JBT Marel Corporation (NYSE:JBTM – Get Free Report) gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $114.78, but opened at $121.29. JBT Marel shares last traded at $119.1050, with a volume of 35,013 shares.
The company reported $2.19 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.10. The company had revenue of $994.00 million for the quarter. JBT Marel had a return on equity of 8.75% and a net margin of 4.89%.
JBT Marel Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 17th were paid a $0.10 dividend. The ex-dividend date was Monday, August 17th. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. JBT Marel’s dividend payout ratio (DPR) is 10.90%.
Analyst Upgrades and Downgrades
A number of analysts have commented on JBTM shares. Robert W. Baird decreased their target price on JBT Marel from $188.00 to $171.00 and set an “outperform” rating on the stock in a research report on Thursday, September 24th. KeyCorp assumed coverage on JBT Marel in a research report on Tuesday, August 25th. They issued an “overweight” rating and a $150.00 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of JBT Marel in a research note on Wednesday, September 2nd. Finally, Barclays assumed coverage on shares of JBT Marel in a research report on Tuesday, September 8th. They issued an “overweight” rating and a $150.00 price objective on the stock. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.20.
Read Our Latest Research Report on JBT Marel
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the business. Pinnacle Wealth Planning Services Inc. increased its stake in JBT Marel by 12.3% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,049 shares of the company’s stock valued at $111,000 after purchasing an additional 115 shares during the last quarter. Park Avenue Securities LLC boosted its stake in JBT Marel by 1.4% in the 3rd quarter. Park Avenue Securities LLC now owns 9,361 shares of the company’s stock worth $988,000 after buying an additional 128 shares during the last quarter. Cim Investment Management Inc. boosted its stake in JBT Marel by 7.4% in the 2nd quarter. Cim Investment Management Inc. now owns 2,310 shares of the company’s stock worth $335,000 after buying an additional 159 shares during the last quarter. Parallel Advisors LLC boosted its stake in JBT Marel by 1,211.8% in the 1st quarter. Parallel Advisors LLC now owns 223 shares of the company’s stock worth $29,000 after buying an additional 206 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in JBT Marel by 8.2% in the 1st quarter. NewEdge Advisors LLC now owns 2,929 shares of the company’s stock valued at $375,000 after buying an additional 223 shares during the period. 98.92% of the stock is currently owned by institutional investors and hedge funds.
JBT Marel Stock Up 4.9%
The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 1.24. The company has a market cap of $6.24 billion, a PE ratio of 32.80, a PEG ratio of 1.19 and a beta of 0.94. The firm has a fifty day simple moving average of $110.92 and a 200 day simple moving average of $131.05.
JBT Marel Company Profile
JBT Marel Corporation (NYSE: JBTM) is a global food processing technology company formed through the combination of JBT Corporation and Marel. The company develops, manufactures and services equipment, integrated production lines and software used throughout the food industry, from primary processing to packaging and related automation.
Its products and solutions support the processing of poultry, meat, fish, prepared foods, pet food, plant-based products, fruits and vegetables, and other food categories.
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