Knights of Columbus Asset Advisors LLC Makes New Investment in JBT Marel Corporation $JBTM

Knights of Columbus Asset Advisors LLC purchased a new position in JBT Marel Corporation (NYSE:JBTM) in the third quarter, HoldingsChannel reports. The firm purchased 3,901 shares of the company’s stock, valued at approximately $548,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JBTM. KLP Kapitalforvaltning AS lifted its stake 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 buying an additional 100 shares in the last quarter. CIBC Asset Management Inc raised its holdings 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 acquiring an additional 166 shares during the period. Salomon & Ludwin LLC purchased a new position in shares of JBT Marel in the third quarter valued at about $25,000. First Horizon Corp purchased a new position in shares of JBT Marel in the third quarter valued at about $27,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of JBT Marel by 2.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,132 shares of the company’s stock worth $1,283,000 after purchasing an additional 211 shares in the last quarter. 98.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on JBTM shares. Jefferies Financial Group raised JBT Marel from a “hold” rating to a “buy” rating and boosted their price target for the stock from $150.00 to $180.00 in a report on Wednesday, December 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of JBT Marel in a report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.50.

Insider Activity

In other news, Director Olafur S. Gudmundsson sold 10,000 shares of the company’s 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 approximately $1,497,898.20. This represents a 50.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.69% of the company’s stock.

JBT Marel Price Performance

Shares of JBT Marel stock opened at $157.57 on Friday. The firm has a market cap of $8.19 billion, a PE ratio of -70.34, a PEG ratio of 1.55 and a beta of 1.00. The stock has a 50 day moving average of $151.74 and a 200 day moving average of $142.40. 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 12 month low of $90.08 and a 12 month 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 for the quarter, compared to analysts’ expectations of $936.75 million. The firm’s revenue for the quarter 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, research analysts expect that JBT Marel Corporation will post 5.21 EPS for the current fiscal year.

JBT Marel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 29th. Shareholders of record on Monday, December 15th were paid a $0.10 dividend. 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 presently -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.