Barnes Group Inc. (NYSE:B) Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its position in Barnes Group Inc. (NYSE:B) by 49.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,473 shares of the industrial products company’s stock after purchasing an additional 31,982 shares during the period. State of New Jersey Common Pension Fund D owned about 0.19% of Barnes Group worth $3,148,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new position in Barnes Group in the fourth quarter valued at about $58,000. CWM LLC increased its holdings in Barnes Group by 470.7% in the fourth quarter. CWM LLC now owns 2,100 shares of the industrial products company’s stock valued at $69,000 after buying an additional 1,732 shares in the last quarter. Flynn Zito Capital Management LLC purchased a new position in Barnes Group in the fourth quarter valued at about $253,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Barnes Group by 20.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,633 shares of the industrial products company’s stock valued at $412,000 after buying an additional 2,169 shares in the last quarter. Finally, Everence Capital Management Inc. increased its holdings in Barnes Group by 66.8% in the fourth quarter. Everence Capital Management Inc. now owns 10,110 shares of the industrial products company’s stock valued at $330,000 after buying an additional 4,050 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barnes Group Stock Down 4.0 %

Shares of NYSE B opened at $34.47 on Friday. Barnes Group Inc. has a 1 year low of $18.79 and a 1 year high of $43.65. The firm’s 50 day moving average price is $36.06 and its 200 day moving average price is $31.97. The firm has a market cap of $1.75 billion, a P/E ratio of 111.20, a price-to-earnings-growth ratio of 2.13 and a beta of 1.38. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.37 and a current ratio of 2.29.

Barnes Group (NYSE:B) last announced its earnings results on Friday, February 16th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. The firm had revenue of $415.50 million for the quarter, compared to analyst estimates of $420.47 million. Barnes Group had a net margin of 1.10% and a return on equity of 6.20%. Barnes Group’s revenue was up 32.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 earnings per share. As a group, sell-side analysts anticipate that Barnes Group Inc. will post 1.69 earnings per share for the current year.

Barnes Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Thursday, February 22nd were issued a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.86%. Barnes Group’s dividend payout ratio (DPR) is presently 206.46%.

Analyst Upgrades and Downgrades

B has been the subject of a number of research analyst reports. StockNews.com raised shares of Barnes Group from a “sell” rating to a “hold” rating in a report on Monday, February 19th. Oppenheimer raised their price objective on shares of Barnes Group from $36.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Truist Financial raised their price objective on shares of Barnes Group from $23.00 to $34.00 and gave the stock a “hold” rating in a research note on Wednesday, January 10th. Finally, DA Davidson upgraded shares of Barnes Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $35.00 to $45.00 in a research report on Thursday, April 18th.

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.