Verition Fund Management LLC Reduces Stock Holdings in Barnes Group Inc. (NYSE:B)

Verition Fund Management LLC decreased its position in Barnes Group Inc. (NYSE:B) by 34.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,632 shares of the industrial products company’s stock after selling 21,747 shares during the quarter. Verition Fund Management LLC’s holdings in Barnes Group were worth $2,062,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc raised its holdings in Barnes Group by 51.0% in the first quarter. Versant Capital Management Inc now owns 610 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 206 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in Barnes Group in the first quarter worth $38,000. Quantbot Technologies LP bought a new position in Barnes Group in the first quarter worth $98,000. Captrust Financial Advisors raised its holdings in Barnes Group by 2,100.0% in the first quarter. Captrust Financial Advisors now owns 2,090 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 1,995 shares in the last quarter. Finally, Sciencast Management LP bought a new position in Barnes Group in the first quarter worth $205,000. Institutional investors and hedge funds own 85.04% of the company’s stock.

A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded Barnes Group from a “sell” rating to a “hold” rating and set a $53.00 price objective for the company in a report on Tuesday, April 27th. Wells Fargo & Company raised their price target on Barnes Group from $51.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, June 30th. TheStreet downgraded Barnes Group from a “b-” rating to a “c+” rating in a report on Friday, April 30th. Finally, Morgan Stanley reduced their price target on Barnes Group from $66.00 to $64.00 and set an “underweight” rating for the company in a report on Thursday, June 10th. Three analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Barnes Group has an average rating of “Hold” and an average target price of $51.29.

Barnes Group stock opened at $50.08 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.18 and a quick ratio of 1.39. Barnes Group Inc. has a one year low of $33.59 and a one year high of $57.64. The stock has a market capitalization of $2.54 billion, a PE ratio of 38.08, a PEG ratio of 2.61 and a beta of 1.26. The firm’s fifty day simple moving average is $51.91.

Barnes Group (NYSE:B) last released its quarterly earnings data on Thursday, April 29th. The industrial products company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.31 by $0.07. Barnes Group had a return on equity of 5.04% and a net margin of 4.84%. The company had revenue of $301.60 million for the quarter, compared to analysts’ expectations of $275.70 million. During the same period last year, the firm posted $0.71 earnings per share. Barnes Group’s revenue was down 8.8% compared to the same quarter last year. As a group, research analysts anticipate that Barnes Group Inc. will post 1.91 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 10th. Shareholders of record on Thursday, August 26th will be given a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, August 25th. This represents a $0.64 annualized dividend and a yield of 1.28%. Barnes Group’s payout ratio is 39.02%.

Barnes Group Company Profile

Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. It operates in two segments: Industrial and Aerospace. The Industrial segment offers precision components, products, and systems used by 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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