JBT Marel (NYSE:JBTM) Sets New 12-Month High on Strong Earnings

JBT Marel Corporation (NYSE:JBTM)’s stock price hit a new 52-week high on Tuesday following a stronger than expected earnings report. The company traded as high as $144.66 and last traded at $141.38, with a volume of 64608 shares traded. The stock had previously closed at $133.62.

The company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.22. JBT Marel had a positive return on equity of 9.58% and a negative net margin of 5.08%. The business had revenue of $934.80 million for the quarter, compared to analyst estimates of $898.77 million. The business’s quarterly revenue was up 132.4% compared to the same quarter last year.

JBT Marel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were paid a dividend of $0.10 per share. The ex-dividend date was Tuesday, May 27th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.3%. JBT Marel’s payout ratio is presently -28.37%.

Insider Activity at JBT Marel

In related news, EVP Luiz Augusto Rizzolo sold 1,271 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $118.55, for a total transaction of $150,677.05. Following the completion of the transaction, the executive vice president owned 6,342 shares in the company, valued at approximately $751,844.10. The trade was a 16.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On JBT Marel

A number of institutional investors and hedge funds have recently modified their holdings of the company. GPS Wealth Strategies Group LLC acquired a new position in shares of JBT Marel during the second quarter worth $193,000. NJ State Employees Deferred Compensation Plan acquired a new position in shares of JBT Marel during the second quarter worth $260,000. Homestead Advisers Corp acquired a new position in shares of JBT Marel during the second quarter worth $4,774,000. Huntington National Bank acquired a new position in shares of JBT Marel during the second quarter worth $95,000. Finally, Bank of Montreal Can acquired a new position in shares of JBT Marel during the second quarter worth $6,084,000. Institutional investors and hedge funds own 98.92% of the company’s stock.

JBT Marel Stock Up 4.9%

The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 0.74. The company has a market cap of $7.29 billion, a price-to-earnings ratio of -61.23, a P/E/G ratio of 2.06 and a beta of 1.24. The firm’s 50 day simple moving average is $125.86 and its 200-day simple moving average is $120.58.

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.