Verition Fund Management LLC Sells 21,747 Shares of Barnes Group Inc. (NYSE:B)

Verition Fund Management LLC lowered its stake in Barnes Group Inc. (NYSE:B) by 34.3% in the 1st quarter, according to its most recent 13F filing with the Securities & 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 owned 0.08% of Barnes Group worth $2,062,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its stake in shares of Barnes Group by 51.0% in the 1st quarter. Versant Capital Management Inc now owns 610 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 206 shares in the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of Barnes Group in the 1st quarter valued at $38,000. Quantbot Technologies LP bought a new stake in shares of Barnes Group in the 1st quarter valued at $98,000. Captrust Financial Advisors increased its stake in Barnes Group by 2,100.0% during the 1st quarter. Captrust Financial Advisors now owns 2,090 shares of the industrial products company’s stock valued at $104,000 after purchasing an additional 1,995 shares in the last quarter. Finally, Sciencast Management LP bought a new stake in Barnes Group during the 1st quarter valued at $205,000. Institutional investors own 85.04% of the company’s stock.

B opened at $50.08 on Thursday. The company has a quick ratio of 1.39, a current ratio of 2.18 and a debt-to-equity ratio of 0.49. The stock has a market cap of $2.54 billion, a P/E ratio of 38.08, a price-to-earnings-growth ratio of 2.61 and a beta of 1.26. The business’s fifty day moving average price is $51.91. Barnes Group Inc. has a 1 year low of $33.59 and a 1 year high of $57.64.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, September 10th. Investors of record on Thursday, August 26th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Wednesday, August 25th. Barnes Group’s dividend payout ratio (DPR) is currently 39.02%.

A number of brokerages have commented on B. Morgan Stanley decreased their price target on shares of Barnes Group from $66.00 to $64.00 and set an “underweight” rating for the company in a research note on Thursday, June 10th. Wells Fargo & Company boosted their price target on shares of Barnes Group from $51.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, June 30th. TheStreet lowered shares of Barnes Group from a “b-” rating to a “c+” rating in a research note on Friday, April 30th. Finally, Zacks Investment Research upgraded shares of Barnes Group from a “sell” rating to a “hold” rating and set a $53.00 price target for the company in a research note on Tuesday, April 27th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Barnes Group presently has an average rating of “Hold” and a consensus target price of $51.29.

Barnes Group 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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