Trading Report: The Emerald Acquisition Ltd. Acquires New Position in John Bean Technologies Corp. (JBT)

The Emerald Acquisition Ltd. Acquires New Position in John Bean Technologies Corp. (JBT)

Emerald Acquisition Ltd. bought a new position in shares of John Bean Technologies Corp. (NYSE:JBT) during the second quarter, Holdings Channel reports. The firm bought 14,473 shares of the company’s stock, valued at approximately $886,000.

A number of other institutional investors also recently made changes to their positions in the stock. BlackRock Institutional Trust Company N.A. raised its position in shares of John Bean Technologies Corp. by 12.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 913,239 shares of the company’s stock worth $51,516,000 after buying an additional 100,925 shares in the last quarter. State Street Corp raised its position in shares of John Bean Technologies Corp. by 2.9% in the first quarter. State Street Corp now owns 586,050 shares of the company’s stock worth $33,057,000 after buying an additional 16,281 shares in the last quarter. Channing Capital Management LLC bought a new position in shares of John Bean Technologies Corp. during the second quarter worth about $32,658,000. Bank of New York Mellon Corp raised its position in shares of John Bean Technologies Corp. by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 530,097 shares of the company’s stock worth $32,454,000 after buying an additional 14,006 shares in the last quarter. Finally, Columbus Circle Investors raised its position in shares of John Bean Technologies Corp. by 252.1% in the second quarter. Columbus Circle Investors now owns 394,884 shares of the company’s stock worth $24,175,000 after buying an additional 282,738 shares in the last quarter. Hedge funds and other institutional investors own 99.02% of the company’s stock.

Shares of John Bean Technologies Corp. (NYSE:JBT) traded up 1.58% during midday trading on Wednesday, reaching $73.11. 13,546 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $69.15 and a 200-day moving average of $62.95. John Bean Technologies Corp. has a 1-year low of $38.42 and a 1-year high of $74.22. The company has a market capitalization of $2.13 billion, a PE ratio of 38.02 and a beta of 1.35.

John Bean Technologies Corp. (NYSE:JBT) last issued its earnings results on Tuesday, July 26th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.56 by $0.11. The firm earned $328.80 million during the quarter, compared to analysts’ expectations of $304.19 million. John Bean Technologies Corp. had a return on equity of 47.47% and a net margin of 4.70%. John Bean Technologies Corp.’s quarterly revenue was up 29.1% compared to the same quarter last year. During the same period last year, the business earned $0.48 earnings per share. Equities analysts expect that John Bean Technologies Corp. will post $2.33 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were issued a dividend of $0.10 per share. The ex-dividend date was Wednesday, August 31st. This is a boost from John Bean Technologies Corp.’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.56%. John Bean Technologies Corp.’s dividend payout ratio (DPR) is presently 20.83%.

JBT has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of John Bean Technologies Corp. from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Friday, July 29th. BB&T Corp. initiated coverage on shares of John Bean Technologies Corp. in a research report on Friday, June 17th. They issued a “buy” rating and a $75.00 target price for the company.

In other John Bean Technologies Corp. news, EVP Steven R. Smith sold 3,000 shares of John Bean Technologies Corp. stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $66.50, for a total transaction of $199,500.00. Following the completion of the transaction, the executive vice president now directly owns 64,448 shares of the company’s stock, valued at $4,285,792. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.45% of the company’s stock.

About John Bean Technologies Corp.

John Bean Technologies Corporation (JBT) is a technology solutions provider to the segments of the food processing and air transportation industries. The Company designs, manufactures, tests and services technological systems and products. It operates through two segments. The JBT FoodTech segment designs, manufactures services and food processing systems used for fruit juice production, frozen food production, in-container food production and convenience food preparation, among others by the food industry.

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