700,000 Shares in JBT Marel Corporation $JBTM Bought by Bamco Inc. NY

Bamco Inc. NY acquired a new position in shares of JBT Marel Corporation (NYSE:JBTM) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 700,000 shares of the company’s stock, valued at approximately $84,182,000. Bamco Inc. NY owned 1.35% of JBT Marel as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Truist Financial Corp purchased a new stake in JBT Marel in the 2nd quarter worth about $2,292,000. Vontobel Holding Ltd. bought a new position in shares of JBT Marel during the second quarter valued at approximately $389,000. Yousif Capital Management LLC bought a new position in shares of JBT Marel during the second quarter valued at approximately $2,104,000. Envestnet Asset Management Inc. purchased a new stake in shares of JBT Marel in the second quarter worth approximately $29,873,000. Finally, Thematics Asset Management bought a new stake in shares of JBT Marel during the 2nd quarter worth approximately $25,080,000. Hedge funds and other institutional investors own 98.92% of the company’s stock.

JBT Marel Price Performance

Shares of JBTM stock opened at $154.60 on Friday. JBT Marel Corporation has a twelve month low of $90.08 and a twelve month high of $156.46. The company has a current ratio of 0.93, a quick ratio of 0.53 and a debt-to-equity ratio of 0.34. The stock has a fifty day simple moving average of $137.77 and a two-hundred day simple moving average of $134.13. The stock has a market capitalization of $8.03 billion, a price-to-earnings ratio of -69.02, a P/E/G ratio of 1.82 and a beta of 1.01.

JBT Marel (NYSE:JBTM) last released its quarterly earnings data on Monday, November 3rd. The company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.43. JBT Marel had a positive return on equity of 7.88% and a negative net margin of 3.39%.The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $936.75 million. JBT Marel’s revenue was up 120.6% compared to the same quarter last year. JBT Marel has set its FY 2025 guidance at 6.100-6.400 EPS. On average, analysts predict that JBT Marel Corporation will post 5.21 EPS for the current fiscal year.

JBT Marel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 29th. Stockholders of record on Monday, December 15th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 15th. JBT Marel’s dividend payout ratio is presently -17.86%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on JBTM shares. Jefferies Financial Group upgraded JBT Marel from a “hold” rating to a “buy” rating and boosted their price objective for the company from $150.00 to $180.00 in a report on Wednesday. Robert W. Baird set a $169.00 target price on shares of JBT Marel in a research note on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of JBT Marel in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $164.00.

Insider Activity

In related news, Director Olafur S. Gudmundsson sold 20,000 shares of JBT Marel stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $141.79, for a total transaction of $2,835,800.00. Following the transaction, the director directly owned 19,980 shares of the company’s stock, valued at $2,832,964.20. This trade represents a 50.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.69% of the company’s stock.

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.