John Bean Technologies Co. (NYSE:JBT) Shares Acquired by Confluence Investment Management LLC

Confluence Investment Management LLC increased its holdings in John Bean Technologies Co. (NYSE:JBT) by 248.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 112,358 shares of the industrial products company’s stock after acquiring an additional 80,077 shares during the quarter. Confluence Investment Management LLC owned approximately 0.35% of John Bean Technologies worth $10,671,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Tidal Investments LLC raised its stake in John Bean Technologies by 20.4% during the first quarter. Tidal Investments LLC now owns 6,846 shares of the industrial products company’s stock valued at $718,000 after buying an additional 1,161 shares in the last quarter. Motley Fool Asset Management LLC raised its stake in John Bean Technologies by 39.3% during the first quarter. Motley Fool Asset Management LLC now owns 27,258 shares of the industrial products company’s stock valued at $2,859,000 after buying an additional 7,684 shares in the last quarter. Ancora Advisors LLC raised its stake in John Bean Technologies by 7.3% during the first quarter. Ancora Advisors LLC now owns 26,141 shares of the industrial products company’s stock valued at $2,742,000 after buying an additional 1,786 shares in the last quarter. Bamco Inc. NY raised its stake in John Bean Technologies by 23.8% during the first quarter. Bamco Inc. NY now owns 650,000 shares of the industrial products company’s stock valued at $68,178,000 after buying an additional 125,000 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in John Bean Technologies during the first quarter valued at approximately $61,000. Institutional investors and hedge funds own 98.92% of the company’s stock.

Analysts Set New Price Targets

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

John Bean Technologies Stock Performance

Shares of NYSE:JBT traded down $1.43 during trading on Friday, hitting $93.87. 243,367 shares of the company traded hands, compared to its average volume of 326,446. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 5.01, a PEG ratio of 1.46 and a beta of 1.27. The business’s fifty day moving average is $96.05 and its 200-day moving average is $97.09. John Bean Technologies Co. has a one year low of $88.03 and a one year high of $114.30. The company has a quick ratio of 1.83, a current ratio of 2.54 and a debt-to-equity ratio of 0.43.

John Bean Technologies (NYSE:JBT) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.19). The company had revenue of $402.30 million for the quarter, compared to the consensus estimate of $432.67 million. John Bean Technologies had a net margin of 36.66% and a return on equity of 9.67%. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period last year, the company posted $0.97 earnings per share. As a group, equities analysts predict that John Bean Technologies Co. will post 5.18 earnings per share for the current fiscal year.

John Bean Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Wednesday, May 22nd. John Bean Technologies’s dividend payout ratio (DPR) is 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.