IQ EQ FUND MANAGEMENT IRELAND Ltd Invests $2.67 Million in JBT Marel Corporation $JBTM

IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in JBT Marel Corporation (NYSE:JBTM) during the second quarter, HoldingsChannel.com reports. The fund purchased 22,168 shares of the company’s stock, valued at approximately $2,666,000.

Other hedge funds have also recently made changes to their positions in the company. JTC Employer Solutions Trustee Ltd bought a new stake in shares of JBT Marel in the 2nd quarter worth approximately $29,000. Costello Asset Management INC bought a new stake in shares of JBT Marel in the 2nd quarter worth approximately $36,000. Fifth Third Bancorp bought a new stake in shares of JBT Marel in the 2nd quarter worth approximately $50,000. Public Employees Retirement System of Ohio bought a new stake in shares of JBT Marel in the 2nd quarter worth approximately $63,000. Finally, Hilltop National Bank bought a new stake in shares of JBT Marel in the 2nd quarter worth approximately $89,000. 98.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

JBTM has been the topic of a number of analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of JBT Marel in a research report on Wednesday, October 8th. William Blair upgraded shares of JBT Marel from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 6th. Finally, Robert W. Baird set a $169.00 price objective on shares of JBT Marel in a report on Friday, October 3rd. Two 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, the company presently has an average rating of “Moderate Buy” and an average price target of $156.00.

JBT Marel Trading Down 1.0%

Shares of JBT Marel stock opened at $128.84 on Tuesday. The company’s fifty day simple moving average is $138.88 and its 200-day simple moving average is $126.67. The stock has a market capitalization of $6.70 billion, a PE ratio of -56.26, a P/E/G ratio of 1.78 and a beta of 1.21. JBT Marel Corporation has a 1-year low of $90.08 and a 1-year high of $148.76. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.93 and a quick ratio of 0.53.

JBT Marel (NYSE:JBTM) last issued its quarterly earnings results on Tuesday, February 22nd. The company reported $1.02 earnings per share for the quarter. The business had revenue of $439.40 million for the quarter. JBT Marel had a negative net margin of 5.08% and a positive return on equity of 7.96%. As a group, equities analysts anticipate that JBT Marel Corporation will post 5.21 earnings per share for the current year.

JBT Marel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, August 18th. JBT Marel’s dividend payout ratio (DPR) is presently -17.47%.

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.