17,944 Shares in JBT Marel Corporation $JBTM Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D purchased a new position in shares of JBT Marel Corporation (NYSE:JBTM) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 17,944 shares of the company’s stock, valued at approximately $2,158,000.

Several other large investors have also recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of JBT Marel during the second quarter worth approximately $83,397,000. Congress Asset Management Co. purchased a new stake in JBT Marel in the 2nd quarter valued at $53,515,000. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in JBT Marel in the 2nd quarter valued at $39,765,000. William Blair Investment Management LLC purchased a new stake in JBT Marel in the 2nd quarter valued at $34,646,000. Finally, Conestoga Capital Advisors LLC purchased a new stake in JBT Marel in the 2nd quarter valued at $20,746,000. 98.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

JBTM has been the subject of several analyst reports. Robert W. Baird set a $169.00 target price on JBT Marel in a report on Friday, October 3rd. William Blair upgraded JBT Marel from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 6th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of JBT Marel in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, JBT Marel presently has an average rating of “Moderate Buy” and a consensus target price of $156.00.

JBT Marel Stock Performance

Shares of JBT Marel stock opened at $127.69 on Wednesday. JBT Marel Corporation has a 52 week low of $90.08 and a 52 week high of $148.76. The business’s fifty day simple moving average is $138.63 and its 200-day simple moving average is $126.89. The firm has a market cap of $6.64 billion, a PE ratio of -55.76, a price-to-earnings-growth ratio of 1.76 and a beta of 1.21. The company has a quick ratio of 0.53, a current ratio of 0.93 and a debt-to-equity ratio of 0.35.

JBT Marel (NYSE:JBTM) last announced its quarterly earnings results on Tuesday, February 22nd. The company reported $1.02 EPS for the quarter. JBT Marel had a positive return on equity of 7.96% and a negative net margin of 5.08%.The business had revenue of $439.40 million for the quarter. Equities 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 Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, August 18th. JBT Marel’s dividend payout ratio is -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.