William B. Walkup & Associates Inc. Invests $714,000 in Barnes Group Inc. (NYSE:B)

William B. Walkup & Associates Inc. acquired a new position in Barnes Group Inc. (NYSE:B) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 17,235 shares of the industrial products company’s stock, valued at approximately $714,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Westwood Holdings Group Inc. bought a new stake in shares of Barnes Group in the 2nd quarter valued at about $32,576,000. Norges Bank bought a new stake in shares of Barnes Group in the 4th quarter valued at about $10,871,000. AYAL Capital Advisors Ltd bought a new stake in shares of Barnes Group in the 2nd quarter valued at about $12,166,000. Mason Capital Management LLC lifted its stake in shares of Barnes Group by 32.9% in the 2nd quarter. Mason Capital Management LLC now owns 1,050,079 shares of the industrial products company’s stock valued at $43,484,000 after acquiring an additional 259,957 shares during the last quarter. Finally, Invenomic Capital Management LP bought a new stake in shares of Barnes Group in the 4th quarter valued at about $7,759,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barnes Group Trading Up 0.9 %

B opened at $39.84 on Monday. Barnes Group Inc. has a one year low of $18.79 and a one year high of $45.24. The business has a 50 day simple moving average of $38.78 and a two-hundred day simple moving average of $38.47. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.24 and a quick ratio of 1.33. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 442.67, a PEG ratio of 2.43 and a beta of 1.39.

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

Barnes Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on B. Truist Financial upped their price target on Barnes Group from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Oppenheimer upped their price target on Barnes Group from $43.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. Finally, DA Davidson upped their price target on Barnes Group from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, July 29th.

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.