Profund Advisors LLC grew its stake in shares of Barnes Group Inc. (NYSE:B) by 5.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,376 shares of the industrial products company’s stock after buying an additional 356 shares during the period. Profund Advisors LLC’s holdings in Barnes Group were worth $328,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Mutual of America Capital Management LLC boosted its holdings in Barnes Group by 6.5% during the second quarter. Mutual of America Capital Management LLC now owns 6,625 shares of the industrial products company’s stock worth $340,000 after buying an additional 402 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Barnes Group during the first quarter worth about $720,000. Duality Advisers LP bought a new position in Barnes Group during the first quarter worth about $382,000. Russell Investments Group Ltd. boosted its holdings in Barnes Group by 85.7% during the first quarter. Russell Investments Group Ltd. now owns 76,050 shares of the industrial products company’s stock worth $3,766,000 after buying an additional 35,106 shares during the last quarter. Finally, Champlain Investment Partners LLC lifted its holdings in shares of Barnes Group by 1.2% during the 1st quarter. Champlain Investment Partners LLC now owns 2,794,975 shares of the industrial products company’s stock valued at $138,463,000 after purchasing an additional 33,220 shares in the last quarter. Hedge funds and other institutional investors own 85.41% of the company’s stock.
Separately, Wells Fargo & Company lifted their price objective on Barnes Group from $51.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, June 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $50.40.
NYSE:B opened at $42.68 on Thursday. Barnes Group Inc. has a fifty-two week low of $35.21 and a fifty-two week high of $57.64. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.16 and a quick ratio of 1.40. The stock has a market capitalization of $2.16 billion, a PE ratio of 28.27, a price-to-earnings-growth ratio of 2.36 and a beta of 1.24. The business’s 50-day simple moving average is $45.75 and its 200-day simple moving average is $49.34.
Barnes Group (NYSE:B) last announced its earnings results on Thursday, July 29th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.01. Barnes Group had a return on equity of 5.59% and a net margin of 6.52%. The business had revenue of $321.16 million for the quarter, compared to analyst estimates of $305.89 million. During the same quarter last year, the firm earned $0.27 EPS. Barnes Group’s revenue for the quarter was up 36.4% compared to the same quarter last year. On average, research analysts expect that Barnes Group Inc. will post 1.91 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Thursday, August 26th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Wednesday, August 25th. Barnes Group’s dividend payout ratio is presently 39.02%.
About Barnes Group
Barnes Group, Inc engages in the provision of engineered products, industrial technologies, and solutions, serving a wide range of end markets and customers. It operates through the Industrial and Aerospace segments. The Industrial segment includes molding solutions; force and motion control; and automation and engineered components business units.
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