Pitcairn Co. Boosts Stock Position in Barnes Group Inc. (NYSE:B)

Pitcairn Co. raised its position in shares of Barnes Group Inc. (NYSE:B) by 6.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,743 shares of the industrial products company’s stock after purchasing an additional 548 shares during the quarter. Pitcairn Co.’s holdings in Barnes Group were worth $362,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in B. Parallel Advisors LLC boosted its stake in shares of Barnes Group by 418.3% in the fourth quarter. Parallel Advisors LLC now owns 1,218 shares of the industrial products company’s stock worth $40,000 after buying an additional 983 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Barnes Group during the fourth quarter valued at approximately $58,000. CWM LLC raised its holdings in shares of Barnes Group by 470.7% during the fourth quarter. CWM LLC now owns 2,100 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 1,732 shares during the last quarter. TFO Wealth Partners LLC raised its holdings in shares of 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 acquiring an additional 4,589 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Barnes Group during the first quarter valued at approximately $208,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. 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. DA Davidson upped their price target on Barnes Group from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, June 13th.

Barnes Group Trading Down 0.3 %

Barnes Group stock traded down $0.11 during mid-day trading on Thursday, hitting $42.11. The company’s stock had a trading volume of 788,476 shares, compared to its average volume of 317,367. The firm has a market capitalization of $2.13 billion, a PE ratio of 468.89, a price-to-earnings-growth ratio of 2.53 and a beta of 1.41. Barnes Group Inc. has a 1 year low of $18.79 and a 1 year high of $45.24. The company has a current ratio of 2.41, a quick ratio of 1.53 and a debt-to-equity ratio of 0.97. The stock’s fifty day moving average is $40.27 and its two-hundred day moving average is $37.00.

Barnes Group (NYSE:B) last issued its quarterly earnings data on Friday, April 26th. The industrial products company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.03. The company had revenue of $430.64 million during the quarter, compared to analyst estimates of $425.32 million. Barnes Group had a return on equity of 5.92% and a net margin of 0.31%. On average, analysts anticipate that Barnes Group Inc. will post 1.72 EPS for the current year.

Barnes Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.64 annualized dividend and a dividend yield of 1.52%. Barnes Group’s dividend 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.