Russell Investments Group Ltd. cut its holdings in Barnes Group Inc. (NYSE:B – Get Rating) by 28.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,260 shares of the industrial products company’s stock after selling 38,324 shares during the quarter. Russell Investments Group Ltd. owned about 0.19% of Barnes Group worth $3,867,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank N A MO acquired a new stake in shares of Barnes Group in the fourth quarter worth $31,000. Point72 Hong Kong Ltd bought a new position in Barnes Group during the fourth quarter worth $34,000. First Horizon Advisors Inc. increased its position in Barnes Group by 1,647.1% during the fourth quarter. First Horizon Advisors Inc. now owns 891 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 840 shares during the period. US Asset Management LLC bought a new position in Barnes Group during the first quarter worth $80,000. Finally, Advisor Group Holdings Inc. increased its position in Barnes Group by 27.4% during the fourth quarter. Advisor Group Holdings Inc. now owns 3,645 shares of the industrial products company’s stock worth $170,000 after acquiring an additional 785 shares during the period. 86.03% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
B has been the topic of a number of research reports. StockNews.com lowered shares of Barnes Group from a “buy” rating to a “hold” rating in a research report on Monday, August 1st. DA Davidson dropped their target price on shares of Barnes Group to $36.00 in a research report on Tuesday. Finally, Truist Financial dropped their target price on shares of Barnes Group from $38.00 to $33.00 and set a “hold” rating on the stock in a research report on Tuesday, July 19th.
Barnes Group Stock Performance
NYSE:B opened at $34.71 on Friday. Barnes Group Inc. has a 12-month low of $29.60 and a 12-month high of $50.34. The company has a quick ratio of 1.51, a current ratio of 2.42 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $1.75 billion, a PE ratio of 48.21, a price-to-earnings-growth ratio of 1.70 and a beta of 1.17. The firm has a 50-day moving average price of $32.76 and a 200 day moving average price of $37.46.
Barnes Group (NYSE:B – Get Rating) last posted its quarterly earnings data on Friday, July 29th. The industrial products company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.08. The company had revenue of $321.00 million during the quarter, compared to analyst estimates of $329.09 million. Barnes Group had a net margin of 2.91% and a return on equity of 7.57%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the business posted $0.45 earnings per share. Research analysts anticipate that Barnes Group Inc. will post 1.96 earnings per share for the current fiscal year.
Barnes Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Thursday, August 25th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Wednesday, August 24th. Barnes Group’s payout ratio is 88.89%.
About Barnes Group
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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