Kayne Anderson Rudnick Investment Management LLC Acquires 466,846 Shares of John Bean Technologies Co. (NYSE:JBT)

Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of John Bean Technologies Co. (NYSE:JBT) by 57.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,279,425 shares of the industrial products company’s stock after buying an additional 466,846 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 4.02% of John Bean Technologies worth $121,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of JBT. Norges Bank purchased a new stake in shares of John Bean Technologies in the fourth quarter worth about $35,164,000. P2 Capital Partners LLC boosted its position in shares of John Bean Technologies by 39.0% during the 4th quarter. P2 Capital Partners LLC now owns 556,442 shares of the industrial products company’s stock valued at $55,338,000 after acquiring an additional 156,241 shares during the last quarter. Bamco Inc. NY grew its holdings in shares of John Bean Technologies by 23.8% in the first quarter. Bamco Inc. NY now owns 650,000 shares of the industrial products company’s stock valued at $68,178,000 after purchasing an additional 125,000 shares in the last quarter. Champlain Investment Partners LLC increased its position in John Bean Technologies by 7.8% in the first quarter. Champlain Investment Partners LLC now owns 1,545,159 shares of the industrial products company’s stock worth $162,072,000 after purchasing an additional 112,035 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in John Bean Technologies by 91.0% during the second quarter. Envestnet Asset Management Inc. now owns 188,122 shares of the industrial products company’s stock valued at $17,866,000 after purchasing an additional 89,604 shares in the last quarter. Institutional investors own 98.92% of the company’s stock.

John Bean Technologies Price Performance

JBT stock opened at $91.15 on Friday. John Bean Technologies Co. has a 52 week low of $82.64 and a 52 week high of $109.91. The firm has a market capitalization of $2.90 billion, a P/E ratio of 4.86, a price-to-earnings-growth ratio of 1.20 and a beta of 1.24. The company has a fifty day simple moving average of $92.05 and a two-hundred day simple moving average of $94.36. 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 announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.19). John Bean Technologies had a net margin of 36.66% and a return on equity of 9.67%. The business had revenue of $402.30 million during the quarter, compared to the consensus estimate of $432.67 million. During the same period in the previous year, the business posted $0.97 EPS. The firm’s revenue was down 5.9% on a year-over-year basis. Analysts anticipate that John Bean Technologies Co. will post 5.18 earnings per share for the current fiscal year.

John Bean Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.40 annualized dividend and a yield of 0.44%. John Bean Technologies’s payout ratio is presently 2.13%.

John Bean Technologies 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.