New York State Common Retirement Fund Raises Stock Position in Barnes Group Inc. (NYSE:B)

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New York State Common Retirement Fund grew its holdings in Barnes Group Inc. (NYSE:B) by 10.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 256,792 shares of the industrial products company’s stock after acquiring an additional 24,152 shares during the period. New York State Common Retirement Fund owned about 0.51% of Barnes Group worth $10,742,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in B. Marshall Wace LLP purchased a new stake in Barnes Group during the 1st quarter worth $347,000. First Trust Advisors LP purchased a new stake in Barnes Group during the 1st quarter worth $734,000. Amundi Pioneer Asset Management Inc. purchased a new stake in Barnes Group during the 1st quarter worth $3,425,000. Strs Ohio increased its stake in Barnes Group by 29.6% during the 4th quarter. Strs Ohio now owns 3,500 shares of the industrial products company’s stock worth $216,000 after buying an additional 800 shares during the period. Finally, California Public Employees Retirement System increased its stake in Barnes Group by 19.3% during the 4th quarter. California Public Employees Retirement System now owns 141,449 shares of the industrial products company’s stock worth $8,764,000 after buying an additional 22,884 shares during the period. 89.00% of the stock is currently owned by hedge funds and other institutional investors.

NYSE B opened at $35.88 on Friday. Barnes Group Inc. has a one year low of $30.22 and a one year high of $68.60. The company has a 50-day simple moving average of $37.50 and a 200-day simple moving average of $53.22. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 2.15. The firm has a market capitalization of $1.82 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 1.97 and a beta of 1.16.

Barnes Group (NYSE:B) last posted its quarterly earnings results on Friday, April 24th. The industrial products company reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.19. Barnes Group had a net margin of 10.66% and a return on equity of 13.36%. The business had revenue of $331.00 million during the quarter, compared to analyst estimates of $313.44 million. During the same period in the previous year, the business posted $0.71 EPS. The company’s quarterly revenue was down 12.2% on a year-over-year basis. Equities analysts forecast that Barnes Group Inc. will post 1.84 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Thursday, May 21st. Barnes Group’s dividend payout ratio (DPR) is presently 19.94%.

Several equities research analysts recently issued reports on the stock. Wells Fargo & Co lifted their price target on shares of Barnes Group from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Sidoti dropped their target price on shares of Barnes Group from $78.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, March 19th. Imperial Capital boosted their target price on shares of Barnes Group from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. MKM Partners dropped their target price on shares of Barnes Group from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Friday, March 6th. Finally, Deutsche Bank boosted their target price on shares of Barnes Group from $60.00 to $61.00 and gave the stock a “hold” rating in a research report on Friday. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $44.92.

Barnes Group Company Profile

Barnes Group Inc operates as an industrial and aerospace manufacturer, and service provider in the United States and internationally. Its Industrial segment offers precision components, products, and systems for applications serving various customers in end-markets, such as transportation, 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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