Champlain Investment Partners LLC Sells 259,990 Shares of Barnes Group Inc. (NYSE:B)

Champlain Investment Partners LLC lessened its stake in shares of Barnes Group Inc. (NYSE:B) by 24.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 813,325 shares of the industrial products company’s stock after selling 259,990 shares during the quarter. Champlain Investment Partners LLC owned approximately 1.60% of Barnes Group worth $30,215,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of B. Vanguard Group Inc. lifted its holdings in shares of Barnes Group by 3.8% during 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 purchasing an additional 206,351 shares during the last quarter. Irenic Capital Management LP purchased a new position in Barnes Group in the 4th quarter worth $47,219,000. Charles Schwab Investment Management Inc. raised its stake in Barnes Group by 8.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 771,557 shares of the industrial products company’s stock worth $25,176,000 after acquiring an additional 62,823 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in Barnes Group by 1.4% in 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. Finally, First Eagle Investment Management LLC raised its stake in Barnes Group by 31.8% in the 4th quarter. First Eagle Investment Management LLC now owns 414,301 shares of the industrial products company’s stock worth $13,519,000 after acquiring an additional 99,957 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.

Barnes Group Stock Performance

B traded up $0.71 during midday trading on Tuesday, hitting $43.42. 250,330 shares of the company were exchanged, compared to its average volume of 313,544. The company’s 50 day simple moving average is $40.18 and its 200 day simple moving average is $36.87. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 483.44, a price-to-earnings-growth ratio of 2.45 and a beta of 1.41. The company has a current ratio of 2.41, a quick ratio of 1.53 and a debt-to-equity ratio of 0.97. Barnes Group Inc. has a 1-year low of $18.79 and a 1-year high of $45.24.

Barnes Group (NYSE:B) last announced its quarterly earnings results on Friday, April 26th. The industrial products company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.03. Barnes Group had a return on equity of 5.92% and a net margin of 0.31%. The company had revenue of $430.64 million for the quarter, compared to the consensus estimate of $425.32 million. As a group, sell-side analysts predict that Barnes Group Inc. will post 1.72 earnings per share for the current year.

Barnes Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Thursday, August 22nd. Barnes Group’s dividend payout ratio (DPR) is presently 711.11%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on B shares. Oppenheimer raised their target price on Barnes Group from $43.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th. DA Davidson increased their price target on Barnes Group from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th.

Barnes Group 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.