Bessemer Group Inc. Has $23.90 Million Stock Position in JBT Marel Corporation $JBTM

Bessemer Group Inc. grew its position in JBT Marel Corporation (NYSE:JBTM) by 1,172.4% in the third quarter, Holdings Channel.com reports. The fund owned 170,165 shares of the company’s stock after buying an additional 156,791 shares during the period. Bessemer Group Inc.’s holdings in JBT Marel were worth $23,901,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Brown Wealth Management LLC bought a new position in JBT Marel in the third quarter worth $2,321,000. Principal Financial Group Inc. raised its stake in shares of JBT Marel by 9.2% in the 3rd quarter. Principal Financial Group Inc. now owns 252,206 shares of the company’s stock valued at $35,422,000 after buying an additional 21,314 shares in the last quarter. UMB Bank n.a. bought a new position in shares of JBT Marel during the 3rd quarter worth about $27,000. Lisanti Capital Growth LLC lifted its holdings in shares of JBT Marel by 175.0% during the 3rd quarter. Lisanti Capital Growth LLC now owns 48,577 shares of the company’s stock worth $6,823,000 after acquiring an additional 30,912 shares during the period. Finally, Arizona State Retirement System boosted its position in shares of JBT Marel by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 15,378 shares of the company’s stock valued at $2,160,000 after acquiring an additional 213 shares in the last quarter. 98.92% of the stock is currently owned by institutional investors.

JBT Marel Stock Performance

NYSE:JBTM opened at $168.83 on Friday. The stock has a market capitalization of $8.77 billion, a P/E ratio of -75.37, a price-to-earnings-growth ratio of 1.59 and a beta of 1.01. The company has a current ratio of 0.93, a quick ratio of 0.53 and a debt-to-equity ratio of 0.34. JBT Marel Corporation has a 1 year low of $90.08 and a 1 year high of $169.72. The firm has a 50 day moving average of $154.09 and a 200-day moving average of $143.48.

JBT Marel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 29th. Shareholders of record on Monday, December 15th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. JBT Marel’s payout ratio is currently -17.86%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, Director Olafur S. Gudmundsson sold 20,000 shares of the stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $141.79, for a total transaction of $2,835,800.00. Following the sale, the director owned 19,980 shares in the company, valued at approximately $2,832,964.20. This represents a 50.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.69% of the company’s stock.

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.