Tributary Capital Management LLC Sells 314,745 Shares of Barnes Group Inc. (NYSE:B)

Tributary Capital Management LLC lessened its stake in shares of Barnes Group Inc. (NYSE:B) by 84.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 59,329 shares of the industrial products company’s stock after selling 314,745 shares during the quarter. Tributary Capital Management LLC owned about 0.12% of Barnes Group worth $2,204,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Quadrature Capital Ltd bought a new stake in Barnes Group during the 4th quarter valued at approximately $322,000. Vanguard Group Inc. boosted its position in shares of Barnes Group by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 5,483,184 shares of the industrial products company’s stock valued at $178,916,000 after acquiring an additional 20,267 shares during the period. Invenomic Capital Management LP bought a new position in Barnes Group during the fourth quarter worth $7,759,000. Irenic Capital Management LP acquired a new position in shares of Barnes Group during the fourth quarter valued at about $47,219,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Barnes Group in the fourth quarter valued at about $1,674,000. Institutional investors own 90.82% of the company’s stock.

Barnes Group Stock Performance

Shares of B opened at $39.89 on Tuesday. The company has a market cap of $2.02 billion, a PE ratio of 443.44, a price-to-earnings-growth ratio of 2.40 and a beta of 1.41. The firm has a 50-day moving average of $38.65 and a 200-day moving average of $35.80. Barnes Group Inc. has a one year low of $18.79 and a one year high of $43.65. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.41 and a quick ratio of 1.53.

Barnes Group (NYSE:B) last released its quarterly earnings data on Friday, April 26th. The industrial products company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.35 by $0.03. The firm had revenue of $430.64 million for the quarter, compared to the consensus estimate of $425.32 million. Barnes Group had a net margin of 0.31% and a return on equity of 5.92%. As a group, equities analysts forecast that Barnes Group Inc. will post 1.73 earnings per share for the current year.

Barnes Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Wednesday, May 29th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.60%. Barnes Group’s payout ratio is presently 711.11%.

Analyst Upgrades and Downgrades

B has been the topic of a number of analyst reports. Oppenheimer upped their target price on shares of Barnes Group from $43.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. DA Davidson upped their target price on shares of Barnes Group from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th.

Barnes Group Profile

Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. The company operates through 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.