Jacobs Levy Equity Management Inc. Sells 6,459 Shares of Barnes Group Inc. (NYSE:B)

Jacobs Levy Equity Management Inc. lowered its holdings in Barnes Group Inc. (NYSE:B) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 226,619 shares of the industrial products company’s stock after selling 6,459 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.45% of Barnes Group worth $8,419,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in B. State of Alaska Department of Revenue increased its stake 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 acquiring an additional 99,655 shares during the period. Trust Point Inc. acquired a new position in Barnes Group in the fourth quarter valued at about $414,000. New York State Teachers Retirement System boosted its position in Barnes Group by 2.3% in the fourth quarter. New York State Teachers Retirement System now owns 80,466 shares of the industrial products company’s stock valued at $2,626,000 after buying an additional 1,839 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in Barnes Group in the fourth quarter valued at about $829,000. Finally, Everence Capital Management Inc. boosted its position 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 own 90.82% of the company’s stock.

Analyst Ratings Changes

B has been the topic of a number of recent analyst reports. DA Davidson boosted their price target on shares of Barnes Group from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Monday. Truist Financial boosted their price target on shares of Barnes Group from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Monday. Finally, Oppenheimer upped their target price on shares of Barnes Group from $43.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th.

Barnes Group Price Performance

Shares of B stock traded down $0.11 during trading hours on Tuesday, reaching $40.02. 559,241 shares of the company were exchanged, compared to its average volume of 327,413. Barnes Group Inc. has a fifty-two week low of $18.79 and a fifty-two week high of $45.24. The stock’s fifty day moving average is $40.28 and its two-hundred day moving average is $37.26. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 446.11, a P/E/G ratio of 2.39 and a beta of 1.41. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.24 and a quick ratio of 1.33.

Barnes Group (NYSE:B) last announced its earnings results on Friday, April 26th. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. Barnes Group had a negative net margin of 3.74% and a positive return on equity of 5.21%. The company had revenue of $430.64 million for the quarter, compared to analyst estimates of $425.32 million. Sell-side analysts forecast that Barnes Group Inc. will post 1.72 earnings per share for the current fiscal year.

Barnes Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors 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 annualized dividend and a yield of 1.60%. Barnes Group’s dividend payout ratio is currently 711.11%.

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.