Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its holdings in Barnes Group Inc. (NYSE:B – Free Report) by 1.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,544 shares of the industrial products company’s stock after selling 576 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.11% of Barnes Group worth $2,157,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Barnes Group in the fourth quarter valued at approximately $19,412,000. Mesirow Institutional Investment Management Inc. purchased a new stake in Barnes Group in the first quarter valued at approximately $8,687,000. Vanguard Group Inc. increased its position in shares of Barnes Group by 3.4% during the third quarter. Vanguard Group Inc. now owns 5,361,174 shares of the industrial products company’s stock worth $154,831,000 after acquiring an additional 175,707 shares during the period. Invesco Ltd. increased its position in shares of Barnes Group by 109.9% during the first quarter. Invesco Ltd. now owns 310,724 shares of the industrial products company’s stock worth $12,488,000 after acquiring an additional 162,693 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Barnes Group by 120.2% during the fourth quarter. Victory Capital Management Inc. now owns 296,721 shares of the industrial products company’s stock worth $13,133,000 after acquiring an additional 161,998 shares during the period. 85.72% of the stock is currently owned by institutional investors and hedge funds.
Barnes Group Stock Performance
NYSE:B opened at $38.15 on Friday. The firm has a market capitalization of $1.93 billion, a PE ratio of 31.02, a price-to-earnings-growth ratio of 1.70 and a beta of 1.20. The business’s fifty day moving average price is $40.69 and its 200 day moving average price is $40.96. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.29 and a quick ratio of 1.41. Barnes Group Inc. has a 12 month low of $27.93 and a 12 month high of $47.36.
Barnes Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 24th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.68%. The ex-dividend date is Wednesday, August 23rd. Barnes Group’s dividend payout ratio (DPR) is presently 52.03%.
Analyst Ratings Changes
A number of analysts have recently weighed in on B shares. Truist Financial upped their price objective on Barnes Group from $38.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, July 21st. StockNews.com started coverage on Barnes Group in a research report on Thursday. They set a “buy” rating on the stock.
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 mobility, industrial equipment, automation, personal care, packaging, electronics, and medical devices.
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