Bessemer Group Inc. Takes $1.61 Million Position in JBT Marel Corporation $JBTM

Bessemer Group Inc. purchased a new stake in shares of JBT Marel Corporation (NYSE:JBTM) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 13,374 shares of the company’s stock, valued at approximately $1,608,000.

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

JBT Marel Price Performance

JBT Marel stock opened at $123.86 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.93 and a quick ratio of 0.53. The stock has a market cap of $6.44 billion, a price-to-earnings ratio of -54.09, a price-to-earnings-growth ratio of 1.72 and a beta of 1.21. The firm has a 50-day moving average of $138.02 and a two-hundred day moving average of $127.07. JBT Marel Corporation has a 1 year low of $90.08 and a 1 year high of $148.76.

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

JBT Marel Dividend Announcement

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

Analysts Set New Price Targets

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