Confluence Investment Management LLC Purchases New Stake in John Bean Technologies Co. (NYSE:JBT)

Confluence Investment Management LLC purchased a new stake in John Bean Technologies Co. (NYSE:JBT) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 32,281 shares of the industrial products company’s stock, valued at approximately $3,386,000. Confluence Investment Management LLC owned 0.10% of John Bean Technologies at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Quadrature Capital Ltd grew its position in John Bean Technologies by 330.2% in the 4th quarter. Quadrature Capital Ltd now owns 27,145 shares of the industrial products company’s stock valued at $2,705,000 after purchasing an additional 20,835 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in John Bean Technologies in the 4th quarter valued at $3,481,000. P2 Capital Partners LLC grew its position in John Bean Technologies by 39.0% in the 4th quarter. P2 Capital Partners LLC now owns 556,442 shares of the industrial products company’s stock valued at $55,338,000 after purchasing an additional 156,241 shares during the period. Thematics Asset Management grew its position in John Bean Technologies by 4.5% in the 4th quarter. Thematics Asset Management now owns 145,124 shares of the industrial products company’s stock valued at $14,433,000 after purchasing an additional 6,208 shares during the period. Finally, Homestead Advisers Corp grew its position in John Bean Technologies by 18.5% in the 4th quarter. Homestead Advisers Corp now owns 26,300 shares of the industrial products company’s stock valued at $2,616,000 after purchasing an additional 4,100 shares during the period. Institutional investors and hedge funds own 98.92% of the company’s stock.

Analyst Ratings Changes

Separately, William Blair reissued a “market perform” rating on shares of John Bean Technologies in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $121.00.

John Bean Technologies Price Performance

JBT opened at $100.53 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.37 and a quick ratio of 1.83. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 5.36, a P/E/G ratio of 1.54 and a beta of 1.31. The firm’s fifty day moving average price is $93.30 and its two-hundred day moving average price is $97.92. John Bean Technologies Co. has a 1 year low of $88.03 and a 1 year high of $125.88.

John Bean Technologies (NYSE:JBT) last posted its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The firm had revenue of $392.30 million for the quarter, compared to the consensus estimate of $396.55 million. John Bean Technologies had a net margin of 36.12% and a return on equity of 10.56%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.94 EPS. As a group, analysts anticipate that John Bean Technologies Co. will post 5.15 earnings per share for the current fiscal year.

John Bean Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Wednesday, May 22nd. John Bean Technologies’s payout ratio is 2.13%.

John Bean Technologies Company Profile

John Bean Technologies 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.