EntryPoint Capital LLC Buys New Stake in Barnes Group Inc. (NYSE:B)

EntryPoint Capital LLC bought a new stake in Barnes Group Inc. (NYSE:B) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,869 shares of the industrial products company’s stock, valued at approximately $107,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in B. State of Alaska Department of Revenue raised its position in Barnes Group by 316.2% in the fourth quarter. State of Alaska Department of Revenue now owns 131,176 shares of the industrial products company’s stock valued at $4,280,000 after purchasing an additional 99,655 shares during the period. Patriot Financial Group Insurance Agency LLC increased its position in shares of Barnes Group by 1.4% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 494,517 shares of the industrial products company’s stock worth $16,136,000 after acquiring an additional 7,048 shares during the period. Trust Point Inc. purchased a new stake in shares of Barnes Group during the fourth quarter worth $414,000. New York State Teachers Retirement System increased its position in shares of Barnes Group by 2.3% during the fourth quarter. New York State Teachers Retirement System now owns 80,466 shares of the industrial products company’s stock worth $2,626,000 after acquiring an additional 1,839 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Barnes Group during the fourth quarter worth $829,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on B. Oppenheimer upped their price objective on Barnes Group from $43.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. DA Davidson increased their target price on Barnes Group from $45.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, June 13th.

Barnes Group Price Performance

Shares of B opened at $41.10 on Friday. Barnes Group Inc. has a fifty-two week low of $18.79 and a fifty-two week high of $45.24. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 456.67, a price-to-earnings-growth ratio of 2.45 and a beta of 1.41. The firm has a 50-day simple moving average of $40.30 and a 200-day simple moving average of $37.10. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.53 and a current ratio of 2.41.

Barnes Group (NYSE:B) last announced its earnings results on Friday, July 26th. The industrial products company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). Barnes Group had a return on equity of 5.92% and a net margin of 0.31%. The business had revenue of $382.23 million for the quarter, compared to analyst estimates of $398.80 million. On average, equities research analysts anticipate that Barnes Group Inc. will post 1.72 earnings per share for the current year.

Barnes Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 22nd will be issued a $0.16 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $0.64 dividend on an annualized basis and a yield of 1.56%. Barnes Group’s dividend payout ratio (DPR) is presently 711.11%.

About Barnes Group

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.