Envestnet Asset Management Inc. Purchases 89,604 Shares of John Bean Technologies Co. (NYSE:JBT)

Envestnet Asset Management Inc. grew its position in John Bean Technologies Co. (NYSE:JBT) by 91.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 188,122 shares of the industrial products company’s stock after acquiring an additional 89,604 shares during the quarter. Envestnet Asset Management Inc. owned 0.59% of John Bean Technologies worth $17,866,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Zions Bancorporation N.A. lifted its position in shares of John Bean Technologies by 23.2% in the 2nd quarter. Zions Bancorporation N.A. now owns 13,123 shares of the industrial products company’s stock worth $1,246,000 after acquiring an additional 2,471 shares during the period. Texas Permanent School Fund Corp lifted its position in shares of John Bean Technologies by 4.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 29,143 shares of the industrial products company’s stock worth $2,768,000 after buying an additional 1,278 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of John Bean Technologies during the 2nd quarter worth approximately $654,000. Savant Capital LLC bought a new position in shares of John Bean Technologies during the 2nd quarter worth approximately $417,000. Finally, Arizona State Retirement System lifted its position in shares of John Bean Technologies by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 8,900 shares of the industrial products company’s stock worth $845,000 after buying an additional 150 shares during the period. Institutional investors own 98.92% of the company’s stock.

John Bean Technologies Price Performance

John Bean Technologies stock opened at $91.95 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.54 and a quick ratio of 1.96. The company has a market capitalization of $2.93 billion, a PE ratio of 4.91, a price-to-earnings-growth ratio of 1.20 and a beta of 1.24. John Bean Technologies Co. has a one year low of $82.64 and a one year high of $109.91. The business has a 50 day simple moving average of $91.97 and a 200 day simple moving average of $94.22.

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 return on equity of 9.67% and a net margin of 36.66%. John Bean Technologies’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.97 EPS. On average, sell-side analysts forecast that John Bean Technologies Co. will post 5.18 EPS for the current fiscal year.

John Bean Technologies Dividend Announcement

The firm 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 was Monday, August 19th. This represents a $0.40 dividend on an annualized basis and a yield of 0.44%. John Bean Technologies’s dividend payout ratio 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.