Sanctuary Advisors LLC Takes $258,000 Position in John Bean Technologies Co. (NYSE:JBT)

Sanctuary Advisors LLC purchased a new position in John Bean Technologies Co. (NYSE:JBT) during the 3rd quarter, Holdings Channel reports. The fund purchased 2,621 shares of the industrial products company’s stock, valued at approximately $258,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in John Bean Technologies by 170.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 842,184 shares of the industrial products company’s stock worth $82,964,000 after acquiring an additional 531,298 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of John Bean Technologies by 57.5% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,279,425 shares of the industrial products company’s stock valued at $121,507,000 after purchasing an additional 466,846 shares during the period. ArrowMark Colorado Holdings LLC bought a new position in shares of John Bean Technologies during the 3rd quarter worth $29,385,000. NFJ Investment Group LLC purchased a new position in John Bean Technologies during the 3rd quarter valued at about $12,151,000. Finally, Envestnet Asset Management Inc. increased its holdings in John Bean Technologies by 91.0% during the second quarter. Envestnet Asset Management Inc. now owns 188,122 shares of the industrial products company’s stock valued at $17,866,000 after buying an additional 89,604 shares during the period. Institutional investors own 98.92% of the company’s stock.

John Bean Technologies Stock Performance

Shares of JBT stock opened at $128.38 on Friday. The company has a current ratio of 2.55, a quick ratio of 2.00 and a debt-to-equity ratio of 0.41. The company has a market cap of $4.09 billion, a PE ratio of 23.82, a PEG ratio of 1.71 and a beta of 1.24. John Bean Technologies Co. has a 12-month low of $82.64 and a 12-month high of $132.69. The business’s fifty day simple moving average is $120.20 and its 200-day simple moving average is $103.09.

John Bean Technologies (NYSE:JBT) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09. John Bean Technologies had a return on equity of 10.16% and a net margin of 10.25%. The company had revenue of $453.80 million during the quarter, compared to analysts’ expectations of $442.20 million. During the same period last year, the business posted $1.11 earnings per share. The firm’s revenue was up 12.4% compared to the same quarter last year. Analysts expect that John Bean Technologies Co. will post 5.21 earnings per share for the current fiscal year.

John Bean Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.31%. The ex-dividend date was Friday, December 13th. John Bean Technologies’s dividend payout ratio is presently 7.42%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. CJS Securities started coverage on John Bean Technologies in a research report on Thursday, December 12th. They set an “outperform” rating and a $150.00 target price on the stock. Jefferies Financial Group started coverage on John Bean Technologies in a research report on Thursday, December 12th. They set a “hold” rating and a $130.00 price objective on the stock.

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.