Conestoga Capital Advisors LLC Trims Stock Position in John Bean Technologies Co. (NYSE:JBT)

Conestoga Capital Advisors LLC lowered its position in shares of John Bean Technologies Co. (NYSE:JBT - Free Report) by 9.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 857,345 shares of the industrial products company's stock after selling 94,189 shares during the quarter. Conestoga Capital Advisors LLC owned 2.69% of John Bean Technologies worth $84,457,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC boosted its position in John Bean Technologies by 57.5% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,279,425 shares of the industrial products company's stock worth $121,507,000 after purchasing an additional 466,846 shares during the last quarter. Bamco Inc. NY raised its position in 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 worth $68,178,000 after acquiring an additional 125,000 shares during the period. Champlain Investment Partners LLC boosted its stake 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 valued at $162,072,000 after acquiring an additional 112,035 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of John Bean Technologies by 91.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 188,122 shares of the industrial products company's stock worth $17,866,000 after purchasing an additional 89,604 shares during the last quarter. Finally, Natixis Advisors LLC lifted its stake in John Bean Technologies by 69.4% in the second quarter. Natixis Advisors LLC now owns 209,662 shares of the industrial products company's stock valued at $19,912,000 after purchasing an additional 85,910 shares during the last quarter. Hedge funds and other institutional investors own 98.92% of the company's stock.

John Bean Technologies Stock Performance

Shares of JBT traded up $3.52 during mid-day trading on Friday, hitting $114.94. The stock had a trading volume of 400,181 shares, compared to its average volume of 270,693. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.55 and a quick ratio of 2.00. The firm has a market cap of $3.66 billion, a P/E ratio of 21.10, a PEG ratio of 1.61 and a beta of 1.25. John Bean Technologies Co. has a 52 week low of $82.64 and a 52 week high of $118.55. The business has a fifty day moving average price of $96.33 and a 200-day moving average price of $94.63.

John Bean Technologies (NYSE:JBT - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $453.80 million for the quarter, compared to the consensus estimate of $442.20 million. John Bean Technologies had a net margin of 10.25% and a return on equity of 10.16%. The company's revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.11 earnings per share. On average, equities research analysts expect that John Bean Technologies Co. will post 5.21 EPS for the current year.

John Bean Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders 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 dividend on an annualized basis and a yield of 0.35%. John Bean Technologies's payout ratio is 7.42%.

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.