Brown Wealth Management LLC Acquires New Stake in JBT Marel Corporation $JBTM

Brown Wealth Management LLC acquired a new stake in JBT Marel Corporation (NYSE:JBTM) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 16,522 shares of the company’s stock, valued at approximately $2,321,000.

Several other hedge funds also recently made changes to their positions in the company. Salomon & Ludwin LLC purchased a new stake in shares of JBT Marel in the third quarter valued at about $25,000. First Horizon Corp purchased a new stake in JBT Marel in the 3rd quarter valued at approximately $27,000. UMB Bank n.a. acquired a new position in JBT Marel during the 3rd quarter worth approximately $27,000. Steward Partners Investment Advisory LLC purchased a new position in shares of JBT Marel during the 2nd quarter worth approximately $28,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in shares of JBT Marel in the 2nd quarter valued at approximately $28,000. Institutional investors and hedge funds own 98.92% of the company’s stock.

Insider Transactions at JBT Marel

In other JBT Marel news, Director Olafur S. Gudmundsson sold 20,000 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $141.79, for a total value of $2,835,800.00. Following the sale, the director owned 19,980 shares of the company’s stock, valued at $2,832,964.20. This represents a 50.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

JBT Marel Stock Performance

Shares of JBTM stock opened at $163.45 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.53 and a current ratio of 0.93. The stock has a market cap of $8.49 billion, a PE ratio of -72.97, a P/E/G ratio of 1.54 and a beta of 1.01. JBT Marel Corporation has a 1 year low of $90.08 and a 1 year high of $163.88. The stock has a fifty day moving average price of $152.22 and a 200 day moving average price of $142.70.

JBT Marel (NYSE:JBTM) last released its quarterly earnings results 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. The business’s revenue for the quarter was up 120.6% compared to the same quarter last year. Sell-side analysts forecast that JBT Marel Corporation will post 5.21 earnings per share for the current fiscal year.

JBT Marel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 29th. Shareholders of record on Monday, December 15th were given a dividend of $0.10 per share. The ex-dividend date was Monday, December 15th. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. JBT Marel’s payout ratio is presently -17.86%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on JBTM shares. Jefferies Financial Group raised 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 report on Wednesday, December 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of JBT Marel in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.50.

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.