Lifeyrissjodur verzlunarmanna Pension Fund of Commerce Sells 70,000 Shares of JBT Marel Corporation $JBTM

Lifeyrissjodur verzlunarmanna Pension Fund of Commerce lowered its stake in shares of JBT Marel Corporation (NYSE:JBTMFree Report) by 4.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,595,344 shares of the company’s stock after selling 70,000 shares during the period. JBT Marel makes up 100.0% of Lifeyrissjodur verzlunarmanna Pension Fund of Commerce’s portfolio, making the stock its biggest position. Lifeyrissjodur verzlunarmanna Pension Fund of Commerce’s holdings in JBT Marel were worth $203,997,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Alliancebernstein L.P. acquired a new stake in shares of JBT Marel in the 2nd quarter valued at approximately $135,854,000. Gildi lifeyrissjodur bought a new position in JBT Marel during the 4th quarter worth approximately $170,862,000. Norges Bank acquired a new position in JBT Marel during the fourth quarter valued at approximately $98,435,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in JBT Marel during the second quarter valued at approximately $77,963,000. Finally, P2 Capital Partners LLC bought a new stake in JBT Marel in the second quarter valued at approximately $65,536,000. 98.92% of the stock is currently owned by institutional investors and hedge funds.

JBT Marel Stock Up 0.1%

Shares of JBTM stock opened at $138.61 on Monday. JBT Marel Corporation has a 12-month low of $113.67 and a 12-month high of $170.19. The company has a quick ratio of 0.61, a current ratio of 1.01 and a debt-to-equity ratio of 0.32. The firm has a fifty day moving average of $134.78 and a 200-day moving average of $139.82. The company has a market capitalization of $7.22 billion, a price-to-earnings ratio of 43.32, a P/E/G ratio of 1.46 and a beta of 0.94.

JBT Marel (NYSE:JBTMGet Free Report) last posted its quarterly earnings data on Monday, May 4th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.49 by $0.09. The business had revenue of $936.00 million for the quarter. JBT Marel had a net margin of 4.32% and a return on equity of 8.25%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.97 earnings per share. As a group, equities research analysts predict that JBT Marel Corporation will post 8.26 earnings per share for the current fiscal year.

JBT Marel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 26th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. JBT Marel’s dividend payout ratio (DPR) is currently 12.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Oppenheimer initiated coverage on shares of JBT Marel in a report on Thursday, May 21st. They issued an “outperform” rating and a $175.00 target price on the stock. Weiss Ratings cut shares of JBT Marel from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Wall Street Zen cut shares of JBT Marel from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Seaport Research Partners set a $165.00 price objective on JBT Marel in a research note on Thursday, May 21st. Finally, Zacks Research lowered JBT Marel from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, JBT Marel currently has an average rating of “Moderate Buy” and an average target price of $174.67.

View Our Latest Analysis on JBTM

JBT Marel Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for JBT Marel (NYSE:JBTM)

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