JBT Marel Corporation $JBTM Stock Sold by Sterling Capital Management LLC

Sterling Capital Management LLC trimmed its position in shares of JBT Marel Corporation (NYSE:JBTM) by 84.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,039 shares of the company’s stock after selling 5,743 shares during the period. Sterling Capital Management LLC’s holdings in JBT Marel were worth $110,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Willis Investment Counsel boosted its holdings in JBT Marel by 17.0% in the 3rd quarter. Willis Investment Counsel now owns 32,051 shares of the company’s stock worth $3,384,000 after buying an additional 4,650 shares during the period. IFP Advisors Inc increased its stake in JBT Marel by 103.1% in the 3rd quarter. IFP Advisors Inc now owns 20,051 shares of the company’s stock worth $2,117,000 after buying an additional 10,177 shares in the last quarter. PineStone Asset Management Inc. increased its stake in JBT Marel by 7.3% in the 3rd quarter. PineStone Asset Management Inc. now owns 8,829 shares of the company’s stock worth $932,000 after buying an additional 600 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in JBT Marel by 33.3% during the third quarter. Vontobel Holding Ltd. now owns 2,977 shares of the company’s stock valued at $314,000 after acquiring an additional 744 shares during the period. Finally, GAMMA Investing LLC raised its holdings in JBT Marel by 43.9% during the third quarter. GAMMA Investing LLC now owns 4,290 shares of the company’s stock valued at $453,000 after acquiring an additional 1,308 shares during the period. 98.92% of the stock is currently owned by institutional investors.

JBT Marel Price Performance

Shares of NYSE:JBTM opened at $108.82 on Monday. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of 29.65, a P/E/G ratio of 1.21 and a beta of 0.94. The firm has a fifty day moving average price of $110.95 and a 200 day moving average price of $131.26. JBT Marel Corporation has a fifty-two week low of $102.97 and a fifty-two week high of $170.19. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 1.24.

JBT Marel (NYSE:JBTM) last announced its quarterly earnings results on Monday, August 3rd. The company reported $1.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.07). The company had revenue of $981.00 million during the quarter. JBT Marel had a net margin of 4.89% and a return on equity of 8.75%. As a group, sell-side analysts expect that JBT Marel Corporation will post 8.04 earnings per share for the current fiscal year.

JBT Marel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 17th. JBT Marel’s dividend payout ratio is 10.90%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on JBTM. Robert W. Baird dropped their price objective on JBT Marel from $188.00 to $171.00 and set an “outperform” rating for the company in a research note on Thursday, September 24th. KeyCorp began coverage on JBT Marel in a research report on Tuesday, August 25th. They set an “overweight” rating and a $150.00 target price for the company. Barclays began coverage on JBT Marel in a research note on Tuesday, September 8th. They set an “overweight” rating and a $150.00 target price on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of JBT Marel in a report on Wednesday, September 2nd. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $165.20.

About JBT Marel

JBT Marel Corporation (NYSE: JBTM) is a global food processing technology company formed through the combination of JBT Corporation and Marel. The company develops, manufactures and services equipment, integrated production lines and software used throughout the food industry, from primary processing to packaging and related automation.

Its products and solutions support the processing of poultry, meat, fish, prepared foods, pet food, plant-based products, fruits and vegetables, and other food categories.