Guggenheim Capital LLC Makes New Investment in Barnes Group Inc. (NYSE:B)

Guggenheim Capital LLC bought a new position in Barnes Group Inc. (NYSE:B – Get Rating) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 33,927 shares of the industrial products company’s stock, valued at approximately $980,000. Guggenheim Capital LLC owned 0.07% of Barnes Group at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of B. Allspring Global Investments Holdings LLC grew its position in shares of Barnes Group by 66.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,396 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 954 shares during the period. Captrust Financial Advisors grew its position in shares of Barnes Group by 45.6% during the 1st quarter. Captrust Financial Advisors now owns 3,048 shares of the industrial products company’s stock valued at $122,000 after acquiring an additional 954 shares during the period. Quantbot Technologies LP lifted its stake in shares of Barnes Group by 274.4% during the 3rd quarter. Quantbot Technologies LP now owns 4,485 shares of the industrial products company’s stock valued at $129,000 after buying an additional 3,287 shares in the last quarter. Advisor Group Holdings Inc. lifted its stake in shares of Barnes Group by 15.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 4,191 shares of the industrial products company’s stock valued at $168,000 after buying an additional 546 shares in the last quarter. Finally, Heritage Wealth Management LLC purchased a new position in shares of Barnes Group during the 2nd quarter valued at $196,000. Institutional investors own 86.16% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on B shares. Truist Financial lifted their target price on shares of Barnes Group from $37.00 to $40.00 and gave the company a “hold” rating in a research note on Tuesday, February 21st. StockNews.com upgraded shares of Barnes Group from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Oppenheimer boosted their price target on shares of Barnes Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 29th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $41.50.

Barnes Group Stock Up 0.1 %

Shares of B stock opened at $40.58 on Wednesday. The stock has a market cap of $2.05 billion, a P/E ratio of 162.32, a PEG ratio of 1.97 and a beta of 1.24. Barnes Group Inc. has a 52 week low of $27.93 and a 52 week high of $47.36. The company has a quick ratio of 1.47, a current ratio of 2.40 and a debt-to-equity ratio of 0.42. The company’s fifty day simple moving average is $43.19 and its two-hundred day simple moving average is $38.05.

Barnes Group (NYSE:B – Get Rating) last announced its earnings results on Friday, February 17th. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. The firm had revenue of $313.50 million for the quarter, compared to analysts’ expectations of $322.70 million. Barnes Group had a net margin of 1.07% and a return on equity of 7.62%. The business’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 EPS. Analysts predict that Barnes Group Inc. will post 2.16 EPS for the current fiscal year.

Barnes Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 10th. Investors of record on Thursday, February 23rd will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, February 22nd. This represents a $0.64 annualized dividend and a yield of 1.58%. Barnes Group’s payout ratio is 256.00%.

About Barnes Group

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Barnes Group, Inc engages in the provision of engineered products, industrial technologies and solutions. It operates through the Industrial and Aerospace segments. The Industrial segment includes molding solutions, force and motion control, and the automation and engineered components business units.