Invenomic Capital Management LP Purchases New Shares in Barnes Group Inc. (NYSE:B)

Invenomic Capital Management LP acquired a new position in shares of Barnes Group Inc. (NYSE:BFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 237,777 shares of the industrial products company’s stock, valued at approximately $7,759,000. Invenomic Capital Management LP owned about 0.47% of Barnes Group as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in shares of Barnes Group by 29.4% during the third quarter. Victory Capital Management Inc. now owns 20,893 shares of the industrial products company’s stock worth $710,000 after acquiring an additional 4,741 shares during the last quarter. Barclays PLC raised its holdings in Barnes Group by 18.0% during the 3rd quarter. Barclays PLC now owns 60,706 shares of the industrial products company’s stock worth $2,063,000 after purchasing an additional 9,276 shares during the last quarter. Swiss National Bank raised its holdings in Barnes Group by 1.1% during the 3rd quarter. Swiss National Bank now owns 105,700 shares of the industrial products company’s stock worth $3,591,000 after purchasing an additional 1,100 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Barnes Group by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 708,734 shares of the industrial products company’s stock valued at $24,076,000 after purchasing an additional 1,982 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of Barnes Group by 40.1% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 49,149 shares of the industrial products company’s stock valued at $1,670,000 after purchasing an additional 14,067 shares during the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barnes Group Stock Down 0.1 %

NYSE:B opened at $37.12 on Tuesday. The company has a market cap of $1.88 billion, a PE ratio of 412.44, a PEG ratio of 2.18 and a beta of 1.40. The stock has a 50-day simple moving average of $37.35 and a 200 day simple moving average of $34.46. 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 Inc. has a 52-week low of $18.79 and a 52-week high of $43.65.

Barnes Group (NYSE:BGet Free Report) last released its earnings results on Friday, April 26th. The industrial products company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. Barnes Group had a net margin of 0.31% and a return on equity of 5.92%. The business had revenue of $430.64 million during the quarter, compared to the consensus estimate of $425.32 million. On average, sell-side analysts expect that Barnes Group Inc. will post 1.71 EPS for the current fiscal year.

Barnes Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Wednesday, May 29th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Wednesday, May 29th. Barnes Group’s dividend payout ratio (DPR) is 711.11%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Oppenheimer boosted their target price on Barnes Group from $36.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. DA Davidson raised shares of Barnes Group from a “neutral” rating to a “buy” rating and upped their target price for the company from $35.00 to $45.00 in a research note on Thursday, April 18th. Finally, StockNews.com raised shares of Barnes Group from a “sell” rating to a “hold” rating in a research report on Monday, February 19th.

Get Our Latest Stock Analysis on B

Barnes Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Barnes Group (NYSE:B)

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