Kovack Advisors Inc. Invests $652,000 in JBT Marel Corporation $JBTM

Kovack Advisors Inc. bought a new stake in JBT Marel Corporation (NYSE:JBTM) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,640 shares of the company’s stock, valued at approximately $652,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of JBTM. CWM LLC acquired a new stake in JBT Marel in the 2nd quarter valued at about $244,000. Mutual of America Capital Management LLC purchased a new stake in shares of JBT Marel during the second quarter worth approximately $715,000. Whittier Trust Co. purchased a new stake in shares of JBT Marel during the second quarter worth approximately $120,000. Asset Management One Co. Ltd. acquired a new stake in JBT Marel in the second quarter valued at approximately $127,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new position in JBT Marel in the second quarter worth approximately $330,000. 98.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

JBTM has been the subject of several analyst reports. Jefferies Financial Group upgraded shares of JBT Marel from a “hold” rating to a “buy” rating and boosted their price target 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 report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.50.

Insider Activity

In related news, Director Olafur S. Gudmundsson sold 10,000 shares of the company’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $150.09, for a total value of $1,500,900.00. Following the completion of the sale, the director directly owned 9,980 shares of the company’s stock, valued at $1,497,898.20. This represents a 50.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is currently owned by company insiders.

JBT Marel Stock Performance

Shares of JBT Marel stock opened at $164.89 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.93 and a debt-to-equity ratio of 0.34. JBT Marel Corporation has a 52 week low of $90.08 and a 52 week high of $170.19. The firm’s 50 day moving average is $158.00 and its two-hundred day moving average is $145.48. The firm has a market capitalization of $8.57 billion, a P/E ratio of -73.61, a P/E/G ratio of 1.61 and a beta of 1.01.

JBT Marel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Monday, December 15th were given a $0.10 dividend. The ex-dividend date of this dividend 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 -17.86%.

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.