WFA of San Diego LLC Takes $49,000 Position in Barnes Group Inc. (NYSE:B)

WFA of San Diego LLC purchased a new stake in shares of Barnes Group Inc. (NYSE:B) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,170 shares of the industrial products company’s stock, valued at approximately $49,000.

Several other institutional investors have also recently made changes to their positions in B. Norges Bank purchased a new stake in Barnes Group in the fourth quarter valued at approximately $19,412,000. Thrivent Financial for Lutherans raised its position in Barnes Group by 20.1% in the first quarter. Thrivent Financial for Lutherans now owns 1,646,791 shares of the industrial products company’s stock valued at $66,333,000 after purchasing an additional 275,574 shares during the period. Vanguard Group Inc. raised its position in Barnes Group by 3.4% in the third quarter. Vanguard Group Inc. now owns 5,361,174 shares of the industrial products company’s stock valued at $154,831,000 after purchasing an additional 175,707 shares during the period. Invesco Ltd. raised its position in Barnes Group by 109.9% in the first quarter. Invesco Ltd. now owns 310,724 shares of the industrial products company’s stock valued at $12,488,000 after purchasing an additional 162,693 shares during the period. Finally, Victory Capital Management Inc. raised its position in Barnes Group by 64.6% in the fourth quarter. Victory Capital Management Inc. now owns 221,753 shares of the industrial products company’s stock valued at $9,059,000 after purchasing an additional 87,030 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Barnes Group Stock Up 0.8 %

Shares of NYSE B opened at $26.44 on Tuesday. Barnes Group Inc. has a 52-week low of $18.79 and a 52-week high of $47.36. The business has a 50-day moving average price of $30.16 and a 200 day moving average price of $36.70. The company has a quick ratio of 1.40, a current ratio of 2.37 and a debt-to-equity ratio of 0.98. The stock has a market cap of $1.34 billion, a PE ratio of 56.26, a price-to-earnings-growth ratio of 1.64 and a beta of 1.23.

Barnes Group (NYSE:B) last posted its quarterly earnings data on Friday, October 27th. The industrial products company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.32). Barnes Group had a return on equity of 6.64% and a net margin of 1.81%. The company had revenue of $360.99 million for the quarter, compared to analyst estimates of $357.17 million. Equities research analysts forecast that Barnes Group Inc. will post 1.6 earnings per share for the current year.

Barnes Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 22nd will be issued a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $0.64 annualized dividend and a dividend yield of 2.42%. Barnes Group’s dividend payout ratio is currently 136.17%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Oppenheimer dropped their price target on shares of Barnes Group from $48.00 to $30.00 and set an “outperform” rating for the company in a research note on Monday, October 30th. Truist Financial dropped their price target on shares of Barnes Group from $40.00 to $37.00 and set a “hold” rating for the company in a research note on Friday, October 20th. Finally, StockNews.com downgraded shares of Barnes Group from a “buy” rating to a “hold” rating in a research note on Monday, October 30th.

Insider Activity

In other Barnes Group news, CEO Thomas J. Hook purchased 14,565 shares of Barnes Group stock in a transaction dated Tuesday, October 31st. The stock was acquired at an average cost of $20.66 per share, with a total value of $300,912.90. Following the acquisition, the chief executive officer now directly owns 112,155 shares of the company’s stock, valued at $2,317,122.30. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Thomas J. Hook acquired 14,565 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was purchased at an average cost of $20.66 per share, with a total value of $300,912.90. Following the purchase, the chief executive officer now directly owns 112,155 shares of the company’s stock, valued at approximately $2,317,122.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Neal J. Keating acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was purchased at an average cost of $20.06 per share, with a total value of $40,120.00. Following the completion of the purchase, the director now directly owns 7,845 shares in the company, valued at $157,370.70. The disclosure for this purchase can be found here. Insiders acquired 77,592 shares of company stock valued at $1,723,540 in the last three months. 5.22% of the stock is currently owned by company insiders.

Barnes Group Company Profile

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