Exchange Traded Concepts LLC purchased a new stake in shares of Barnes Group Inc. (NYSE:B – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 740 shares of the industrial products company’s stock, valued at approximately $31,000.
Several other institutional investors have also added to or reduced their stakes in B. Louisiana State Employees Retirement System boosted its holdings in shares of Barnes Group by 12.7% during the second quarter. Louisiana State Employees Retirement System now owns 26,600 shares of the industrial products company’s stock worth $1,122,000 after purchasing an additional 3,000 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Barnes Group by 35.1% during the first quarter. JPMorgan Chase & Co. now owns 97,024 shares of the industrial products company’s stock worth $3,908,000 after purchasing an additional 25,183 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of Barnes Group by 20.1% during the first quarter. Thrivent Financial for Lutherans now owns 1,646,791 shares of the industrial products company’s stock worth $66,333,000 after purchasing an additional 275,574 shares during the period. Susquehanna International Group LLP boosted its holdings in shares of Barnes Group by 27.2% during the first quarter. Susquehanna International Group LLP now owns 28,621 shares of the industrial products company’s stock worth $1,153,000 after purchasing an additional 6,121 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Barnes Group during the first quarter worth about $218,000. 86.03% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Barnes Group in a research note on Thursday, October 5th. They issued a “buy” rating for the company. Truist Financial increased their price target on shares of Barnes Group from $38.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, July 21st.
Barnes Group Price Performance
B stock opened at $33.34 on Thursday. Barnes Group Inc. has a 1 year low of $30.31 and a 1 year high of $47.36. The company has a market cap of $1.69 billion, a P/E ratio of 27.11, a PEG ratio of 1.49 and a beta of 1.22. The firm has a 50-day moving average of $36.58 and a 200 day moving average of $39.33. 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 (NYSE:B – Get Free Report) last announced its earnings results on Friday, July 28th. The industrial products company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. Barnes Group had a net margin of 4.84% and a return on equity of 7.92%. The business had revenue of $339.00 million during the quarter, compared to the consensus estimate of $340.43 million. During the same quarter last year, the firm earned $0.56 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, sell-side analysts forecast that Barnes Group Inc. will post 2.2 EPS for the current year.
Barnes Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Thursday, August 24th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Wednesday, August 23rd. Barnes Group’s dividend payout ratio is 52.03%.
Barnes Group Company 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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