Park Avenue Securities LLC Purchases Shares of 6,510 JBT Marel Corporation $JBTM

Park Avenue Securities LLC acquired a new stake in JBT Marel Corporation (NYSE:JBTM) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 6,510 shares of the company’s stock, valued at approximately $914,000.

A number of other large investors have also recently made changes to their positions in JBTM. Confluence Investment Management LLC acquired a new stake in shares of JBT Marel in the 3rd quarter valued at $12,034,000. Squarepoint Ops LLC increased its holdings in JBT Marel by 344.1% in the second quarter. Squarepoint Ops LLC now owns 37,889 shares of the company’s stock valued at $4,557,000 after buying an additional 29,358 shares during the last quarter. Truist Financial Corp acquired a new stake in JBT Marel in the second quarter valued at $2,292,000. Harbor Capital Advisors Inc. acquired a new stake in JBT Marel in the third quarter valued at $1,870,000. Finally, Vontobel Holding Ltd. purchased a new stake in JBT Marel during the 2nd quarter worth about $389,000. 98.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JBTM has been the topic of a number of recent analyst reports. Jefferies Financial Group upgraded 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 report on Wednesday, December 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of JBT Marel in a research note on Wednesday, October 8th. Finally, Robert W. Baird set a $169.00 price objective on shares of JBT Marel in a report on Friday, October 3rd. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, JBT Marel has a consensus rating of “Moderate Buy” and an average target price of $164.00.

Insiders Place Their Bets

In other JBT Marel news, Director Olafur S. Gudmundsson sold 10,000 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $150.09, for a total transaction of $1,500,900.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.

JBT Marel Stock Up 0.9%

Shares of NYSE JBTM opened at $156.41 on Wednesday. The stock has a market cap of $8.13 billion, a PE ratio of -69.82, a price-to-earnings-growth ratio of 1.51 and a beta of 1.00. The company has a quick ratio of 0.53, a current ratio of 0.93 and a debt-to-equity ratio of 0.34. JBT Marel Corporation has a 52-week low of $90.08 and a 52-week high of $160.84. The business has a 50-day moving average price of $146.84 and a 200 day moving average price of $139.78.

JBT Marel (NYSE:JBTM) last released its quarterly earnings results on Monday, November 3rd. The company reported $1.94 EPS for the quarter, topping 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 positive return on equity of 7.88% and a negative net margin of 3.39%.The company’s revenue for the quarter 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 earnings per share for the current year.

JBT Marel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Monday, December 15th were given a $0.10 dividend. The ex-dividend date was Monday, December 15th. This represents a $0.40 annualized dividend and a yield of 0.3%. JBT Marel’s dividend payout ratio is -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.