Mason Street Advisors LLC acquired a new position in shares of John Bean Technologies Corp. (NYSE:JBT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,711 shares of the company’s stock, valued at approximately $350,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Japan Co. Ltd raised its stake in John Bean Technologies Corp. by 1.7% in the second quarter. BlackRock Japan Co. Ltd now owns 1,787 shares of the company’s stock worth $109,000 after buying an additional 30 shares during the last quarter. BlackRock Inc. raised its stake in shares of John Bean Technologies Corp. by 135.1% in the first quarter. BlackRock Inc. now owns 1,897 shares of the company’s stock valued at $107,000 after buying an additional 1,090 shares during the last quarter. KBC Group NV purchased a new stake in shares of John Bean Technologies Corp. during the second quarter valued at approximately $159,000. Quantbot Technologies LP raised its stake in shares of John Bean Technologies Corp. by 156.7% in the second quarter. Quantbot Technologies LP now owns 3,065 shares of the company’s stock valued at $187,000 after buying an additional 1,871 shares during the last quarter. Finally, Amalgamated Bank purchased a new stake in shares of John Bean Technologies Corp. during the second quarter valued at approximately $228,000. Institutional investors and hedge funds own 99.02% of the company’s stock.
Shares of John Bean Technologies Corp. (NYSE:JBT) opened at 73.70 on Friday. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 38.33 and a beta of 1.35. The company has a 50 day moving average price of $68.83 and a 200 day moving average price of $62.52. John Bean Technologies Corp. has a one year low of $38.42 and a one year high of $74.22.
John Bean Technologies Corp. (NYSE:JBT) last posted its earnings results on Tuesday, July 26th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.11. The company earned $328.80 million during the quarter, compared to analyst estimates of $304.19 million. John Bean Technologies Corp. had a return on equity of 47.47% and a net margin of 4.70%. John Bean Technologies Corp.’s revenue was up 29.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.48 earnings per share. Equities analysts predict that John Bean Technologies Corp. will post $2.33 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.40 dividend on an annualized basis and a yield of 0.54%. This is a positive change from John Bean Technologies Corp.’s previous quarterly dividend of $0.09. John Bean Technologies Corp.’s dividend payout ratio is currently 20.83%.
Several brokerages recently commented on JBT. Zacks Investment Research raised John Bean Technologies Corp. from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Friday, July 29th. BB&T Corp. began coverage on John Bean Technologies Corp. in a report on Friday, June 17th. They issued a “buy” rating and a $75.00 price objective for the company.
In other news, EVP Steven R. Smith sold 3,000 shares of the stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $66.50, for a total transaction of $199,500.00. Following the completion of the sale, the executive vice president now owns 64,448 shares in the company, valued at approximately $4,285,792. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.45% of the company’s stock.
About John Bean Technologies Corp.
John Bean Technologies Corporation (JBT) is a technology solutions provider to the segments of the food processing and air transportation industries. The Company designs, manufactures, tests and services technological systems and products. It operates through two segments. The JBT FoodTech segment designs, manufactures services and food processing systems used for fruit juice production, frozen food production, in-container food production and convenience food preparation, among others by the food industry.
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