Select Equity Group L.P. Reduces Stock Position in Barnes Group Inc. (NYSE:B)

Select Equity Group L.P. trimmed its stake in shares of Barnes Group Inc. (NYSE:B) by 54.4% in the 2nd quarter, Holdings Channel reports. The firm owned 284,093 shares of the industrial products company’s stock after selling 339,274 shares during the period. Select Equity Group L.P.’s holdings in Barnes Group were worth $11,764,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its position in Barnes Group by 418.3% during the fourth quarter. Parallel Advisors LLC now owns 1,218 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 983 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of Barnes Group during the 1st quarter valued at approximately $107,000. TFO Wealth Partners LLC increased its holdings in Barnes Group by 57,362.5% in the 4th quarter. TFO Wealth Partners LLC now owns 4,597 shares of the industrial products company’s stock worth $150,000 after acquiring an additional 4,589 shares in the last quarter. SG Americas Securities LLC bought a new stake in Barnes Group during the 1st quarter worth approximately $208,000. Finally, QRG Capital Management Inc. purchased a new position in Barnes Group during the first quarter valued at approximately $217,000. Institutional investors own 90.82% of the company’s stock.

Barnes Group Stock Up 0.5 %

Shares of NYSE B opened at $39.49 on Friday. The company has a current ratio of 2.24, a quick ratio of 1.33 and a debt-to-equity ratio of 0.90. Barnes Group Inc. has a 12-month low of $18.79 and a 12-month high of $45.24. The firm’s 50-day moving average price is $38.83 and its 200-day moving average price is $38.44. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 438.78, a P/E/G ratio of 2.43 and a beta of 1.39.

Barnes Group (NYSE:B) last issued its quarterly earnings data on Friday, July 26th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The company had revenue of $382.23 million for the quarter, compared to analysts’ expectations of $398.80 million. Barnes Group had a negative net margin of 3.74% and a positive return on equity of 5.21%. On average, equities research analysts anticipate that Barnes Group Inc. will post 1.62 EPS for the current fiscal year.

Barnes Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 22nd were paid a $0.16 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $0.64 dividend on an annualized basis and a yield of 1.62%. Barnes Group’s payout ratio is 711.11%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on B. Truist Financial raised their price objective on shares of Barnes Group from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Monday, July 29th. DA Davidson raised their price target on Barnes Group from $48.00 to $52.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Oppenheimer upped their price objective on Barnes Group from $43.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th.

Barnes Group Company 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.