First National Bank of Omaha reduced its stake in shares of Barnes Group Inc. (NYSE:B – Get Rating) by 10.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 20,890 shares of the industrial products company's stock after selling 2,534 shares during the period. First National Bank of Omaha's holdings in Barnes Group were worth $840,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cornercap Investment Counsel Inc. boosted its stake in shares of Barnes Group by 1.3% in the 1st quarter. Cornercap Investment Counsel Inc. now owns 25,954 shares of the industrial products company's stock worth $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% in the 1st quarter. Mutual of America Capital Management LLC now owns 6,711 shares of the industrial products company's stock worth $270,000 after buying an additional 348 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its stake in Barnes Group by 1.7% in the first quarter. NorthCrest Asset Manangement LLC now owns 21,500 shares of the industrial products company's stock valued at $864,000 after purchasing an additional 350 shares during the last quarter. Advisor Group Holdings Inc. lifted its stake in Barnes Group by 15.0% in the first quarter. Advisor Group Holdings Inc. now owns 4,191 shares of the industrial products company's stock valued at $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% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,762 shares of the industrial products company's stock valued at $633,000 after purchasing an additional 618 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.
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Analyst Upgrades and Downgrades
Several equities analysts recently commented on B shares. Truist Financial dropped 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. StockNews.com upgraded Barnes Group from a "hold" rating to a "buy" rating in a research note on Friday, August 26th. Finally, DA Davidson dropped their price objective on Barnes Group to $36.00 in a research note on Tuesday, August 9th.
Barnes Group Trading Down 2.1 %
NYSE:B opened at $31.57 on Friday. The company has a market cap of $1.59 billion, a P/E ratio of 43.85, a P/E/G ratio of 1.61 and a beta of 1.18. The stock's fifty day moving average price is $32.71 and its two-hundred day moving average price is $35.15. Barnes Group Inc. has a 1 year low of $29.60 and a 1 year high of $48.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.42 and a quick ratio of 1.51.
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, topping the consensus estimate of $0.48 by $0.08. The firm had revenue of $321.00 million for the quarter, compared to the consensus estimate of $329.09 million. Barnes Group had a return on equity of 7.57% and a net margin of 2.91%. The business's quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 earnings per share. As a group, analysts expect that Barnes Group Inc. will post 1.96 EPS for the current year.
Barnes Group Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Thursday, August 25th were issued a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $0.64 annualized dividend and a dividend yield of 2.03%. Barnes Group's payout ratio is currently 88.89%.
About Barnes Group
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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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