Zurcher Kantonalbank Zurich Cantonalbank Has $412,000 Stock Position in Barnes Group Inc. (NYSE:B)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Barnes Group Inc. (NYSE:B) by 20.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,633 shares of the industrial products company’s stock after purchasing an additional 2,169 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Barnes Group were worth $412,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue boosted its position in Barnes Group by 316.2% during the fourth quarter. State of Alaska Department of Revenue now owns 131,176 shares of the industrial products company’s stock worth $4,280,000 after purchasing an additional 99,655 shares during the period. First Eagle Investment Management LLC grew its stake in Barnes Group by 49.6% in the 3rd quarter. First Eagle Investment Management LLC now owns 314,344 shares of the industrial products company’s stock valued at $10,678,000 after buying an additional 104,198 shares during the last quarter. Trust Point Inc. bought a new position in Barnes Group in the 4th quarter worth $414,000. Illinois Municipal Retirement Fund acquired a new position in Barnes Group during the 3rd quarter worth $1,040,000. Finally, State Board of Administration of Florida Retirement System boosted its holdings in Barnes Group by 40.1% during the third quarter. State Board of Administration of Florida Retirement System now owns 49,149 shares of the industrial products company’s stock valued at $1,670,000 after acquiring an additional 14,067 shares during the period. 90.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

B has been the subject of several research analyst reports. Truist Financial boosted their price objective on Barnes Group from $23.00 to $34.00 and gave the stock a “hold” rating in a research report on Wednesday, January 10th. Oppenheimer increased their price objective on Barnes Group from $36.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. StockNews.com raised shares of Barnes Group from a “sell” rating to a “hold” rating in a research report on Monday, February 19th. Finally, DA Davidson raised shares of Barnes Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $35.00 to $45.00 in a report on Thursday, April 18th.

Barnes Group Trading Up 0.9 %

Barnes Group stock opened at $36.53 on Friday. The business has a 50 day moving average price of $35.98 and a two-hundred day moving average price of $32.04. The company has a quick ratio of 1.53, a current ratio of 2.41 and a debt-to-equity ratio of 0.97. Barnes Group Inc. has a 12 month low of $18.79 and a 12 month high of $43.65. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 405.89, a price-to-earnings-growth ratio of 2.04 and a beta of 1.37.

Barnes Group (NYSE:B) last issued its earnings results on Friday, February 16th. The industrial products company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. Barnes Group had a return on equity of 5.92% and a net margin of 0.31%. The business had revenue of $415.50 million during the quarter, compared to analyst estimates of $420.47 million. During the same period in the prior year, the company posted $0.52 earnings per share. Barnes Group’s revenue was up 32.5% on a year-over-year basis. As a group, equities analysts forecast that Barnes Group Inc. will post 1.7 EPS for the current year.

Barnes Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Thursday, February 22nd were paid a $0.16 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $0.64 dividend on an annualized basis and a yield of 1.75%. Barnes Group’s payout ratio is currently 711.11%.

Barnes Group Profile

Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. The company operates through 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.