Kornitzer Capital Management Inc. KS Sells 26,165 Shares of JBT Marel Corporation $JBTM

Kornitzer Capital Management Inc. KS cut its stake in JBT Marel Corporation (NYSE:JBTM) by 25.8% in the third quarter, HoldingsChannel.com reports. The fund owned 75,275 shares of the company’s stock after selling 26,165 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in JBT Marel were worth $10,572,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC bought a new stake in shares of JBT Marel in the second quarter worth $141,026,000. Alliancebernstein L.P. bought a new stake in JBT Marel during the 2nd quarter worth about $135,854,000. Champlain Investment Partners LLC acquired a new position in shares of JBT Marel during the 2nd quarter worth about $85,029,000. Bamco Inc. NY bought a new position in JBT Marel in the second quarter valued at approximately $84,182,000. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in shares of JBT Marel during the 2nd quarter worth approximately $83,397,000. Institutional investors and hedge funds own 98.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on JBTM shares. Jefferies Financial Group raised shares of JBT Marel from a “hold” rating to a “buy” rating and raised their target price for the company from $150.00 to $180.00 in a research note on Wednesday, December 10th. Robert W. Baird set a $169.00 price objective on shares of JBT Marel in a research report on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of JBT Marel in a report on Thursday. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.50.

JBT Marel Trading Up 0.9%

Shares of NYSE:JBTM opened at $155.56 on Tuesday. The stock has a market cap of $8.08 billion, a PE ratio of -69.45, a P/E/G ratio of 1.50 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 12-month low of $90.08 and a 12-month high of $160.84. The business has a 50 day moving average of $149.95 and a 200-day moving average of $141.72.

JBT Marel (NYSE:JBTM) last released its quarterly earnings results on Monday, November 3rd. The company reported $1.94 earnings per share (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 the consensus estimate of $936.75 million. JBT Marel had a positive return on equity of 7.88% and a negative net margin of 3.39%.The firm’s revenue for the quarter was up 120.6% compared to the same quarter last year. JBT Marel has set its FY 2025 guidance at 6.100-6.400 EPS. As a group, equities research analysts forecast that JBT Marel Corporation will post 5.21 earnings per share for the current year.

JBT Marel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Monday, December 15th were given a dividend of $0.10 per share. 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 0.3%. JBT Marel’s dividend payout ratio is currently -17.86%.

Insider Activity at JBT Marel

In related news, Director Olafur S. Gudmundsson sold 20,000 shares of the business’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 completion of the transaction, the director owned 19,980 shares of the company’s stock, valued at $2,832,964.20. The trade was a 50.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.10% of the company’s stock.

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.