Select Equity Group L.P. Has $11.76 Million Stock Holdings in Barnes Group Inc. (NYSE:B)

Select Equity Group L.P. reduced its stake in shares of Barnes Group Inc. (NYSE:B) by 54.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 284,093 shares of the industrial products company’s stock after selling 339,274 shares during the period. Select Equity Group L.P. owned about 0.56% of Barnes Group worth $11,764,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in B. Westwood Holdings Group Inc. purchased a new stake in shares of Barnes Group during the second quarter valued at approximately $32,576,000. Norges Bank bought a new position in Barnes Group in the 4th quarter valued at $10,871,000. AYAL Capital Advisors Ltd purchased a new stake in shares of Barnes Group during the 2nd quarter valued at $12,166,000. Mason Capital Management LLC raised its stake in shares of Barnes Group by 32.9% during the 2nd quarter. Mason Capital Management LLC now owns 1,050,079 shares of the industrial products company’s stock worth $43,484,000 after purchasing an additional 259,957 shares during the period. Finally, Invenomic Capital Management LP purchased a new position in shares of Barnes Group in the 4th quarter worth about $7,759,000. Institutional investors own 90.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on B. DA Davidson lifted their price target on shares of Barnes Group from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Truist Financial upped their price target on Barnes Group from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Finally, Oppenheimer increased their price target on Barnes Group from $43.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th.

Barnes Group Price Performance

B opened at $39.49 on Friday. The stock’s 50 day moving average price is $38.83 and its 200-day moving average price is $38.44. Barnes Group Inc. has a 52-week low of $18.79 and a 52-week high of $45.24. The stock has a market capitalization of $2.00 billion, a PE ratio of 438.78, a price-to-earnings-growth ratio of 2.43 and a beta of 1.39. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.33 and a current ratio of 2.24.

Barnes Group (NYSE:B) last announced its quarterly earnings results on Friday, July 26th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). Barnes Group had a negative net margin of 3.74% and a positive return on equity of 5.21%. The company had revenue of $382.23 million for the quarter, compared to analysts’ expectations of $398.80 million. On average, equities research analysts predict that Barnes Group Inc. will post 1.62 EPS for the current year.

Barnes Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 22nd were paid a $0.16 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $0.64 annualized dividend and a dividend yield of 1.62%. Barnes Group’s payout ratio is currently 711.11%.

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.