Illinois Municipal Retirement Fund Has $945,000 Stake in Barnes Group Inc. (NYSE:B)

Illinois Municipal Retirement Fund reduced its stake in Barnes Group Inc. (NYSE:B) by 5.4% during the fourth quarter, HoldingsChannel reports. The firm owned 28,949 shares of the industrial products company’s stock after selling 1,653 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Barnes Group were worth $945,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position 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 valued at $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% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 494,517 shares of the industrial products company’s stock worth $16,136,000 after acquiring an additional 7,048 shares during the last quarter. Invesco Ltd. increased its position in Barnes Group by 29.6% in the 3rd quarter. Invesco Ltd. now owns 383,403 shares of the industrial products company’s stock valued at $13,024,000 after acquiring an additional 87,472 shares during the period. First Eagle Investment Management LLC raised its stake in shares of Barnes Group by 49.6% during the third quarter. First Eagle Investment Management LLC now owns 314,344 shares of the industrial products company’s stock valued at $10,678,000 after acquiring an additional 104,198 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. lifted its holdings in shares of Barnes Group by 3.8% during 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 period. 90.82% of the stock is owned by institutional investors.

Barnes Group Stock Down 4.0 %

Shares of Barnes Group stock opened at $34.47 on Monday. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 383.00, a PEG ratio of 2.05 and a beta of 1.38. The stock’s 50-day moving average is $36.06 and its 200 day moving average is $31.96. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.29 and a quick ratio of 1.37. Barnes Group Inc. has a one year low of $18.79 and a one year high of $43.65.

Barnes Group (NYSE:B) last announced its quarterly earnings data on Friday, February 16th. The industrial products company reported $0.41 EPS 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 company had revenue of $415.50 million during the quarter, compared to the consensus estimate of $420.47 million. During the same quarter last year, the firm posted $0.52 EPS. The company’s quarterly revenue was up 32.5% on a year-over-year basis. Equities research analysts anticipate that Barnes Group Inc. will post 1.69 EPS for the current year.

Barnes Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Thursday, February 22nd were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.86%. Barnes Group’s dividend payout ratio (DPR) is presently 711.11%.

Analyst Upgrades and Downgrades

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

About Barnes Group

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.