Sasco Capital Inc. CT Sells 30,480 Shares of John Bean Technologies Co. (NYSE:JBT)

Sasco Capital Inc. CT lessened its position in shares of John Bean Technologies Co. (NYSE:JBT - Free Report) by 14.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 184,270 shares of the industrial products company's stock after selling 30,480 shares during the quarter. John Bean Technologies makes up about 2.7% of Sasco Capital Inc. CT's investment portfolio, making the stock its 21st largest position. Sasco Capital Inc. CT owned 0.58% of John Bean Technologies worth $18,152,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in John Bean Technologies by 57.5% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,279,425 shares of the industrial products company's stock valued at $121,507,000 after purchasing an additional 466,846 shares in the last quarter. Bamco Inc. NY boosted its stake in John Bean Technologies by 23.8% in the 1st quarter. Bamco Inc. NY now owns 650,000 shares of the industrial products company's stock valued at $68,178,000 after buying an additional 125,000 shares in the last quarter. Envestnet Asset Management Inc. grew its position in John Bean Technologies by 91.0% in 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 acquiring an additional 89,604 shares during the period. Natixis Advisors LLC raised its stake in John Bean Technologies by 69.4% during the second quarter. Natixis Advisors LLC now owns 209,662 shares of the industrial products company's stock worth $19,912,000 after acquiring an additional 85,910 shares in the last quarter. Finally, Confluence Investment Management LLC lifted its holdings in shares of John Bean Technologies by 248.1% during the second quarter. Confluence Investment Management LLC now owns 112,358 shares of the industrial products company's stock valued at $10,671,000 after acquiring an additional 80,077 shares during the period. 98.92% of the stock is currently owned by institutional investors.

John Bean Technologies Price Performance

Shares of John Bean Technologies stock traded up $0.46 during mid-day trading on Tuesday, reaching $118.24. 336,973 shares of the stock were exchanged, compared to its average volume of 278,067. The company has a market cap of $3.76 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 1.62 and a beta of 1.22. John Bean Technologies Co. has a fifty-two week low of $82.64 and a fifty-two week high of $122.90. The company has a current ratio of 2.55, a quick ratio of 2.00 and a debt-to-equity ratio of 0.41. The firm has a 50-day simple moving average of $103.77 and a 200 day simple moving average of $97.14.

John Bean Technologies (NYSE:JBT - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.09. The company had revenue of $453.80 million during the quarter, compared to analysts' expectations of $442.20 million. John Bean Technologies had a net margin of 10.25% and a return on equity of 10.16%. John Bean Technologies's quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 earnings per share. On average, sell-side analysts predict that John Bean Technologies Co. will post 5.23 EPS for the current fiscal year.

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.