Chesapeake Capital Corp IL Takes Position in Barnes Group Inc. (NYSE:B)

Chesapeake Capital Corp IL acquired a new position in Barnes Group Inc. (NYSE:B) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 9,795 shares of the industrial products company’s stock, valued at approximately $406,000.

Several other institutional investors have also added to or reduced their stakes in the business. UniSuper Management Pty Ltd bought a new position in shares of Barnes Group during the 1st quarter valued at approximately $497,000. Invenomic Capital Management LP purchased a new stake in shares of Barnes Group in the fourth quarter worth $7,759,000. Vanguard Group Inc. raised its position in shares of Barnes Group by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 5,689,535 shares of the industrial products company’s stock valued at $211,366,000 after purchasing an additional 206,351 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Barnes Group by 22.0% during the 1st quarter. Russell Investments Group Ltd. now owns 383,359 shares of the industrial products company’s stock valued at $14,242,000 after buying an additional 69,097 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Barnes Group by 64.8% in the 1st quarter. BNP Paribas Financial Markets now owns 26,382 shares of the industrial products company’s stock worth $980,000 after buying an additional 10,373 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Barnes Group Stock Down 2.1 %

Shares of NYSE:B opened at $35.88 on Tuesday. The business’s 50 day moving average is $39.72 and its 200 day moving average is $38.26. The stock has a market cap of $1.82 billion, a P/E ratio of 398.67, a price-to-earnings-growth ratio of 2.26 and a beta of 1.39. Barnes Group Inc. has a 52-week low of $18.79 and a 52-week high of $45.24. The company has a quick ratio of 1.33, a current ratio of 2.24 and a debt-to-equity ratio of 0.90.

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

Barnes Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 22nd will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.78%. The ex-dividend date is Thursday, August 22nd. Barnes Group’s payout ratio is 711.11%.

About Barnes Group

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.