Bank of New York Mellon Corp Purchases 2,942 Shares of Barnes Group Inc. (NYSE:B)

Bank of New York Mellon Corp boosted its stake in Barnes Group Inc. (NYSE:B) by 0.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 391,181 shares of the industrial products company’s stock after acquiring an additional 2,942 shares during the quarter. Bank of New York Mellon Corp owned 0.77% of Barnes Group worth $16,199,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in B. Norges Bank bought a new stake in Barnes Group in the 4th quarter valued at $10,871,000. Invenomic Capital Management LP bought a new stake in Barnes Group during the 4th quarter worth about $7,759,000. Vanguard Group Inc. lifted its position in 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 worth $211,366,000 after buying an additional 206,351 shares in the last quarter. Roubaix Capital LLC bought a new stake in Barnes Group during the 4th quarter worth about $4,123,000. Finally, First Eagle Investment Management LLC lifted its position in Barnes Group by 31.8% during the 4th quarter. First Eagle Investment Management LLC now owns 414,301 shares of the industrial products company’s stock worth $13,519,000 after buying an additional 99,957 shares in the last quarter. 90.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

B has been the topic of several analyst reports. Oppenheimer boosted their price target on shares of Barnes Group from $43.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. Truist Financial boosted their price target on shares of Barnes Group from $34.00 to $38.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Finally, DA Davidson boosted their price target on shares of Barnes Group from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, July 29th.

Barnes Group Stock Down 2.7 %

Barnes Group stock opened at $36.65 on Friday. The firm has a market capitalization of $1.86 billion, a PE ratio of 407.22, a P/E/G ratio of 2.47 and a beta of 1.39. The company’s 50-day moving average is $39.80 and its 200-day moving average is $38.25. Barnes Group Inc. has a fifty-two week low of $18.79 and a fifty-two week high of $45.24. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.24 and a quick ratio of 1.33.

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). The firm had revenue of $382.23 million for the quarter, compared to analyst estimates of $398.80 million. Barnes Group had a positive return on equity of 5.21% and a negative net margin of 3.74%. Sell-side analysts anticipate that Barnes Group Inc. will post 1.62 earnings per share for the current year.

Barnes Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 22nd will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.64 dividend on an annualized basis and a yield of 1.75%. Barnes Group’s dividend payout ratio (DPR) is currently 711.11%.

Barnes Group 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.