Louisiana State Employees Retirement System Buys New Shares in JBT Marel Corporation $JBTM

Louisiana State Employees Retirement System bought a new stake in JBT Marel Corporation (NYSE:JBTM) in the second quarter, HoldingsChannel reports. The fund bought 21,600 shares of the company’s stock, valued at approximately $2,598,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Fifth Third Bancorp purchased a new stake in JBT Marel in the second quarter valued at approximately $50,000. Public Employees Retirement System of Ohio purchased a new stake in JBT Marel in the second quarter valued at approximately $63,000. Hilltop National Bank acquired a new position in JBT Marel during the second quarter valued at approximately $89,000. Sage Rhino Capital LLC acquired a new position in JBT Marel during the second quarter valued at approximately $208,000. Finally, Janney Montgomery Scott LLC acquired a new position in JBT Marel during the second quarter valued at approximately $272,000. 98.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

JBT Marel Trading Down 4.3%

NYSE JBTM opened at $134.96 on Friday. The company’s fifty day simple moving average is $140.01 and its 200-day simple moving average is $124.87. JBT Marel Corporation has a 52 week low of $90.08 and a 52 week high of $148.76. The company has a current ratio of 0.93, a quick ratio of 0.53 and a debt-to-equity ratio of 0.35. The stock has a market cap of $7.01 billion, a P/E ratio of -58.93, a PEG ratio of 1.97 and a beta of 1.21.

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

JBT Marel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, August 18th. JBT Marel’s payout ratio is presently -17.47%.

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.