Tripletail Wealth Management LLC Buys Shares of 144,615 JBT Marel Corporation $JBTM

Tripletail Wealth Management LLC purchased a new stake in shares of JBT Marel Corporation (NYSE:JBTM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 144,615 shares of the company’s stock, valued at approximately $17,391,000. JBT Marel accounts for about 26.1% of Tripletail Wealth Management LLC’s holdings, making the stock its largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JBTM. Steward Partners Investment Advisory LLC purchased a new stake in shares of JBT Marel during the second quarter worth $28,000. EverSource Wealth Advisors LLC acquired a new stake in JBT Marel in the 2nd quarter valued at approximately $28,000. JTC Employer Solutions Trustee Ltd acquired a new position in shares of JBT Marel during the second quarter valued at about $29,000. Northwestern Mutual Wealth Management Co. acquired a new stake in JBT Marel during the second quarter worth $29,000. Finally, Allworth Financial LP bought a new position in shares of JBT Marel during the 2nd quarter worth approximately $30,000. Hedge funds and other institutional investors own 98.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on JBTM. Robert W. Baird set a $169.00 price objective on shares of JBT Marel in a report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of JBT Marel in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, JBT Marel currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.00.

JBT Marel Trading Down 1.3%

Shares of NYSE:JBTM opened at $139.21 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.53 and a current ratio of 0.93. JBT Marel Corporation has a 52-week low of $90.08 and a 52-week high of $148.76. The company has a 50-day simple moving average of $137.14 and a 200 day simple moving average of $133.38. The company has a market capitalization of $7.23 billion, a P/E ratio of -62.15, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00.

JBT Marel (NYSE:JBTM) last issued 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. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $936.75 million. JBT Marel had a negative net margin of 3.39% and a positive return on equity of 7.88%. The firm’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. Sell-side analysts forecast that JBT Marel Corporation will post 5.21 earnings per share for the current year.

JBT Marel Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 29th. Stockholders of record on Monday, December 15th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, December 15th. 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 currently -17.86%.

Insider Transactions at JBT Marel

In other JBT Marel news, Director Olafur S. Gudmundsson sold 20,000 shares of the 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 owned 19,980 shares in the company, valued at $2,832,964.20. This represents a 50.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by corporate insiders.

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.