KLP Kapitalforvaltning AS Makes New Investment in JBT Marel Corporation $JBTM

KLP Kapitalforvaltning AS purchased a new position in shares of JBT Marel Corporation (NYSE:JBTM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,700 shares of the company’s stock, valued at approximately $1,287,000.

Other large investors also recently bought and sold shares of the company. Smith Chas P & Associates PA Cpas purchased a new stake in JBT Marel during the 2nd quarter worth about $1,853,000. Truist Financial Corp acquired a new position in shares of JBT Marel during the 2nd quarter worth about $2,292,000. Congress Asset Management Co. acquired a new position in shares of JBT Marel during the 2nd quarter worth about $53,515,000. Vaughan Nelson Investment Management L.P. acquired a new position in shares of JBT Marel during the 2nd quarter worth about $83,397,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of JBT Marel during the 2nd quarter worth about $3,308,000. Hedge funds and other institutional investors own 98.92% of the company’s stock.

JBT Marel Stock Up 2.6%

Shares of NYSE JBTM opened at $138.70 on Tuesday. The business has a 50-day moving average price of $140.11 and a 200 day moving average price of $124.97. 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 stock has a market cap of $7.21 billion, a PE ratio of -60.57, a price-to-earnings-growth ratio of 1.89 and a beta of 1.21. JBT Marel Corporation has a 52-week low of $90.08 and a 52-week high of $148.76.

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

JBT Marel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid 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 dividend payout ratio is currently -17.47%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Robert W. Baird set a $169.00 price objective on JBT Marel in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of JBT Marel in a research report on Wednesday, October 8th. Finally, William Blair raised JBT Marel from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 6th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $156.00.

About JBT Marel

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.