John Bean Technologies (NYSE:JBT) Shares Down 3.8% – Here’s What Happened

John Bean Technologies Co. (NYSE:JBT)’s share price traded down 3.8% during trading on Friday . The stock traded as low as $113.59 and last traded at $113.59. 138,999 shares changed hands during trading, a decline of 48% from the average session volume of 266,805 shares. The stock had previously closed at $118.02.

John Bean Technologies Stock Performance

The company has a market capitalization of $3.64 billion, a PE ratio of 21.23, a PEG ratio of 1.33 and a beta of 1.25. The firm has a 50-day moving average of $94.26 and a two-hundred day moving average of $94.05. The company has a quick ratio of 1.96, a current ratio of 2.54 and a debt-to-equity ratio of 0.43.

John Bean Technologies (NYSE:JBT) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.09. John Bean Technologies had a net margin of 10.25% and a return on equity of 10.30%. The firm had revenue of $453.80 million during the quarter, compared to analyst estimates of $442.20 million. During the same period in the previous year, the firm earned $1.11 EPS. The business’s quarterly revenue was up 12.4% on a year-over-year basis. Research analysts anticipate that John Bean Technologies Co. will post 5.18 EPS for the current year.

John Bean Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Monday, August 19th. John Bean Technologies’s payout ratio is currently 7.42%.

Hedge Funds Weigh In On John Bean Technologies

Several institutional investors and hedge funds have recently modified their holdings of JBT. SG Americas Securities LLC grew its holdings in John Bean Technologies by 192.5% in the second quarter. SG Americas Securities LLC now owns 8,911 shares of the industrial products company’s stock valued at $846,000 after purchasing an additional 5,865 shares during the period. UniSuper Management Pty Ltd acquired a new stake in John Bean Technologies in the 1st quarter valued at $685,000. Homestead Advisers Corp increased its holdings in John Bean Technologies by 31.6% in the 1st quarter. Homestead Advisers Corp now owns 34,600 shares of the industrial products company’s stock worth $3,629,000 after acquiring an additional 8,300 shares in the last quarter. Edgestream Partners L.P. acquired a new position in John Bean Technologies during the first quarter worth $1,902,000. Finally, D. E. Shaw & Co. Inc. lifted its holdings in John Bean Technologies by 37.2% during the second quarter. D. E. Shaw & Co. Inc. now owns 236,865 shares of the industrial products company’s stock valued at $22,495,000 after purchasing an additional 64,280 shares in the last quarter. Hedge funds and other institutional investors own 98.92% of the company’s stock.

About John Bean Technologies

John Bean Technologies 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.