Summit Global Investments Acquires New Position in JBT Marel Corporation $JBTM

Summit Global Investments acquired a new stake in shares of JBT Marel Corporation (NYSE:JBTM) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,491 shares of the company’s stock, valued at approximately $1,052,000.

Several other hedge funds also recently made changes to their positions in JBTM. KLP Kapitalforvaltning AS raised its position in shares of JBT Marel by 0.9% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 10,800 shares of the company’s stock valued at $1,517,000 after acquiring an additional 100 shares in the last quarter. CIBC Asset Management Inc increased its stake in JBT Marel by 6.1% during the third quarter. CIBC Asset Management Inc now owns 2,878 shares of the company’s stock valued at $404,000 after purchasing an additional 166 shares during the last quarter. Salomon & Ludwin LLC bought a new stake in JBT Marel during the third quarter valued at $25,000. First Horizon Corp acquired a new stake in shares of JBT Marel during the third quarter worth $27,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of JBT Marel by 2.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,132 shares of the company’s stock worth $1,283,000 after buying an additional 211 shares during the last quarter. Institutional investors and hedge funds own 98.92% of the company’s stock.

Insider Buying and Selling at JBT Marel

In related news, Director Olafur S. Gudmundsson sold 10,000 shares of JBT Marel stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $150.09, for a total transaction of $1,500,900.00. Following the sale, the director directly owned 9,980 shares in the company, valued at $1,497,898.20. The trade was a 50.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on JBTM shares. Robert W. Baird set a $169.00 price objective on shares of JBT Marel in a research report on Friday, October 3rd. Jefferies Financial Group upgraded JBT Marel from a “hold” rating to a “buy” rating and increased their price target for the stock from $150.00 to $180.00 in a research report on Wednesday, December 10th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of JBT Marel in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, JBT Marel presently has a consensus rating of “Moderate Buy” and an average price target of $174.50.

JBT Marel Price Performance

Shares of NYSE:JBTM opened at $157.57 on Friday. The firm’s 50 day moving average is $151.74 and its two-hundred day moving average is $142.30. The firm has a market capitalization of $8.19 billion, a P/E ratio of -70.34, a PEG ratio of 1.55 and a beta of 1.00. The company has a current ratio of 0.93, a quick ratio of 0.53 and a debt-to-equity ratio of 0.34. JBT Marel Corporation has a 52 week low of $90.08 and a 52 week high of $160.84.

JBT Marel (NYSE:JBTM) last issued its quarterly earnings data on Monday, November 3rd. The company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.43. JBT Marel had a positive return on equity of 7.88% and a negative net margin of 3.39%.The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $936.75 million. JBT Marel’s quarterly revenue was up 120.6% on a year-over-year basis. JBT Marel has set its FY 2025 guidance at 6.100-6.400 EPS. Analysts anticipate 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 Monday, December 29th. Stockholders of record on Monday, December 15th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, December 15th. JBT Marel’s dividend payout ratio (DPR) is -17.86%.

About JBT Marel

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.