Envestnet Asset Management Inc. Acquires Shares of 248,407 JBT Marel Corporation $JBTM

Envestnet Asset Management Inc. acquired a new stake in JBT Marel Corporation (NYSE:JBTM) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 248,407 shares of the company’s stock, valued at approximately $29,873,000. Envestnet Asset Management Inc. owned about 0.48% of JBT Marel at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. JTC Employer Solutions Trustee Ltd acquired a new stake in JBT Marel in the 2nd quarter valued at about $29,000. Costello Asset Management INC acquired a new stake in JBT Marel in the 2nd quarter valued at about $36,000. Fifth Third Bancorp acquired a new stake in JBT Marel in the 2nd quarter valued at about $50,000. Public Employees Retirement System of Ohio acquired a new stake in JBT Marel in the 2nd quarter valued at about $63,000. Finally, Hilltop National Bank acquired a new stake in JBT Marel in the 2nd quarter valued at about $89,000. Institutional investors and hedge funds own 98.92% of the company’s stock.

JBT Marel Stock Performance

NYSE:JBTM opened at $126.12 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.53 and a current ratio of 0.93. The stock has a market capitalization of $6.55 billion, a P/E ratio of -55.07, a PEG ratio of 1.72 and a beta of 1.21. The company has a 50 day moving average price of $137.59 and a 200 day moving average price of $127.72. JBT Marel Corporation has a fifty-two week low of $90.08 and a fifty-two week high of $148.76.

JBT Marel (NYSE:JBTM) last posted its quarterly earnings data 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%. Equities research analysts forecast that JBT Marel Corporation will post 5.21 EPS for the current year.

JBT Marel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors 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 dividend yield of 0.3%. JBT Marel’s dividend payout ratio (DPR) is presently -17.47%.

Analyst Ratings Changes

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