Capital Fund Management S.A. bought a new position in John Bean Technologies Corp. (NYSE:JBT) during the second quarter, Holdings Channel reports. The fund bought 3,400 shares of the company’s stock, valued at approximately $208,000.
Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in John Bean Technologies Corp. by 135.1% in the first quarter. BlackRock Inc. now owns 1,897 shares of the company’s stock worth $107,000 after buying an additional 1,090 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in John Bean Technologies Corp. during the first quarter worth approximately $276,000. Dearborn Partners LLC boosted its stake in John Bean Technologies Corp. by 7.7% in the second quarter. Dearborn Partners LLC now owns 5,275 shares of the company’s stock worth $323,000 after buying an additional 375 shares during the last quarter. Menta Capital LLC acquired a new stake in John Bean Technologies Corp. during the first quarter worth approximately $327,000. Finally, Parametrica Management Ltd acquired a new stake in John Bean Technologies Corp. during the second quarter worth approximately $414,000. Institutional investors own 99.02% of the company’s stock.
Shares of John Bean Technologies Corp. (NYSE:JBT) traded up 0.92% during midday trading on Friday, reaching $72.42. The company had a trading volume of 104,558 shares. John Bean Technologies Corp. has a 1-year low of $38.67 and a 1-year high of $74.22. The stock has a market capitalization of $2.11 billion, a PE ratio of 37.66 and a beta of 1.35. The company’s 50-day moving average is $69.38 and its 200-day moving average is $63.21.
John Bean Technologies Corp. (NYSE:JBT) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.11. The company had revenue of $328.80 million for 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%. The firm’s revenue for the quarter was up 29.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 earnings per share. On average, equities research analysts forecast that John Bean Technologies Corp. will post $2.33 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.55%. This is a boost from John Bean Technologies Corp.’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Wednesday, August 31st. John Bean Technologies Corp.’s dividend payout ratio is presently 20.83%.
Separately, Zacks Investment Research upgraded John Bean Technologies Corp. from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Friday, July 29th.
In related news, EVP Steven R. Smith sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $66.50, for a total value of $199,500.00. Following the sale, 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 legal filing with the SEC, which is available through the SEC website. 1.45% of the stock is owned by corporate insiders.
John Bean Technologies Corp. Company Profile
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.