ProShare Advisors LLC lessened its position in Barnes Group Inc. (NYSE:B – Get Rating) by 11.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,502 shares of the industrial products company's stock after selling 1,300 shares during the quarter. ProShare Advisors LLC's holdings in Barnes Group were worth $423,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. UMB Bank N A MO bought a new position in shares of Barnes Group during the 4th quarter worth about $31,000. Point72 Hong Kong Ltd bought a new position in shares of Barnes Group during the 4th quarter worth about $34,000. First Horizon Advisors Inc. increased its holdings in shares of Barnes Group by 1,647.1% during the 4th quarter. First Horizon Advisors Inc. now owns 891 shares of the industrial products company's stock worth $41,000 after purchasing an additional 840 shares during the period. US Asset Management LLC bought a new stake in Barnes Group in the first quarter valued at about $80,000. Finally, Advisor Group Holdings Inc. increased 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 acquiring an additional 785 shares during the period. Institutional investors own 84.38% of the company's stock.
Get Barnes Group alerts:Barnes Group Price Performance
NYSE:B opened at $30.38 on Friday. The firm has a market cap of $1.53 billion, a PE ratio of 42.19, a price-to-earnings-growth ratio of 1.63 and a beta of 1.17. Barnes Group Inc. has a 12 month low of $29.60 and a 12 month high of $48.79. 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 company's 50-day moving average price is $32.63 and its two-hundred day moving average price is $36.22.
Barnes Group (NYSE:B – Get Rating) last announced its earnings results on Friday, July 29th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.08. Barnes Group had a net margin of 2.91% and a return on equity of 7.57%. The company had revenue of $321.00 million for the quarter, compared to analyst estimates of $329.09 million. During the same period in the prior year, the business earned $0.45 earnings per share. Barnes Group's quarterly revenue was up .0% on a year-over-year basis. On average, equities analysts anticipate that Barnes Group Inc. will post 1.96 EPS for the current fiscal year.Barnes Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Thursday, August 25th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, August 24th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.11%. Barnes Group's payout ratio is 88.89%.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on B shares. Truist Financial lowered 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 note on Tuesday, July 19th. StockNews.com upgraded shares of Barnes Group from a "hold" rating to a "buy" rating in a research report on Friday, August 26th. Finally, DA Davidson reduced their price target on shares of Barnes Group to $36.00 in a research report on Tuesday, August 9th.
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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