Principal Financial Group Inc. Sells 4,867 Shares of Barnes Group Inc. (NYSE:B)

Principal Financial Group Inc. lowered its stake in shares of Barnes Group Inc. (NYSE:B – Get Rating) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 315,792 shares of the industrial products company’s stock after selling 4,867 shares during the quarter. Principal Financial Group Inc. owned 0.62% of Barnes Group worth $12,900,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Advisor Group Holdings Inc. grew its stake in Barnes Group by 15.0% in the 1st 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 period. JPMorgan Chase & Co. grew its stake in Barnes Group by 51.3% in the 1st quarter. JPMorgan Chase & Co. now owns 178,508 shares of the industrial products company’s stock valued at $7,174,000 after purchasing an additional 60,512 shares during the period. Raymond James & Associates grew its stake in Barnes Group by 17.3% in the 1st quarter. Raymond James & Associates now owns 83,915 shares of the industrial products company’s stock valued at $3,373,000 after purchasing an additional 12,391 shares during the period. US Bancorp DE grew its stake in Barnes Group by 10.4% in the 1st quarter. US Bancorp DE now owns 10,617 shares of the industrial products company’s stock valued at $427,000 after purchasing an additional 1,001 shares during the period. Finally, Citigroup Inc. grew its stake in Barnes Group by 11.0% in the 1st quarter. Citigroup Inc. now owns 40,453 shares of the industrial products company’s stock valued at $1,626,000 after purchasing an additional 4,021 shares during the period. Institutional investors own 86.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on B shares. Truist Financial dropped their price target on Barnes Group from $40.00 to $37.00 in a research report on Monday, April 24th. StockNews.com started coverage on Barnes Group in a research report on Thursday, May 18th. They set a “buy” rating on the stock.

Barnes Group Stock Performance

Shares of B opened at $39.99 on Thursday. The stock’s 50-day simple moving average is $40.04 and its 200 day simple moving average is $41.08. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.47 and a current ratio of 2.41. Barnes Group Inc. has a 52-week low of $27.93 and a 52-week high of $47.36. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 363.55, a price-to-earnings-growth ratio of 1.88 and a beta of 1.23.

Barnes Group (NYSE:B – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.08. Barnes Group had a return on equity of 7.94% and a net margin of 0.48%. The business had revenue of $335.40 million for the quarter, compared to analyst estimates of $312.91 million. During the same period last year, the company earned $0.41 EPS. Barnes Group’s revenue for the quarter was up 7.2% compared to the same quarter last year. Research analysts forecast that Barnes Group Inc. will post 2.2 EPS for the current fiscal year.

Barnes Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Shareholders of record on Thursday, May 25th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Wednesday, May 24th. Barnes Group’s dividend payout ratio (DPR) is currently 581.82%.

Insiders Place Their Bets

In other news, Director Neal J. Keating bought 2,500 shares of the stock in a transaction dated Tuesday, May 2nd. The stock was bought at an average price of $41.59 per share, for a total transaction of $103,975.00. Following the purchase, the director now directly owns 4,872 shares in the company, valued at approximately $202,626.48. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.10% of the company’s stock.

Barnes Group Profile

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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.