GAMMA Investing LLC Has $66,000 Stake in Barnes Group Inc. (NYSE:B)

GAMMA Investing LLC increased its position in Barnes Group Inc. (NYSE:B) by 17.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,630 shares of the industrial products company’s stock after acquiring an additional 238 shares during the period. GAMMA Investing LLC’s holdings in Barnes Group were worth $66,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new position in Barnes Group during the first quarter valued at about $107,000. SG Americas Securities LLC acquired a new stake in Barnes Group in the 3rd quarter worth approximately $178,000. QRG Capital Management Inc. bought a new stake in Barnes Group during the first quarter worth approximately $217,000. Intech Investment Management LLC bought a new stake in Barnes Group during the second quarter worth approximately $277,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of Barnes Group in the first quarter valued at approximately $253,000. Institutional investors own 90.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on B. Truist Financial upped their price objective on shares of Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a report on Tuesday, October 8th. DA Davidson restated a “neutral” rating and set a $47.50 price target (down from $52.00) on shares of Barnes Group in a report on Monday, October 7th. Finally, StockNews.com lowered Barnes Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th.

Barnes Group Trading Down 0.2 %

Shares of B stock opened at $46.54 on Wednesday. The company has a current ratio of 2.24, a quick ratio of 1.33 and a debt-to-equity ratio of 0.90. Barnes Group Inc. has a 1 year low of $18.79 and a 1 year high of $46.72. The firm’s fifty day simple moving average is $39.71 and its 200 day simple moving average is $39.09. The firm has a market capitalization of $2.36 billion, a P/E ratio of 517.06, a price-to-earnings-growth ratio of 2.87 and a beta of 1.38.

Barnes Group (NYSE:B) last announced its quarterly earnings data on Friday, July 26th. The industrial products company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $382.23 million for the quarter, compared to analyst estimates of $398.80 million. As a group, sell-side analysts predict that Barnes Group Inc. will post 1.62 EPS for the current 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 dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Thursday, August 22nd. Barnes Group’s dividend payout ratio is presently 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.