Envestnet Portfolio Solutions Inc. Takes $319,000 Position in JBT Marel Corporation $JBTM

Envestnet Portfolio Solutions Inc. bought a new stake in JBT Marel Corporation (NYSE:JBTM) during the second quarter, HoldingsChannel.com reports. The fund bought 2,649 shares of the company’s stock, valued at approximately $319,000.

Other hedge funds have also made changes to their positions in the company. Costello Asset Management INC acquired a new stake in JBT Marel during the 2nd quarter valued at $36,000. Fifth Third Bancorp purchased a new stake in JBT Marel during the 2nd quarter worth $50,000. Public Employees Retirement System of Ohio purchased a new stake in JBT Marel during the 2nd quarter worth $63,000. Hilltop National Bank purchased a new stake in JBT Marel during the 2nd quarter worth $89,000. Finally, Sage Rhino Capital LLC purchased a new stake in JBT Marel during the 2nd quarter worth $208,000. Hedge funds and other institutional investors own 98.92% of the company’s stock.

JBT Marel Price Performance

JBTM opened at $129.87 on Friday. The company has a 50-day moving average of $139.26 and a 200-day moving average of $125.86. The company has a market capitalization of $6.75 billion, a P/E ratio of -56.71, a PEG ratio of 1.77 and a beta of 1.21. JBT Marel Corporation has a 1-year low of $90.08 and a 1-year high of $148.76. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.53 and a current ratio of 0.93.

JBT Marel (NYSE:JBTM) last released its earnings results on Tuesday, February 22nd. The company reported $1.02 earnings per share for the quarter. The company had revenue of $439.40 million during the quarter. JBT Marel had a negative net margin of 5.08% and a positive return on equity of 7.96%. Equities analysts expect that JBT Marel Corporation will post 5.21 EPS for the current fiscal year.

JBT Marel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. JBT Marel’s payout ratio is -17.47%.

Wall Street Analysts Forecast Growth

JBTM has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of JBT Marel in a research note on Wednesday, October 8th. William Blair raised shares of JBT Marel from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 6th. Finally, Robert W. Baird set a $169.00 price target on shares of JBT Marel in a research note on Friday, October 3rd. Two research 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $156.00.

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.