Barnes Group Inc. (NYSE:B) Stock Position Lifted by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC lifted its position in Barnes Group Inc. (NYSE:B) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 494,517 shares of the industrial products company’s stock after purchasing an additional 7,048 shares during the period. Barnes Group comprises 3.0% of Patriot Financial Group Insurance Agency LLC’s portfolio, making the stock its 2nd largest holding. Patriot Financial Group Insurance Agency LLC owned approximately 0.98% of Barnes Group worth $16,136,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northern Trust Corp grew its holdings in shares of Barnes Group by 2.3% in the second quarter. Northern Trust Corp now owns 669,778 shares of the industrial products company’s stock valued at $28,258,000 after purchasing an additional 14,996 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of 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 worth $10,678,000 after purchasing an additional 104,198 shares during the period. Illinois Municipal Retirement Fund bought a new position in shares of Barnes Group during the 3rd quarter valued at approximately $1,040,000. State Board of Administration of Florida Retirement System lifted its position in Barnes Group by 40.1% in the third quarter. State Board of Administration of Florida Retirement System now owns 49,149 shares of the industrial products company’s stock worth $1,670,000 after buying an additional 14,067 shares during the last quarter. Finally, Swiss National Bank boosted its stake in Barnes Group by 1.1% during the third quarter. Swiss National Bank now owns 105,700 shares of the industrial products company’s stock worth $3,591,000 after buying an additional 1,100 shares during the period. 90.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on B shares. Truist Financial upped their price objective on Barnes Group from $23.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th. StockNews.com upgraded shares of Barnes Group from a “sell” rating to a “hold” rating in a report on Monday, February 19th. Finally, Oppenheimer upped their target price on shares of Barnes Group from $36.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th.

Barnes Group Stock Down 0.9 %

Shares of NYSE:B traded down $0.33 during trading on Friday, reaching $37.15. The stock had a trading volume of 370,097 shares, compared to its average volume of 290,020. The company has a current ratio of 2.29, a quick ratio of 1.37 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $1.88 billion, a P/E ratio of 119.84, a PEG ratio of 2.22 and a beta of 1.37. Barnes Group Inc. has a one year low of $18.79 and a one year high of $43.65. The firm’s 50-day simple moving average is $35.43 and its 200 day simple moving average is $31.85.

Barnes Group (NYSE:B) last posted its quarterly earnings results on Friday, February 16th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. Barnes Group had a net margin of 1.10% and a return on equity of 6.20%. The company had revenue of $415.50 million during the quarter, compared to analyst estimates of $420.47 million. During the same period last year, the firm posted $0.52 EPS. Barnes Group’s revenue for the quarter was up 32.5% compared to the same quarter last year. As a group, research analysts expect that Barnes Group Inc. will post 1.69 EPS for the current fiscal year.

Barnes Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Thursday, February 22nd were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Wednesday, February 21st. Barnes Group’s dividend payout ratio is currently 206.46%.

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.