Flynn Zito Capital Management LLC Takes Position in Barnes Group Inc. (NYSE:B)

Flynn Zito Capital Management LLC purchased a new stake in Barnes Group Inc. (NYSE:B) in the fourth quarter, Holdings Channel reports. The firm purchased 7,757 shares of the industrial products company’s stock, valued at approximately $253,000.

A number of other large investors have also made changes to their positions in the stock. Metropolitan Life Insurance Co NY grew its position in shares of Barnes Group by 9.9% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,164 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 286 shares in the last quarter. State of Wyoming grew its position in shares of Barnes Group by 7.9% in the second quarter. State of Wyoming now owns 4,401 shares of the industrial products company’s stock valued at $186,000 after purchasing an additional 322 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Barnes Group by 9.6% in the third quarter. Public Employees Retirement System of Ohio now owns 4,574 shares of the industrial products company’s stock valued at $132,000 after purchasing an additional 402 shares in the last quarter. Occudo Quantitative Strategies LP grew its position in shares of Barnes Group by 2.3% in the second quarter. Occudo Quantitative Strategies LP now owns 19,347 shares of the industrial products company’s stock valued at $602,000 after purchasing an additional 427 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Barnes Group by 2.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,839 shares of the industrial products company’s stock valued at $742,000 after purchasing an additional 483 shares in the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barnes Group Trading Up 8.1 %

NYSE:B traded up $2.69 during trading hours on Thursday, reaching $36.08. 481,449 shares of the stock were exchanged, compared to its average volume of 330,727. The company has a quick ratio of 1.37, a current ratio of 2.29 and a debt-to-equity ratio of 0.94. The business has a 50-day moving average of $36.01 and a two-hundred day moving average of $31.84. Barnes Group Inc. has a twelve month low of $18.79 and a twelve month high of $43.65. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 115.52, a PEG ratio of 2.01 and a beta of 1.38.

Barnes Group (NYSE:B) last announced its quarterly earnings data on Friday, February 16th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.06. The business had revenue of $415.50 million for the quarter, compared to analysts’ expectations of $420.47 million. Barnes Group had a return on equity of 6.20% and a net margin of 1.10%. The company’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same period last year, the firm earned $0.52 earnings per share. On average, equities analysts predict that Barnes Group Inc. will post 1.69 EPS for the current year.

Barnes Group Dividend Announcement

The business also recently disclosed 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 1.77%. The ex-dividend date was Wednesday, February 21st. Barnes Group’s payout ratio is currently 206.46%.

Analyst Upgrades and Downgrades

B has been the subject of several analyst reports. DA Davidson upgraded Barnes Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $35.00 to $45.00 in a research report on Thursday. Oppenheimer increased their price objective on Barnes Group from $36.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Truist Financial increased their price objective on Barnes Group from $23.00 to $34.00 and gave the stock a “hold” rating in a research report on Wednesday, January 10th. Finally, StockNews.com upgraded Barnes Group from a “sell” rating to a “hold” rating in a research report on Monday, February 19th.

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.