Edgestream Partners L.P. Invests $1.90 Million in John Bean Technologies Co. (NYSE:JBT)

Edgestream Partners L.P. acquired a new position in shares of John Bean Technologies Co. (NYSE:JBT) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 18,138 shares of the industrial products company’s stock, valued at approximately $1,902,000. Edgestream Partners L.P. owned 0.06% of John Bean Technologies as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in JBT. Norges Bank bought a new stake in shares of John Bean Technologies during the fourth quarter worth approximately $35,164,000. P2 Capital Partners LLC boosted its holdings in shares of John Bean Technologies by 39.0% during the fourth quarter. P2 Capital Partners LLC now owns 556,442 shares of the industrial products company’s stock worth $55,338,000 after acquiring an additional 156,241 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of John Bean Technologies in the fourth quarter valued at approximately $12,594,000. Deroy & Devereaux Private Investment Counsel Inc. raised its position in shares of John Bean Technologies by 53.1% in the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 189,835 shares of the industrial products company’s stock valued at $19,912,000 after buying an additional 65,804 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of John Bean Technologies by 6.2% in the fourth quarter. Victory Capital Management Inc. now owns 878,152 shares of the industrial products company’s stock valued at $87,332,000 after buying an additional 51,608 shares in the last quarter. Institutional investors own 98.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, William Blair reiterated a “market perform” rating on shares of John Bean Technologies in a research report on Thursday, May 2nd.

John Bean Technologies Price Performance

Shares of NYSE JBT traded up $3.26 during midday trading on Monday, reaching $104.35. The company’s stock had a trading volume of 293,046 shares, compared to its average volume of 257,859. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.83 and a current ratio of 2.37. John Bean Technologies Co. has a fifty-two week low of $88.03 and a fifty-two week high of $123.82. The business’s 50 day moving average price is $95.31 and its two-hundred day moving average price is $96.83. The company has a market cap of $3.32 billion, a P/E ratio of 5.57, a P/E/G ratio of 1.55 and a beta of 1.27.

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

John Bean Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, May 22nd. This represents a $0.40 annualized dividend and a yield of 0.38%. John Bean Technologies’s dividend payout ratio is currently 2.13%.

About John Bean Technologies

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.