State of Tennessee Treasury Department reduced its holdings in shares of Barnes Group Inc. (NYSE:B – Get Rating) by 15.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,567 shares of the industrial products company's stock after selling 4,206 shares during the quarter. State of Tennessee Treasury Department's holdings in Barnes Group were worth $907,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Cornercap Investment Counsel Inc. boosted its stake in shares of Barnes Group by 1.3% during the 1st quarter. Cornercap Investment Counsel Inc. now owns 25,954 shares of the industrial products company's stock valued at $1,043,000 after buying an additional 342 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of Barnes Group by 5.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 6,711 shares of the industrial products company's stock valued at $270,000 after buying an additional 348 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its stake in shares of Barnes Group by 1.7% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 21,500 shares of the industrial products company's stock valued at $864,000 after buying an additional 350 shares during the last quarter. Advisor Group Holdings Inc. lifted its stake in Barnes Group by 15.0% during the first quarter. Advisor Group Holdings Inc. now owns 4,191 shares of the industrial products company's stock worth $168,000 after purchasing an additional 546 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in Barnes Group by 4.1% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,762 shares of the industrial products company's stock worth $633,000 after purchasing an additional 618 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.
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Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. DA Davidson reduced their price objective on Barnes Group to $36.00 in a research note on Tuesday, August 9th. Truist Financial reduced their price objective on Barnes Group from $38.00 to $33.00 and set a "hold" rating on the stock in a research note on Tuesday, July 19th. Finally, StockNews.com upgraded Barnes Group from a "hold" rating to a "buy" rating in a research note on Friday, August 26th.
Barnes Group Stock Performance
B stock opened at $30.95 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.51 and a current ratio of 2.42. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 42.99, a PEG ratio of 1.63 and a beta of 1.17. Barnes Group Inc. has a 1 year low of $29.60 and a 1 year high of $48.79. The stock's fifty day moving average is $32.63 and its two-hundred day moving average is $36.22.
Barnes Group (NYSE:B – Get Rating) last posted its earnings results on Friday, July 29th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.08. The company had revenue of $321.00 million for the quarter, compared to analysts' expectations of $329.09 million. Barnes Group had a return on equity of 7.57% and a net margin of 2.91%. The firm's quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the business posted $0.45 earnings per share. On average, research analysts predict that Barnes Group Inc. will post 1.96 EPS for the current year.
Barnes Group Dividend Announcement
The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Wednesday, August 24th. Barnes Group's dividend payout ratio (DPR) is 88.89%.
Barnes Group Company 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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