Conestoga Capital Advisors LLC Invests $20.75 Million in JBT Marel Corporation $JBTM

Conestoga Capital Advisors LLC purchased a new position in shares of JBT Marel Corporation (NYSE:JBTM) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 172,509 shares of the company’s stock, valued at approximately $20,746,000.

A number of other large investors have also made changes to their positions in the business. Vaughan Nelson Investment Management L.P. acquired a new position in shares of JBT Marel during the second quarter worth $83,397,000. Congress Asset Management Co. acquired a new position in shares of JBT Marel during the second quarter worth $53,515,000. Deroy & Devereaux Private Investment Counsel Inc. acquired a new position in shares of JBT Marel during the second quarter worth $39,765,000. William Blair Investment Management LLC acquired a new position in shares of JBT Marel during the second quarter worth $34,646,000. Finally, PineStone Asset Management Inc. acquired a new position in shares of JBT Marel during the second quarter worth $10,490,000. 98.92% of the stock is owned by institutional investors and hedge funds.

JBT Marel Price Performance

Shares of JBTM opened at $131.61 on Monday. The firm has a market capitalization of $6.84 billion, a PE ratio of -57.47, a price-to-earnings-growth ratio of 1.80 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.93 and a quick ratio of 0.53. JBT Marel Corporation has a 1-year low of $90.08 and a 1-year high of $148.76. The company’s fifty day moving average price is $140.03 and its 200-day moving average price is $125.38.

JBT Marel (NYSE:JBTM) last posted its quarterly earnings results on Tuesday, February 22nd. The company reported $1.02 EPS for the quarter. JBT Marel had a negative net margin of 5.08% and a positive return on equity of 7.96%. The company had revenue of $439.40 million for the quarter. On average, equities research analysts predict that JBT Marel Corporation will post 5.21 EPS for the current year.

JBT Marel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, August 18th. JBT Marel’s dividend payout ratio is presently -17.47%.

Analyst Upgrades and Downgrades

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

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.