Everence Capital Management Inc. Purchases 4,050 Shares of Barnes Group Inc. (NYSE:B)

Everence Capital Management Inc. lifted its position in Barnes Group Inc. (NYSE:B) by 66.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,110 shares of the industrial products company’s stock after acquiring an additional 4,050 shares during the quarter. Everence Capital Management Inc.’s holdings in Barnes Group were worth $330,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new position in Barnes Group in the 4th quarter worth approximately $19,412,000. Thrivent Financial for Lutherans grew its stake in shares of Barnes Group by 20.1% during the 1st quarter. Thrivent Financial for Lutherans now owns 1,646,791 shares of the industrial products company’s stock worth $66,333,000 after purchasing an additional 275,574 shares during the period. Vanguard Group Inc. grew its stake in shares of Barnes Group by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 5,361,174 shares of the industrial products company’s stock worth $154,831,000 after purchasing an additional 175,707 shares during the period. Invesco Ltd. lifted its position in shares of Barnes Group by 109.9% during the 1st quarter. Invesco Ltd. now owns 310,724 shares of the industrial products company’s stock valued at $12,488,000 after buying an additional 162,693 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of Barnes Group by 56.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 349,731 shares of the industrial products company’s stock valued at $14,755,000 after buying an additional 125,590 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

B has been the topic of a number of recent analyst reports. 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 report on Thursday. Truist Financial raised their price objective on Barnes Group from $23.00 to $34.00 and gave the company a “hold” rating in a report on Wednesday, January 10th. Oppenheimer raised their price objective on Barnes Group from $36.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Finally, StockNews.com upgraded Barnes Group from a “sell” rating to a “hold” rating in a report on Monday, February 19th.

Barnes Group Stock Up 8.1 %

Shares of NYSE:B opened at $36.10 on Friday. The business has a 50-day moving average price of $36.04 and a 200 day moving average price of $31.87. The company has a current ratio of 2.29, a quick ratio of 1.37 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 116.46, a PEG ratio of 2.01 and a beta of 1.38. Barnes Group Inc. has a 12-month low of $18.79 and a 12-month high of $43.65.

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

Barnes Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Thursday, February 22nd were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.77%. The ex-dividend date was Wednesday, February 21st. Barnes Group’s dividend payout ratio is currently 206.46%.

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.