Verition Fund Management LLC lowered its holdings in Barnes Group Inc. (NYSE:B – Get Rating) by 41.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,699 shares of the industrial products company's stock after selling 9,132 shares during the quarter. Verition Fund Management LLC's holdings in Barnes Group were worth $510,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of B. Invesco Ltd. raised its stake in shares of Barnes Group by 109.9% during the 1st quarter. Invesco Ltd. now owns 310,724 shares of the industrial products company's stock worth $12,488,000 after acquiring an additional 162,693 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of Barnes Group during the 1st quarter worth approximately $4,296,000. Cooper Creek Partners Management LLC bought a new position in shares of Barnes Group during the 1st quarter worth approximately $4,201,000. Tributary Capital Management LLC raised its stake in shares of Barnes Group by 27.6% during the 1st quarter. Tributary Capital Management LLC now owns 429,323 shares of the industrial products company's stock worth $17,254,000 after acquiring an additional 92,778 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Barnes Group by 5.0% during the 1st quarter. State Street Corp now owns 1,771,179 shares of the industrial products company's stock worth $71,184,000 after acquiring an additional 83,652 shares in the last quarter. Institutional investors own 84.38% of the company's stock.
Get Barnes Group alerts:Analysts Set New Price Targets
Several research firms recently commented on B. DA Davidson reduced their price objective on shares of Barnes Group to $36.00 in a research note on Tuesday, August 9th. StockNews.com upgraded shares of Barnes Group from a "hold" rating to a "buy" rating in a research note on Friday, August 26th. Finally, Truist Financial dropped their target price on shares of Barnes Group from $38.00 to $33.00 and set a "hold" rating on the stock in a research report on Tuesday, July 19th.
Barnes Group Stock Down 3.8 %
NYSE:B opened at $28.39 on Friday. The company has a market cap of $1.43 billion, a PE ratio of 39.43, a P/E/G ratio of 1.54 and a beta of 1.18. Barnes Group Inc. has a twelve month low of $28.12 and a twelve month high of $48.79. The company has a current ratio of 2.42, a quick ratio of 1.51 and a debt-to-equity ratio of 0.44. The company's 50 day moving average is $32.65 and its two-hundred day moving average is $34.59.Barnes Group (NYSE:B – Get Rating) last released its quarterly earnings data on Friday, July 29th. The industrial products company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.48 by $0.08. The business had revenue of $321.00 million for the quarter, compared to the consensus estimate of $329.09 million. Barnes Group had a net margin of 2.91% and a return on equity of 7.57%. The business's revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 EPS. Analysts anticipate that Barnes Group Inc. will post 1.96 EPS for the current year.
Barnes Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Thursday, August 25th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Wednesday, August 24th. Barnes Group's dividend payout ratio (DPR) is currently 88.89%.
About Barnes Group
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Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. It operates in two segments: Industrial and Aerospace. The Industrial segment offers precision components, products, and systems used by various customers in end-markets, such as mobility, industrial equipment, automation, personal care, packaging, electronics, and medical devices.
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