John Bean Technologies (NYSE:JBT) Sets New 52-Week High – Here’s What Happened

John Bean Technologies Co. (NYSE:JBT) hit a new 52-week high on Wednesday . The company traded as high as $121.44 and last traded at $120.00, with a volume of 2828 shares trading hands. The stock had previously closed at $115.67.

John Bean Technologies Price Performance

The company has a quick ratio of 2.00, a current ratio of 2.55 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 1.60 and a beta of 1.22. The company has a fifty day moving average price of $97.84 and a two-hundred day moving average price of $95.19.

John Bean Technologies (NYSE:JBT) last posted its quarterly earnings data 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 net margin of 10.25% and a return on equity of 10.16%. The company had revenue of $453.80 million for the quarter, compared to analyst estimates of $442.20 million. During the same period in the previous year, the business posted $1.11 earnings per share. John Bean Technologies’s quarterly revenue was up 12.4% on a year-over-year basis. On average, equities research analysts expect that John Bean Technologies Co. will post 5.21 EPS for the current fiscal year.

John Bean Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were given a $0.10 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.40 dividend on an annualized basis and a yield of 0.33%. John Bean Technologies’s dividend payout ratio (DPR) is 7.42%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in JBT. SG Americas Securities LLC increased its position in John Bean Technologies by 192.5% during the 2nd quarter. SG Americas Securities LLC now owns 8,911 shares of the industrial products company’s stock worth $846,000 after purchasing an additional 5,865 shares during the period. UniSuper Management Pty Ltd purchased a new position in John Bean Technologies in the first quarter worth $685,000. Homestead Advisers Corp lifted its holdings in John Bean Technologies by 31.6% in the first quarter. Homestead Advisers Corp now owns 34,600 shares of the industrial products company’s stock valued at $3,629,000 after acquiring an additional 8,300 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of John Bean Technologies during the 1st quarter worth $1,902,000. Finally, D. E. Shaw & Co. Inc. grew its stake in shares of John Bean Technologies by 37.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 236,865 shares of the industrial products company’s stock worth $22,495,000 after purchasing an additional 64,280 shares during the period. 98.92% of the stock is currently owned by institutional investors and hedge funds.

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.