Teacher Retirement System of Texas boosted its stake in shares of Barnes Group Inc. (NYSE:B – Get Rating) by 7.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,897 shares of the industrial products company's stock after purchasing an additional 686 shares during the quarter. Teacher Retirement System of Texas' holdings in Barnes Group were worth $398,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank N A MO acquired a new position in Barnes Group in the fourth quarter valued at about $31,000. Point72 Hong Kong Ltd acquired a new position in Barnes Group in the fourth quarter valued at about $34,000. First Horizon Advisors Inc. raised its stake in Barnes Group by 1,647.1% in the fourth quarter. First Horizon Advisors Inc. now owns 891 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 840 shares in the last quarter. US Asset Management LLC acquired a new position in Barnes Group in the first quarter valued at about $80,000. Finally, Advisor Group Holdings Inc. raised its stake in Barnes Group by 27.4% in the fourth quarter. Advisor Group Holdings Inc. now owns 3,645 shares of the industrial products company's stock valued at $170,000 after purchasing an additional 785 shares in the last quarter. 86.03% of the stock is owned by institutional investors.
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Wall Street Analyst Weigh In
B has been the subject of several research analyst reports. StockNews.com downgraded Barnes Group from a "buy" rating to a "hold" rating in a research note on Monday, August 1st. Truist Financial lowered their target price on Barnes Group from $38.00 to $33.00 and set a "hold" rating for the company in a research note on Tuesday, July 19th. Finally, DA Davidson lowered their target price on Barnes Group to $36.00 in a research note on Tuesday, August 9th.
Barnes Group Stock Performance
NYSE:B opened at $32.97 on Thursday. The stock has a market cap of $1.67 billion, a P/E ratio of 45.79, a price-to-earnings-growth ratio of 1.68 and a beta of 1.17. The company has a current ratio of 2.42, a quick ratio of 1.51 and a debt-to-equity ratio of 0.44. The stock's 50-day moving average is $32.58 and its 200-day moving average is $36.78. Barnes Group Inc. has a 1-year low of $29.60 and a 1-year high of $49.10.
Barnes Group (NYSE:B – Get Rating) last released its quarterly earnings results 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. Barnes Group had a return on equity of 7.57% and a net margin of 2.91%. The company had revenue of $321.00 million for the quarter, compared to analysts' expectations of $329.09 million. During the same period in the previous year, the business posted $0.45 earnings per share. The business's quarterly revenue was up .0% compared to the same quarter last year. Equities research analysts anticipate that Barnes Group Inc. will post 1.96 earnings per share for the current year.
Barnes Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Thursday, August 25th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Wednesday, August 24th. Barnes Group's payout ratio is presently 88.89%.
Barnes Group Profile
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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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