The Manufacturers Life Insurance Company Sells 700 Shares of Barnes Group Inc. (NYSE:B)

The Manufacturers Life Insurance Company decreased its holdings in Barnes Group Inc. (NYSE:B) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,589 shares of the industrial products company’s stock after selling 700 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Barnes Group were worth $1,101,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of 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. Dimensional Fund Advisors LP increased its stake in shares of Barnes Group by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,587,611 shares of the industrial products company’s stock worth $148,565,000 after purchasing an additional 60,152 shares during the last quarter. Mason Capital Management LLC increased its stake in shares of Barnes Group by 32.9% during the 2nd quarter. Mason Capital Management LLC now owns 1,050,079 shares of the industrial products company’s stock worth $43,484,000 after purchasing an additional 259,957 shares during the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of Barnes Group during the 2nd quarter worth approximately $32,576,000. Finally, Kennedy Capital Management LLC increased its stake in shares of Barnes Group by 10.7% during the 1st quarter. Kennedy Capital Management LLC now owns 753,625 shares of the industrial products company’s stock worth $27,997,000 after purchasing an additional 72,546 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.

Barnes Group Stock Up 0.1 %

Barnes Group stock opened at $46.65 on Friday. Barnes Group Inc. has a 1-year low of $18.79 and a 1-year high of $46.70. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of -40.22, a P/E/G ratio of 2.87 and a beta of 1.38. The company has a current ratio of 2.24, a quick ratio of 1.33 and a debt-to-equity ratio of 0.90. The firm has a 50 day simple moving average of $39.33 and a 200 day simple moving average of $38.94.

Barnes Group (NYSE:B) last announced its quarterly earnings results on Friday, July 26th. The industrial products company reported $0.37 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $382.23 million during the quarter, compared to the consensus estimate of $398.80 million. On average, analysts predict that Barnes Group Inc. will post 1.62 earnings per share for the current year.

Barnes Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 22nd were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Thursday, August 22nd. Barnes Group’s payout ratio is -55.17%.

Analyst Ratings Changes

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

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.