JBT Marel Corporation $JBTM Stock Sold by Sterling Capital Management LLC

Sterling Capital Management LLC reduced its position in JBT Marel Corporation (NYSE:JBTM) by 84.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,039 shares of the company’s stock after selling 5,743 shares during the period. Sterling Capital Management LLC’s holdings in JBT Marel were worth $110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parallel Advisors LLC increased its position in JBT Marel by 1,211.8% during the first quarter. Parallel Advisors LLC now owns 223 shares of the company’s stock valued at $29,000 after acquiring an additional 206 shares during the last quarter. Transamerica Financial Advisors LLC bought a new position in JBT Marel in the second quarter valued at about $41,000. Public Employees Retirement System of Ohio purchased a new position in JBT Marel in the second quarter worth about $50,000. Northwestern Mutual Wealth Management Co. purchased a new position in JBT Marel in the second quarter worth about $51,000. Finally, State of Wyoming purchased a new position in JBT Marel in the second quarter worth about $75,000. 98.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on JBTM shares. Robert W. Baird reduced their price target on shares of JBT Marel from $188.00 to $171.00 and set an “outperform” rating for the company in a research report on Thursday, September 24th. Barclays initiated coverage on shares of JBT Marel in a report on Tuesday, September 8th. They issued an “overweight” rating and a $150.00 price objective on the stock. KeyCorp initiated coverage on shares of JBT Marel in a research report on Tuesday, August 25th. They set an “overweight” rating and a $150.00 target price for the company. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of JBT Marel in a report on Wednesday, September 2nd. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, JBT Marel currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.20.

JBT Marel Price Performance

NYSE JBTM opened at $108.82 on Monday. The business’s fifty day moving average is $110.95 and its 200 day moving average is $131.26. JBT Marel Corporation has a fifty-two week low of $102.97 and a fifty-two week high of $170.19. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 1.24. The company has a market capitalization of $5.65 billion, a PE ratio of 29.65, a price-to-earnings-growth ratio of 1.21 and a beta of 0.94.

JBT Marel (NYSE:JBTM) last issued its quarterly earnings results on Monday, August 3rd. The company reported $1.95 EPS for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.07). JBT Marel had a return on equity of 8.75% and a net margin of 4.89%. The company had revenue of $981.00 million during the quarter. Sell-side analysts predict that JBT Marel Corporation will post 8.04 earnings per share for the current year.

JBT Marel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 17th. JBT Marel’s payout ratio is presently 10.90%.

About JBT Marel

JBT Marel Corporation (NYSE: JBTM) is a global food processing technology company formed through the combination of JBT Corporation and Marel. The company develops, manufactures and services equipment, integrated production lines and software used throughout the food industry, from primary processing to packaging and related automation.

Its products and solutions support the processing of poultry, meat, fish, prepared foods, pet food, plant-based products, fruits and vegetables, and other food categories.