Rhumbline Advisers Purchases 12,114 Shares of JBT Marel Corporation $JBTM

Rhumbline Advisers raised its position in shares of JBT Marel Corporation (NYSE:JBTM) by 8.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 159,055 shares of the company’s stock after buying an additional 12,114 shares during the quarter. Rhumbline Advisers owned about 0.31% of JBT Marel worth $22,339,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Profund Advisors LLC raised its stake in shares of JBT Marel by 5.4% during the 3rd quarter. Profund Advisors LLC now owns 2,331 shares of the company’s stock worth $327,000 after acquiring an additional 120 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of JBT Marel by 15.4% during the third quarter. Smartleaf Asset Management LLC now owns 741 shares of the company’s stock worth $102,000 after purchasing an additional 99 shares in the last quarter. Portside Wealth Group LLC lifted its holdings in shares of JBT Marel by 23.4% during the 3rd quarter. Portside Wealth Group LLC now owns 2,999 shares of the company’s stock valued at $421,000 after purchasing an additional 569 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of JBT Marel by 1,172.4% in the 3rd quarter. Bessemer Group Inc. now owns 170,165 shares of the company’s stock worth $23,901,000 after purchasing an additional 156,791 shares in the last quarter. Finally, Brown Wealth Management LLC purchased a new position in JBT Marel during the 3rd quarter worth $2,321,000. Hedge funds and other institutional investors own 98.92% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, Director Olafur S. Gudmundsson sold 20,000 shares of the company’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $141.79, for a total value of $2,835,800.00. Following the sale, the director owned 19,980 shares in the company, valued at $2,832,964.20. This represents a 50.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.

JBT Marel Stock Up 0.2%

JBTM stock opened at $163.72 on Tuesday. The company has a market capitalization of $8.51 billion, a P/E ratio of -73.09, a price-to-earnings-growth ratio of 1.60 and a beta of 1.01. JBT Marel Corporation has a 12 month low of $90.08 and a 12 month high of $170.19. The firm’s fifty day simple moving average is $156.97 and its 200-day simple moving average is $144.77. 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 Dividend Announcement

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 was Monday, December 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. JBT Marel’s dividend payout ratio (DPR) is presently -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.