Public Sector Pension Investment Board Acquires 7,671 Shares of Barnes Group Inc. (NYSE:B)

Public Sector Pension Investment Board increased its holdings in shares of Barnes Group Inc. (NYSE:B) by 7.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 111,541 shares of the industrial products company’s stock after purchasing an additional 7,671 shares during the period. Public Sector Pension Investment Board’s holdings in Barnes Group were worth $4,619,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Gabelli Funds LLC bought a new stake in Barnes Group in the 2nd quarter valued at $538,000. Westwood Holdings Group Inc. acquired a new stake in shares of Barnes Group in the 2nd quarter valued at about $32,576,000. Sei Investments Co. lifted its holdings in shares of Barnes Group by 3.0% in the second quarter. Sei Investments Co. now owns 327,984 shares of the industrial products company’s stock valued at $13,582,000 after purchasing an additional 9,609 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Barnes Group during the second quarter worth about $277,000. Finally, Moors & Cabot Inc. grew its holdings in shares of Barnes Group by 14.4% during the second quarter. Moors & Cabot Inc. now owns 9,434 shares of the industrial products company’s stock worth $391,000 after buying an additional 1,184 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Barnes Group Stock Performance

B opened at $39.49 on Friday. The business’s 50-day simple moving average is $38.83 and its 200 day simple moving average is $38.44. Barnes Group Inc. has a 52-week low of $18.79 and a 52-week high of $45.24. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.33 and a current ratio of 2.24. The firm has a market capitalization of $2.00 billion, a PE ratio of 438.78, a PEG ratio of 2.43 and a beta of 1.39.

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

Barnes Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 22nd were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Thursday, August 22nd. Barnes Group’s dividend payout ratio (DPR) is presently 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.