Insider Buying: Barnes Group Inc. (NYSE:B) Director Acquires $1,139,000.00 in Stock

Barnes Group Inc. (NYSE:B) Director Hans-Peter Manner purchased 50,000 shares of Barnes Group stock in a transaction dated Tuesday, November 7th. The shares were acquired at an average cost of $22.78 per share, for a total transaction of $1,139,000.00. Following the transaction, the director now directly owns 66,079 shares of the company’s stock, valued at approximately $1,505,279.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Barnes Group Stock Up 3.6 %

Shares of NYSE:B opened at $24.27 on Friday. The firm’s 50 day moving average price is $31.57 and its 200 day moving average price is $37.37. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 51.64, a price-to-earnings-growth ratio of 1.47 and a beta of 1.23. Barnes Group Inc. has a fifty-two week low of $18.79 and a fifty-two week high of $47.36. The company has a quick ratio of 1.40, a current ratio of 2.37 and a debt-to-equity ratio of 0.98.

Barnes Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Wednesday, November 22nd will be paid a $0.16 dividend. The ex-dividend date is Tuesday, November 21st. This represents a $0.64 annualized dividend and a yield of 2.64%. Barnes Group’s dividend payout ratio is currently 136.17%.

Analyst Ratings Changes

Several brokerages have recently issued reports on B. Truist Financial reduced their price target on shares of Barnes Group from $40.00 to $37.00 and set a “hold” rating on the stock in a research report on Friday, October 20th. Oppenheimer reduced their price target on shares of Barnes Group from $48.00 to $30.00 and set an “outperform” rating on the stock in a research report on Monday, October 30th. Finally, StockNews.com cut shares of Barnes Group from a “buy” rating to a “hold” rating in a report on Monday, October 30th.

Hedge Funds Weigh In On Barnes Group

Hedge funds have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC purchased a new position in shares of Barnes Group during the second quarter worth approximately $31,000. WFA of San Diego LLC purchased a new position in shares of Barnes Group during the second quarter worth approximately $49,000. Lazard Asset Management LLC purchased a new position in shares of Barnes Group during the second quarter worth approximately $51,000. Tower Research Capital LLC TRC grew its position in shares of Barnes Group by 275.3% during the first quarter. Tower Research Capital LLC TRC now owns 1,715 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 1,258 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new position in shares of Barnes Group during the third quarter worth approximately $82,000. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

About Barnes Group

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.