Everence Capital Management Inc. Grows Stock Position in Barnes Group Inc. (NYSE:B)

Everence Capital Management Inc. increased its holdings in shares of Barnes Group Inc. (NYSE:B) by 66.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,110 shares of the industrial products company’s stock after purchasing an additional 4,050 shares during the quarter. Everence Capital Management Inc.’s holdings in Barnes Group were worth $330,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Lazard Asset Management LLC purchased a new position in shares of Barnes Group in the 2nd quarter worth about $51,000. Tower Research Capital LLC TRC raised its holdings in shares of Barnes Group by 275.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,715 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 1,258 shares during the period. Counterpoint Mutual Funds LLC purchased a new position in shares of Barnes Group in the 3rd quarter worth about $82,000. Money Concepts Capital Corp purchased a new position in shares of Barnes Group in the 4th quarter worth about $96,000. Finally, Captrust Financial Advisors raised its holdings in shares of Barnes Group by 45.6% in the 1st quarter. Captrust Financial Advisors now owns 3,048 shares of the industrial products company’s stock worth $122,000 after purchasing an additional 954 shares during the period. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barnes Group Price Performance

B stock opened at $36.10 on Friday. Barnes Group Inc. has a 1 year low of $18.79 and a 1 year high of $43.65. The stock has a 50-day simple moving average of $36.04 and a 200-day simple moving average of $31.87. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.37 and a current ratio of 2.29. The firm has a market cap of $1.83 billion, a P/E ratio of 116.46, a price-to-earnings-growth ratio of 2.01 and a beta of 1.38.

Barnes Group (NYSE:B) last issued its quarterly earnings data on Friday, February 16th. The industrial products company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. Barnes Group had a return on equity of 6.20% and a net margin of 1.10%. The firm had revenue of $415.50 million during the quarter, compared to analyst estimates of $420.47 million. During the same quarter last year, the firm earned $0.52 EPS. Barnes Group’s quarterly revenue was up 32.5% on a year-over-year basis. On average, equities analysts predict that Barnes Group Inc. will post 1.69 earnings per share for the current fiscal year.

Barnes Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Thursday, February 22nd were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $0.64 dividend on an annualized basis and a yield of 1.77%. Barnes Group’s dividend payout ratio (DPR) is presently 206.46%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on B shares. DA Davidson upgraded Barnes Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $35.00 to $45.00 in a research note on Thursday. Oppenheimer increased their target price on Barnes Group from $36.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. StockNews.com upgraded Barnes Group from a “sell” rating to a “hold” rating in a research note on Monday, February 19th. Finally, Truist Financial increased their target price on Barnes Group from $23.00 to $34.00 and gave the company a “hold” rating in a research note on Wednesday, January 10th.

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.