Louisiana State Employees Retirement System Makes New Investment in Barnes Group Inc. (NYSE:B)

Louisiana State Employees Retirement System bought a new position in shares of Barnes Group Inc. (NYSE:B) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 25,400 shares of the industrial products company’s stock, valued at approximately $829,000. Louisiana State Employees Retirement System owned approximately 0.05% of Barnes Group at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in B. Charles Schwab Investment Management Inc. grew its holdings in Barnes Group by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 708,734 shares of the industrial products company’s stock worth $24,076,000 after purchasing an additional 1,982 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in Barnes Group by 1.4% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 494,517 shares of the industrial products company’s stock worth $16,136,000 after purchasing an additional 7,048 shares during the last quarter. Invesco Ltd. grew its holdings in Barnes Group by 29.6% in the third quarter. Invesco Ltd. now owns 383,403 shares of the industrial products company’s stock worth $13,024,000 after purchasing an additional 87,472 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in Barnes Group by 49.6% in the third quarter. First Eagle Investment Management LLC now owns 314,344 shares of the industrial products company’s stock worth $10,678,000 after purchasing an additional 104,198 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. grew its holdings in Barnes Group by 3.8% in the third quarter. Mesirow Institutional Investment Management Inc. now owns 259,548 shares of the industrial products company’s stock worth $8,817,000 after purchasing an additional 9,472 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on B. Oppenheimer boosted their price objective on shares of Barnes Group from $36.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Truist Financial boosted their price objective on shares of Barnes Group from $23.00 to $34.00 and gave the company a “hold” rating in a report on Wednesday, January 10th. StockNews.com raised shares of Barnes Group from a “sell” rating to a “hold” rating in a report on Monday, February 19th. Finally, DA Davidson raised shares of Barnes Group from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $35.00 to $45.00 in a report on Thursday, April 18th.

Barnes Group Stock Down 3.9 %

B opened at $34.51 on Friday. Barnes Group Inc. has a twelve month low of $18.79 and a twelve month high of $43.65. The company has a quick ratio of 1.37, a current ratio of 2.29 and a debt-to-equity ratio of 0.94. The company has a 50-day moving average price of $36.06 and a 200 day moving average price of $31.98. The company has a market cap of $1.75 billion, a PE ratio of 111.32, a price-to-earnings-growth ratio of 2.15 and a beta of 1.38.

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

Barnes Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Thursday, February 22nd were paid a dividend of $0.16 per share. The ex-dividend date was Wednesday, February 21st. This represents a $0.64 annualized dividend and a yield of 1.85%. Barnes Group’s dividend payout ratio is presently 206.45%.

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.