PNC Financial Services Group Inc. Has $399,000 Stock Position in Barnes Group Inc. (NYSE:B)

PNC Financial Services Group Inc. lessened its holdings in Barnes Group Inc. (NYSE:B) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,238 shares of the industrial products company’s stock after selling 1,004 shares during the period. PNC Financial Services Group Inc.’s holdings in Barnes Group were worth $399,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Parallel Advisors LLC raised its position in shares of Barnes Group by 418.3% in the fourth quarter. Parallel Advisors LLC now owns 1,218 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 983 shares during the period. CWM LLC lifted its position in Barnes Group by 470.7% during the 4th quarter. CWM LLC now owns 2,100 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 1,732 shares during the last quarter. GAMMA Investing LLC bought a new stake in Barnes Group during the fourth quarter valued at about $58,000. New York State Teachers Retirement System grew its position in shares of Barnes Group by 2.3% in the fourth quarter. New York State Teachers Retirement System now owns 80,466 shares of the industrial products company’s stock valued at $2,626,000 after purchasing an additional 1,839 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Barnes Group by 20.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,633 shares of the industrial products company’s stock worth $412,000 after purchasing an additional 2,169 shares during the period. 90.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on B. DA Davidson increased their target price on Barnes Group from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Oppenheimer increased their price objective on Barnes Group from $43.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, June 14th.

Barnes Group Stock Down 0.9 %

NYSE B opened at $41.39 on Friday. Barnes Group Inc. has a twelve month low of $18.79 and a twelve month high of $43.65. The stock has a market cap of $2.10 billion, a PE ratio of 459.89, a PEG ratio of 2.43 and a beta of 1.40. The firm has a 50-day simple moving average of $38.57 and a 200 day simple moving average of $35.64. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.53 and a current ratio of 2.41.

Barnes Group (NYSE:B) last issued its earnings results on Friday, April 26th. The industrial products company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.35 by $0.03. Barnes Group had a return on equity of 5.92% and a net margin of 0.31%. The firm had revenue of $430.64 million during the quarter, compared to analysts’ expectations of $425.32 million. On average, research analysts forecast that Barnes Group Inc. will post 1.73 EPS for the current year.

Barnes Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Wednesday, May 29th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $0.64 annualized dividend and a dividend yield of 1.55%. Barnes Group’s dividend payout ratio (DPR) is presently 711.11%.

Barnes Group Company 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.