Summit Global Investments Takes $1.05 Million Position in JBT Marel Corporation $JBTM

Summit Global Investments acquired a new stake in shares of JBT Marel Corporation (NYSE:JBTM) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 7,491 shares of the company’s stock, valued at approximately $1,052,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in JBTM. Diversified Trust Co purchased a new position in JBT Marel during the 3rd quarter worth approximately $1,061,000. Confluence Investment Management LLC purchased a new stake in shares of JBT Marel in the third quarter valued at $12,034,000. Squarepoint Ops LLC boosted its position in shares of JBT Marel by 344.1% in the second quarter. Squarepoint Ops LLC now owns 37,889 shares of the company’s stock worth $4,557,000 after buying an additional 29,358 shares during the period. Truist Financial Corp purchased a new position in shares of JBT Marel during the second quarter valued at $2,292,000. Finally, Harbor Capital Advisors Inc. acquired a new position in JBT Marel during the third quarter valued at $1,870,000. Institutional investors own 98.92% of the company’s stock.

Insider Activity

In related news, Director Olafur S. Gudmundsson sold 10,000 shares of JBT Marel stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $150.09, for a total value of $1,500,900.00. Following the completion of the sale, the director owned 9,980 shares of the company’s stock, valued at approximately $1,497,898.20. The trade was a 50.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

JBTM has been the subject of a number of research reports. Jefferies Financial Group upgraded 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 research report on Wednesday, December 10th. Robert W. Baird set a $169.00 price target on shares of JBT Marel in a research report on Friday, October 3rd. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of JBT Marel in a report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, JBT Marel presently has an average rating of “Moderate Buy” and a consensus target price of $174.50.

JBT Marel Stock Down 0.6%

JBTM opened at $157.57 on Friday. The company has a market capitalization of $8.19 billion, a PE ratio of -70.34, a price-to-earnings-growth ratio of 1.55 and a beta of 1.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.93 and a quick ratio of 0.53. JBT Marel Corporation has a fifty-two week low of $90.08 and a fifty-two week high of $160.84. The business has a 50-day moving average of $151.74 and a 200-day moving average of $142.30.

JBT Marel (NYSE:JBTM) last announced its quarterly earnings results on Monday, November 3rd. The company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.51 by $0.43. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $936.75 million. JBT Marel had a positive return on equity of 7.88% and a negative net margin of 3.39%.The company’s revenue was up 120.6% on a year-over-year basis. JBT Marel has set its FY 2025 guidance at 6.100-6.400 EPS. Equities research analysts forecast 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 was paid on Monday, December 29th. Stockholders of record on Monday, December 15th were issued a dividend of $0.10 per share. The ex-dividend date was 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%.

JBT Marel 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.