Granite Investment Partners LLC Invests $3.80 Million in JBT Marel Corporation $JBTM

Granite Investment Partners LLC acquired a new position in shares of JBT Marel Corporation (NYSE:JBTM) during the 2nd quarter, Holdings Channel reports. The fund acquired 31,611 shares of the company’s stock, valued at approximately $3,802,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp purchased a new stake in JBT Marel in the 2nd quarter worth about $50,000. Public Employees Retirement System of Ohio bought a new stake in JBT Marel during the 2nd quarter valued at $63,000. PineStone Asset Management Inc. bought a new stake in shares of JBT Marel in the second quarter valued at about $10,490,000. Congress Asset Management Co. bought a new stake in shares of JBT Marel in the 2nd quarter valued at about $53,515,000. Finally, State of Alaska Department of Revenue purchased a new stake in JBT Marel during the second quarter worth $3,308,000. Hedge funds and other institutional investors own 98.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of JBT Marel in a research report on Wednesday, October 8th. Robert W. Baird set a $169.00 target price on JBT Marel in a research note on Friday, October 3rd. Finally, William Blair upgraded shares of JBT Marel from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 6th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $156.00.

JBT Marel Stock Performance

Shares of JBTM stock opened at $140.14 on Wednesday. JBT Marel Corporation has a 12-month low of $90.08 and a 12-month high of $148.76. The company has a market capitalization of $7.28 billion, a P/E ratio of -61.20, a P/E/G ratio of 1.72 and a beta of 1.18. The company has a current ratio of 0.93, a quick ratio of 0.53 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $136.80 and its two-hundred day moving average is $132.68.

JBT Marel (NYSE:JBTM) last issued its quarterly earnings results on Monday, November 3rd. The company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.51 by $0.43. JBT Marel had a negative net margin of 5.08% and a positive return on equity of 7.96%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $936.75 million. The company’s 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 expect that JBT Marel Corporation will post 5.21 EPS for the current fiscal year.

Insider Activity

In related news, Director Olafur S. Gudmundsson sold 20,000 shares of the stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $141.79, for a total value of $2,835,800.00. Following the completion of the transaction, the director directly owned 19,980 shares of the company’s stock, valued at approximately $2,832,964.20. This represents a 50.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.69% of the stock is owned by corporate insiders.

JBT Marel 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.