John Bean Technologies (NYSE:JBT) Hits New 12-Month High – Time to Buy?

John Bean Technologies Co. (NYSE:JBT)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $113.09 and last traded at $111.81, with a volume of 21857 shares trading hands. The stock had previously closed at $112.15.

John Bean Technologies Stock Performance

The firm has a 50 day moving average price of $93.19 and a 200 day moving average price of $93.77. The stock has a market cap of $3.59 billion, a PE ratio of 5.98, a price-to-earnings-growth ratio of 1.35 and a beta of 1.25. The company has a quick ratio of 1.96, a current ratio of 2.54 and a debt-to-equity ratio of 0.43.

John Bean Technologies (NYSE:JBT) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.41 by $0.09. John Bean Technologies had a net margin of 36.66% and a return on equity of 9.67%. The business had revenue of $453.80 million during the quarter, compared to analyst estimates of $442.20 million. During the same quarter in the previous year, the business posted $1.11 EPS. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, research analysts forecast that John Bean Technologies Co. will post 5.18 earnings per share for the current year.

John Bean Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were issued a $0.10 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.35%. John Bean Technologies’s dividend payout ratio is presently 2.13%.

Institutional Trading of John Bean Technologies

Several hedge funds have recently modified their holdings of the company. Diversified Trust Co raised its stake in shares of John Bean Technologies by 36.6% during the 1st quarter. Diversified Trust Co now owns 13,216 shares of the industrial products company’s stock worth $1,386,000 after acquiring an additional 3,541 shares in the last quarter. Pullen Investment Management LLC acquired a new position in shares of John Bean Technologies during the first quarter worth $437,000. Texas Permanent School Fund Corp lifted its holdings in shares of John Bean Technologies by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 27,865 shares of the industrial products company’s stock valued at $2,923,000 after purchasing an additional 360 shares during the last quarter. Duality Advisers LP boosted its position in shares of John Bean Technologies by 20.6% in the 1st quarter. Duality Advisers LP now owns 4,655 shares of the industrial products company’s stock worth $488,000 after purchasing an additional 796 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in John Bean Technologies during the 1st quarter valued at about $238,000. 98.92% of the stock is owned by hedge funds and other institutional investors.

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.