NJ State Employees Deferred Compensation Plan Buys Shares of 2,160 JBT Marel Corporation $JBTM

NJ State Employees Deferred Compensation Plan bought a new stake in shares of JBT Marel Corporation (NYSE:JBTM) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,160 shares of the company’s stock, valued at approximately $260,000.

A number of other hedge funds have also added to or reduced their stakes in JBTM. Vaughan Nelson Investment Management L.P. purchased a new position in JBT Marel during the 2nd quarter valued at about $83,397,000. Congress Asset Management Co. purchased a new position in JBT Marel during the 2nd quarter valued at about $53,515,000. Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in JBT Marel during the 2nd quarter valued at about $39,765,000. William Blair Investment Management LLC purchased a new position in JBT Marel during the 2nd quarter valued at about $34,646,000. Finally, Envestnet Asset Management Inc. bought a new stake in shares of JBT Marel during the 2nd quarter valued at about $29,873,000. Hedge funds and other institutional investors own 98.92% of the company’s stock.

JBT Marel Stock Performance

NYSE:JBTM opened at $138.42 on Wednesday. The business has a 50 day moving average of $137.02 and a 200 day moving average of $128.24. The company has a market capitalization of $7.19 billion, a price-to-earnings ratio of -60.44, a PEG ratio of 1.72 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 released its earnings results on Monday, November 3rd. The company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.43. The company 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 7.96% and a negative net margin of 5.08%.The company’s revenue 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. On average, sell-side analysts predict that JBT Marel Corporation will post 5.21 earnings per share for the current fiscal year.

JBT Marel Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on JBTM shares. William Blair upgraded JBT Marel from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 6th. Weiss Ratings restated a “hold (c-)” rating on shares of JBT Marel in a research report on Wednesday, October 8th. Finally, Robert W. Baird set a $169.00 price objective on shares of JBT Marel in a research report on Friday, October 3rd. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $156.00.

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.