Barnes Group Inc. (NYSE:B) Position Boosted by BlackRock Inc.

BlackRock Inc. boosted its holdings in shares of Barnes Group Inc. (NYSE:B – Get Rating) by 3.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,778,194 shares of the industrial products company’s stock after purchasing an additional 289,461 shares during the period. BlackRock Inc. owned approximately 15.38% of Barnes Group worth $224,632,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Guggenheim Capital LLC acquired a new stake in shares of Barnes Group during the third quarter worth $980,000. AXA S.A. purchased a new position in shares of Barnes Group in the third quarter worth approximately $271,000. Envestnet Asset Management Inc. raised its holdings in shares of Barnes Group by 1.5% during the third quarter. Envestnet Asset Management Inc. now owns 56,989 shares of the industrial products company’s stock valued at $1,646,000 after acquiring an additional 827 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Barnes Group by 4.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,238,684 shares of the industrial products company’s stock valued at $93,533,000 after acquiring an additional 149,270 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Barnes Group by 212.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 8,932 shares of the industrial products company’s stock worth $258,000 after purchasing an additional 6,077 shares during the period. 86.16% of the stock is currently owned by institutional investors.

Barnes Group Stock Performance

Shares of B stock opened at $38.06 on Tuesday. The firm has a market cap of $1.93 billion, a P/E ratio of 152.24, a PEG ratio of 1.80 and a beta of 1.24. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.40 and a quick ratio of 1.47. Barnes Group Inc. has a fifty-two week low of $27.93 and a fifty-two week high of $47.36. The stock’s 50-day moving average is $43.15 and its two-hundred day moving average is $38.20.

Barnes Group (NYSE:B – Get Rating) last released its quarterly earnings data on Friday, February 17th. The industrial products company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The firm had revenue of $313.50 million for the quarter, compared to the consensus estimate of $322.70 million. Barnes Group had a return on equity of 7.62% and a net margin of 1.07%. The firm’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.55 earnings per share. Analysts predict that Barnes Group Inc. will post 2.15 earnings per share for the current fiscal year.

Barnes Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 23rd were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Wednesday, February 22nd. Barnes Group’s dividend payout ratio is 256.00%.

Analyst Upgrades and Downgrades

B has been the subject of a number of research analyst reports. StockNews.com upgraded Barnes Group from a “hold” rating to a “buy” rating in a report on Monday, March 6th. Oppenheimer lifted their target price on Barnes Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, November 29th. Finally, Truist Financial increased their price target on shares of Barnes Group from $37.00 to $40.00 and gave the stock a “hold” rating in a research report on Tuesday, February 21st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Barnes Group presently has an average rating of “Hold” and an average price target of $41.50.

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.