Public Employees Retirement Association of Colorado Sells 622 Shares of Barnes Group Inc. (NYSE:B)

Public Employees Retirement Association of Colorado cut its holdings in Barnes Group Inc. (NYSE:B) by 8.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,790 shares of the industrial products company’s stock after selling 622 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Barnes Group were worth $281,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in B. Norges Bank purchased a new position in Barnes Group in the 4th quarter worth about $10,871,000. US Bancorp DE grew its stake in shares of Barnes Group by 175.1% in the fourth quarter. US Bancorp DE now owns 18,956 shares of the industrial products company’s stock worth $619,000 after acquiring an additional 12,066 shares during the period. Parallel Advisors LLC raised its holdings in shares of Barnes Group by 418.3% during the fourth quarter. Parallel Advisors LLC now owns 1,218 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 983 shares during the last quarter. TFO Wealth Partners LLC lifted its position in Barnes Group by 57,362.5% during the fourth quarter. TFO Wealth Partners LLC now owns 4,597 shares of the industrial products company’s stock valued at $150,000 after purchasing an additional 4,589 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Barnes Group in the fourth quarter worth approximately $1,674,000. 90.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on B shares. DA Davidson boosted their target price on shares of Barnes Group from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Truist Financial lifted their price objective on Barnes Group from $34.00 to $38.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Finally, Oppenheimer increased their target price on Barnes Group from $43.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, June 14th.

Barnes Group Stock Up 0.9 %

Shares of B stock opened at $39.84 on Friday. The company has a current ratio of 2.24, a quick ratio of 1.33 and a debt-to-equity ratio of 0.90. Barnes Group Inc. has a 12 month low of $18.79 and a 12 month high of $45.24. The stock has a market cap of $2.02 billion, a P/E ratio of 442.67, a P/E/G ratio of 2.43 and a beta of 1.39. The company has a 50 day simple moving average of $38.78 and a two-hundred day simple moving average of $38.46.

Barnes Group (NYSE:B) last posted its quarterly earnings data on Friday, July 26th. The industrial products company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). The company had revenue of $382.23 million during the quarter, compared to analysts’ expectations of $398.80 million. Barnes Group had a positive return on equity of 5.21% and a negative net margin of 3.74%. On average, research analysts expect that Barnes Group Inc. will post 1.62 earnings per share for the current year.

Barnes Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.61%. Barnes Group’s payout ratio is currently 711.11%.

Barnes Group Company 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.