Short Interest in John Bean Technologies Co. (NYSE:JBT) Decreases By 7.4% – MarketBeat
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John Bean Technologies Co. (NYSE:JBT – Get Rating) was the target of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 838,000 shares, a decline of 7.4% from the August 31st total of 904,500 shares. Based on an average daily volume of 163,200 shares, the short-interest ratio is presently 5.1 days. Approximately 2.7% of the company’s stock are short sold.
John Bean Technologies Price Performance
Shares of JBT stock traded down $0.41 during trading hours on Friday, reaching $86.00. 212,425 shares of the company were exchanged, compared to its average volume of 166,257. John Bean Technologies has a fifty-two week low of $81.59 and a fifty-two week high of $177.56. The stock’s fifty day moving average is $104.90 and its two-hundred day moving average is $110.91. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 22.99, a P/E/G ratio of 1.17 and a beta of 1.40. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.33 and a quick ratio of 0.84.
John Bean Technologies (NYSE:JBT – Get Rating) last announced its earnings results on Wednesday, July 27th. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.05). John Bean Technologies had a return on equity of 16.69% and a net margin of 6.04%. The company had revenue of $542.30 million for the quarter, compared to analyst estimates of $552.27 million. During the same quarter in the previous year, the company posted $1.19 earnings per share. John Bean Technologies’s revenue for the quarter was up 14.0% on a year-over-year basis. Sell-side analysts forecast that John Bean Technologies will post 4.94 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 Tuesday, September 6th. Investors of record on Monday, August 22nd were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, August 19th. This represents a $0.40 annualized dividend and a yield of 0.47%. John Bean Technologies’s dividend payout ratio is currently 10.70%.
Insider Activity at John Bean Technologies
In other John Bean Technologies news, Director Caroline Maury Devine sold 300 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $118.96, for a total transaction of $35,688.00. Following the completion of the transaction, the director now owns 47,349 shares of the company’s stock, valued at approximately $5,632,637.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 900 shares of company stock valued at $94,935. Insiders own 1.30% of the company’s stock.
Hedge Funds Weigh In On John Bean Technologies
Several large investors have recently bought and sold shares of JBT. Wellington Management Group LLP lifted its holdings in John Bean Technologies by 64.6% in the first quarter. Wellington Management Group LLP now owns 1,844,737 shares of the industrial products company’s stock valued at $218,546,000 after buying an additional 723,720 shares during the period. Brown Advisory Inc. lifted its holdings in John Bean Technologies by 41.9% in the second quarter. Brown Advisory Inc. now owns 637,948 shares of the industrial products company’s stock valued at $70,442,000 after buying an additional 188,308 shares during the period. Royal Bank of Canada lifted its holdings in John Bean Technologies by 82.0% in the first quarter. Royal Bank of Canada now owns 372,539 shares of the industrial products company’s stock valued at $44,134,000 after buying an additional 167,866 shares during the period. abrdn plc acquired a new stake in John Bean Technologies in the second quarter worth $13,203,000. Finally, Artisan Partners Limited Partnership acquired a new stake in John Bean Technologies in the second quarter worth $10,121,000.
Wall Street Analysts Forecast Growth
Separately, Robert W. Baird decreased their price objective on shares of John Bean Technologies from $140.00 to $128.00 in a research note on Thursday, July 28th.
About John Bean Technologies
(Get Rating)
John Bean Technologies Corporation provides technology solutions to food and beverage industry and equipment and services to air transportation industries. The company operates through two segments: JBT FoodTech and JBT AeroTech. It offers poultry processing, mixing/grinding, injecting, marinating, tumbling, portioning, packaging, coating, cooking, frying, freezing, weighing, X-ray food inspection, and food safety solutions.
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