT Marel Corporation (NYSE:JBTM) in the second quarter, Holdings Channel reports. The fund acquired 80,189 shares of the company’s stock, valued at approximately $9,644,000.

Several other hedge funds and other institutional investors also recently modified their holdings of JBTM. JTC Employer Solutions Trustee Ltd acquired a new position in shares of JBT Marel in the second quarter valued at approximately $29,000. Costello Asset Management INC purchased a new position in JBT Marel in the 2nd quarter valued at $36,000. Fifth Third Bancorp acquired a new position in JBT Marel in the 2nd quarter valued at $50,000. Public Employees Retirement System of Ohio purchased a new position in JBT Marel during the 2nd quarter worth $63,000. Finally, Hilltop National Bank acquired a new stake in shares of JBT Marel in the 2nd quarter worth $89,000. 98.92% of the stock is currently owned by hedge funds and other institutional investors.

JBT Marel Stock Down 1.0%

Shares of NYSE JBTM opened at $128.84 on Tuesday. 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 firm has a 50-day moving average price of $138.88 and a 200 day moving average price of $126.67. JBT Marel Corporation has a 52 week low of $90.08 and a 52 week high of $148.76. The stock has a market capitalization of $6.70 billion, a price-to-earnings ratio of -56.26, a price-to-earnings-growth ratio of 1.78 and a beta of 1.21.

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

JBT Marel Dividend Announcement

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

Analyst Upgrades and Downgrades

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