First Eagle Investment Management LLC Has $15.78 Million Stock Position in Barnes Group Inc. (NYSE:B)

First Eagle Investment Management LLC cut its holdings in shares of Barnes Group Inc. (NYSE:B) by 2.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 380,998 shares of the industrial products company’s stock after selling 10,203 shares during the period. First Eagle Investment Management LLC owned 0.75% of Barnes Group worth $15,777,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. UniSuper Management Pty Ltd acquired a new stake in shares of Barnes Group during the first quarter worth $497,000. Invenomic Capital Management LP bought a new stake in shares of Barnes Group in the 4th quarter valued at about $7,759,000. Vanguard Group Inc. raised its position in shares of Barnes Group by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 5,689,535 shares of the industrial products company’s stock valued at $211,366,000 after acquiring an additional 206,351 shares during the period. Russell Investments Group Ltd. raised its position in shares of Barnes Group by 22.0% in the 1st quarter. Russell Investments Group Ltd. now owns 383,359 shares of the industrial products company’s stock valued at $14,242,000 after acquiring an additional 69,097 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in Barnes Group by 64.8% during the 1st quarter. BNP Paribas Financial Markets now owns 26,382 shares of the industrial products company’s stock worth $980,000 after acquiring an additional 10,373 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.

Barnes Group Stock Performance

Shares of B stock opened at $38.66 on Thursday. 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 Inc. has a 52 week low of $18.79 and a 52 week high of $45.24. The company’s 50 day moving average price is $39.27 and its two-hundred day moving average price is $38.33. The company has a market capitalization of $1.96 billion, a P/E ratio of 429.56, a price-to-earnings-growth ratio of 2.14 and a beta of 1.39.

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

Barnes Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 22nd were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.66%. Barnes Group’s payout ratio is presently 711.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Oppenheimer increased their target price on shares of Barnes Group from $43.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, June 14th. DA Davidson upped their price objective on shares of Barnes Group from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Truist Financial lifted their target price on Barnes Group from $34.00 to $38.00 and gave the stock a “hold” rating in a report on Monday, July 29th.

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.