JBT Marel (NYSE:JBTM) Share Price Crosses Above 50 Day Moving Average – What’s Next?

JBT Marel Corporation (NYSE:JBTM)’s share price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $110.92 and traded as high as $117.37. JBT Marel shares last traded at $115.6490, with a volume of 869,388 shares trading hands.

Wall Street Analysts Forecast Growth

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

JBT Marel Stock Up 5.9%

The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 31.51, a P/E/G ratio of 1.19 and a beta of 0.94. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.24 and a quick ratio of 0.70. The firm’s fifty day moving average price is $110.92 and its 200-day moving average price is $131.05.

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

JBT Marel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, August 17th. JBT Marel’s dividend payout ratio is presently 10.90%.

Institutional Trading of JBT Marel

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of JBT Marel during the second quarter worth about $1,150,221,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of JBT Marel by 8.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,818,441 shares of the company’s stock valued at $263,674,000 after buying an additional 143,049 shares during the period. Bamco Inc. NY bought a new position in JBT Marel in the 2nd quarter valued at approximately $95,781,000. Bank of America Corp DE raised its holdings in JBT Marel by 2.3% in the 1st quarter. Bank of America Corp DE now owns 466,741 shares of the company’s stock valued at $59,682,000 after buying an additional 10,714 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new position in JBT Marel in the 2nd quarter valued at approximately $67,480,000. 98.92% of the stock is owned by institutional investors and hedge funds.

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.