Arizona State Retirement System Sells 457 Shares of Barnes Group Inc. (NYSE:B)

Arizona State Retirement System cut its holdings in Barnes Group Inc. (NYSE:B) by 3.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,773 shares of the industrial products company’s stock after selling 457 shares during the period. Arizona State Retirement System’s holdings in Barnes Group were worth $529,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Barnes Group by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 5,689,535 shares of the industrial products company’s stock valued at $211,366,000 after purchasing an additional 206,351 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Barnes Group by 8.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 771,557 shares of the industrial products company’s stock valued at $25,176,000 after purchasing an additional 62,823 shares during the period. Kennedy Capital Management LLC boosted its holdings in Barnes Group by 10.7% in the 1st quarter. Kennedy Capital Management LLC now owns 753,625 shares of the industrial products company’s stock valued at $27,997,000 after purchasing an additional 72,546 shares during the period. Bank of New York Mellon Corp boosted its holdings in Barnes Group by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 391,181 shares of the industrial products company’s stock valued at $16,199,000 after purchasing an additional 2,942 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Barnes Group by 22.0% in the 1st quarter. Russell Investments Group Ltd. now owns 383,359 shares of the industrial products company’s stock valued at $14,242,000 after purchasing an additional 69,097 shares during the period. 90.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on B. DA Davidson raised their price target on shares of Barnes Group from $48.00 to $52.00 and gave the company a “buy” rating in a report on Monday, July 29th. Truist Financial raised their price target on shares of Barnes Group from $34.00 to $38.00 and gave the company a “hold” rating in a report on Monday, July 29th. Finally, Oppenheimer lifted their price objective on shares of Barnes Group from $43.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, June 14th.

Barnes Group Stock Performance

NYSE B opened at $37.74 on Tuesday. 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 company has a market capitalization of $1.91 billion, a P/E ratio of 419.33, a P/E/G ratio of 2.14 and a beta of 1.39. The company has a fifty day moving average of $39.30 and a 200-day moving average of $38.30.

Barnes Group (NYSE:B) last posted 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). The company had revenue of $382.23 million for the quarter, compared to the consensus estimate of $398.80 million. Barnes Group had a positive return on equity of 5.21% and a negative net margin of 3.74%. As a group, equities research analysts predict that Barnes Group Inc. will post 1.62 EPS for the current fiscal year.

Barnes Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 22nd were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Thursday, August 22nd. Barnes Group’s payout ratio 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.