Handelsbanken Fonder AB Raises Stock Position in Barnes Group Inc. (NYSE:B)

Handelsbanken Fonder AB increased its holdings in shares of Barnes Group Inc. (NYSE:B) by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,355 shares of the industrial products company’s stock after purchasing an additional 500 shares during the quarter. Handelsbanken Fonder AB’s holdings in Barnes Group were worth $418,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in B. SG Americas Securities LLC purchased a new position in Barnes Group during the third quarter valued at $178,000. William B. Walkup & Associates Inc. purchased a new position in shares of Barnes Group during the second quarter valued at about $714,000. Creative Planning increased its holdings in shares of Barnes Group by 13.8% in the second quarter. Creative Planning now owns 25,423 shares of the industrial products company’s stock worth $1,053,000 after purchasing an additional 3,089 shares during the last quarter. AYAL Capital Advisors Ltd bought a new position in Barnes Group during the second quarter valued at approximately $12,166,000. Finally, Mason Capital Management LLC grew its holdings in 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 valued at $43,484,000 after buying an additional 259,957 shares in the last quarter. Institutional investors own 90.82% of the company’s stock.

Barnes Group Stock Performance

Shares of Barnes Group stock opened at $46.64 on Tuesday. 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 stock’s fifty day moving average price is $39.52 and its 200-day moving average price is $39.02. The firm has a market cap of $2.36 billion, a P/E ratio of 518.22, a P/E/G ratio of 2.87 and a beta of 1.38. Barnes Group Inc. has a 12 month low of $18.79 and a 12 month high of $46.71.

Barnes Group (NYSE:B) last posted 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 business had revenue of $382.23 million during the quarter, compared to the consensus estimate of $398.80 million. On average, equities research analysts expect that Barnes Group Inc. will post 1.62 earnings per share for the current fiscal year.

Barnes Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 22nd were paid a $0.16 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $0.64 annualized dividend and a yield of 1.37%. Barnes Group’s dividend payout ratio (DPR) is presently 711.11%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on B. StockNews.com downgraded Barnes Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 8th. Truist Financial increased their target price 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. Finally, DA Davidson restated a “neutral” rating and set a $47.50 price objective (down previously from $52.00) on shares of Barnes Group in a report on Monday, October 7th.

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.