Granite Investment Partners LLC Buys Shares of 31,611 JBT Marel Corporation $JBTM

Granite Investment Partners LLC purchased a new position in shares of JBT Marel Corporation (NYSE:JBTM) in the second quarter, according to its most recent filing with the SEC. The firm purchased 31,611 shares of the company’s stock, valued at approximately $3,802,000. Granite Investment Partners LLC owned 0.06% of JBT Marel at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Truist Financial Corp bought a new stake in shares of JBT Marel during the second quarter worth about $2,292,000. Vontobel Holding Ltd. bought a new position in shares of JBT Marel during the 2nd quarter worth $389,000. Envestnet Asset Management Inc. bought a new position in JBT Marel in the 2nd quarter worth approximately $29,873,000. Yousif Capital Management LLC purchased a new position in JBT Marel during the 2nd quarter valued at about $2,104,000. Finally, Zions Bancorporation National Association UT purchased a new position in shares of JBT Marel during the 2nd quarter valued at $2,410,000. 98.92% of the stock is owned by institutional investors.

JBT Marel Stock Performance

JBTM opened at $140.14 on Wednesday. The company’s 50 day moving average is $136.80 and its 200 day moving average is $132.68. JBT Marel Corporation has a 12-month low of $90.08 and a 12-month high of $148.76. The company has a current ratio of 0.93, a quick ratio of 0.53 and a debt-to-equity ratio of 0.35. The company has a market cap of $7.28 billion, a price-to-earnings ratio of -61.20, a PEG ratio of 1.72 and a beta of 1.18.

JBT Marel (NYSE:JBTM) last posted its quarterly earnings data on Monday, November 3rd. The company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.51 by $0.43. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $936.75 million. JBT Marel had a positive return on equity of 7.96% and a negative net margin of 5.08%.The company’s revenue for the quarter was up 120.6% compared to the same quarter last year. JBT Marel has set its FY 2025 guidance at 6.100-6.400 EPS. On average, equities research analysts predict that JBT Marel Corporation will post 5.21 EPS for the current year.

Insider Buying and Selling at JBT Marel

In related news, Director Olafur S. Gudmundsson sold 20,000 shares of the firm’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $141.79, for a total transaction of $2,835,800.00. Following the completion of the transaction, the director directly owned 19,980 shares of the company’s stock, valued at approximately $2,832,964.20. This trade represents a 50.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of JBT Marel in a research report on Wednesday, October 8th. Robert W. Baird set a $169.00 price objective on JBT Marel in a research report on Friday, October 3rd. Finally, William Blair raised JBT Marel from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 6th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $156.00.

About JBT Marel

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.