Rhumbline Advisers Boosts Stock Holdings in JBT Marel Corporation $JBTM

Rhumbline Advisers increased its position in shares of JBT Marel Corporation (NYSE:JBTM) by 8.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 159,055 shares of the company’s stock after buying an additional 12,114 shares during the quarter. Rhumbline Advisers’ holdings in JBT Marel were worth $22,339,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC purchased a new stake in shares of JBT Marel during the 2nd quarter worth about $141,026,000. Alliancebernstein L.P. acquired a new position in JBT Marel in the 2nd quarter worth about $135,854,000. Champlain Investment Partners LLC purchased a new position in JBT Marel during the second quarter worth approximately $85,029,000. Bamco Inc. NY purchased a new position in JBT Marel during the second quarter worth approximately $84,182,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in JBT Marel in the second quarter valued at approximately $77,963,000. Institutional investors and hedge funds own 98.92% of the company’s stock.

JBT Marel Stock Up 0.2%

JBTM stock opened at $163.72 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.53 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average of $156.97 and a two-hundred day moving average of $144.77. JBT Marel Corporation has a 12 month low of $90.08 and a 12 month high of $170.19. The company has a market cap of $8.51 billion, a price-to-earnings ratio of -73.09, a PEG ratio of 1.60 and a beta of 1.01.

JBT Marel Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of JBT Marel in a research note on Thursday, January 22nd. Jefferies Financial Group upgraded shares of JBT Marel from a “hold” rating to a “buy” rating and upped their price objective for the stock from $150.00 to $180.00 in a research report on Wednesday, December 10th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, JBT Marel presently has an average rating of “Moderate Buy” and a consensus price target of $174.50.

Insider Buying and Selling

In related news, Director Olafur S. Gudmundsson sold 20,000 shares of JBT Marel stock in a transaction that occurred on 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 transaction, the director owned 19,980 shares in the company, valued at approximately $2,832,964.20. This trade represents a 50.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.10% 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.