Public Sector Pension Investment Board Buys 44,962 Shares of JBT Marel Corporation $JBTM

Public Sector Pension Investment Board lifted its stake in shares of JBT Marel Corporation (NYSE:JBTM) by 28.5% during the third quarter, Holdings Channel.com reports. The firm owned 202,690 shares of the company’s stock after buying an additional 44,962 shares during the period. Public Sector Pension Investment Board’s holdings in JBT Marel were worth $28,468,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of JBTM. Salomon & Ludwin LLC bought a new position in JBT Marel in the 3rd quarter worth approximately $25,000. First Horizon Corp bought a new position in JBT Marel in the 3rd quarter valued at $27,000. UMB Bank n.a. acquired a new stake in shares of JBT Marel in the 3rd quarter valued at $27,000. Steward Partners Investment Advisory LLC bought a new stake in shares of JBT Marel during the second quarter worth $28,000. Finally, EverSource Wealth Advisors LLC bought a new stake in shares of JBT Marel during the second quarter worth $28,000. Institutional investors and hedge funds own 98.92% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on JBTM shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of JBT Marel in a report on Thursday, January 22nd. Jefferies Financial Group upgraded shares of JBT Marel from a “hold” rating to a “buy” rating and upped their target price for the company from $150.00 to $180.00 in a research report on Wednesday, December 10th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $174.50.

JBT Marel Stock Up 0.2%

NYSE:JBTM opened at $163.72 on Friday. 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 $170.19. The stock’s fifty day simple moving average is $156.48 and its 200-day simple moving average is $144.47. The firm has a market capitalization of $8.51 billion, a P/E ratio of -73.09, a P/E/G ratio of 1.59 and a beta of 1.01.

JBT Marel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 29th. Shareholders of record on Monday, December 15th were issued a dividend of $0.10 per share. The ex-dividend date was Monday, December 15th. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. JBT Marel’s dividend payout ratio (DPR) is -17.86%.

Insider Activity

In other 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 transaction of $2,835,800.00. Following the completion of the transaction, the director directly owned 19,980 shares in the company, valued at approximately $2,832,964.20. The trade was a 50.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.69% 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.