John Bean Technologies (NYSE:JBT) Stock Price Down 3.8% – Here’s Why

John Bean Technologies Co. (NYSE:JBT) was down 3.8% during trading on Friday . The company traded as low as $113.59 and last traded at $113.59. Approximately 138,999 shares traded hands during trading, a decline of 48% from the average daily volume of 266,805 shares. The stock had previously closed at $118.02.

John Bean Technologies Stock Performance

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 fifty day moving average of $93.77 and a 200 day moving average of $93.93. The stock has a market cap of $3.62 billion, a P/E ratio of 6.30, a PEG ratio of 1.35 and a beta of 1.25.

John Bean Technologies (NYSE:JBT) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.50 EPS for the quarter, topping 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 firm had revenue of $453.80 million for the quarter, compared to analysts’ expectations of $442.20 million. During the same period in the previous year, the business earned $1.11 earnings per share. John Bean Technologies’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, equities analysts predict that John Bean Technologies Co. will post 5.18 earnings per share for the current fiscal year.

John Bean Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders 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 annualized dividend and a dividend yield of 0.35%. John Bean Technologies’s dividend payout ratio is currently 2.13%.

Hedge Funds Weigh In On John Bean Technologies

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

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.