16,522 Shares in JBT Marel Corporation $JBTM Bought by Brown Wealth Management LLC

Brown Wealth Management LLC purchased a new stake in JBT Marel Corporation (NYSE:JBTM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 16,522 shares of the company’s stock, valued at approximately $2,321,000.

Several other institutional investors and hedge funds have also made changes to their positions in JBTM. Geode Capital Management LLC purchased a new stake in JBT Marel during the second quarter worth approximately $141,026,000. Alliancebernstein L.P. purchased a new position in JBT Marel in the second quarter valued at approximately $135,854,000. Champlain Investment Partners LLC acquired a new stake in JBT Marel during the second quarter worth approximately $85,029,000. Bamco Inc. NY acquired a new stake in JBT Marel during the second quarter worth approximately $84,182,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of JBT Marel in the 2nd quarter valued at $77,963,000. 98.92% of the stock is owned by institutional investors and hedge funds.

JBT Marel Stock Up 3.9%

Shares of NYSE:JBTM opened at $163.45 on Tuesday. JBT Marel Corporation has a 1-year low of $90.08 and a 1-year high of $163.88. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.93 and a quick ratio of 0.53. The stock has a market cap of $8.49 billion, a P/E ratio of -72.97, a P/E/G ratio of 1.54 and a beta of 1.01. The firm has a fifty day moving average price of $152.22 and a 200 day moving average price of $142.70.

JBT Marel (NYSE:JBTM) last announced its earnings results on Monday, November 3rd. The company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.43. JBT Marel had a negative net margin of 3.39% and a positive return on equity of 7.88%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $936.75 million. JBT Marel’s revenue was up 120.6% compared to the same quarter last year. Sell-side analysts predict 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 Monday, December 29th. Shareholders of record on Monday, December 15th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.40 annualized dividend and a yield of 0.2%. JBT Marel’s dividend payout ratio is currently -17.86%.

Insider Buying and Selling

In other JBT Marel news, Director Olafur S. Gudmundsson sold 10,000 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $150.09, for a total transaction of $1,500,900.00. Following the completion of the sale, the director directly owned 9,980 shares of the company’s stock, valued at approximately $1,497,898.20. This trade represents a 50.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of JBT Marel in a research note on Thursday, January 22nd. Jefferies Financial Group raised JBT Marel from a “hold” rating to a “buy” rating and raised their price objective for the stock from $150.00 to $180.00 in a report on Wednesday, December 10th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $174.50.

JBT Marel Company Profile

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.