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

Arizona State Retirement System trimmed its holdings in Barnes Group Inc. (NYSE:B) by 3.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in B. Norges Bank purchased a new stake in Barnes Group in the 4th quarter valued at $10,871,000. Invenomic Capital Management LP purchased a new stake in shares of Barnes Group in the fourth quarter valued at about $7,759,000. Vanguard Group Inc. lifted its position in shares of Barnes Group by 3.8% during the first 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 in the last quarter. Kennedy Capital Management LLC boosted its holdings in Barnes Group by 10.7% during the first 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. Finally, Russell Investments Group Ltd. grew its position 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 worth $14,242,000 after purchasing an additional 69,097 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Barnes Group Trading Down 1.1 %

Shares of B stock opened at $37.74 on Tuesday. The company has a 50 day moving average of $39.30 and a 200-day moving average of $38.30. The company has a quick ratio of 1.33, a current ratio of 2.24 and a debt-to-equity ratio of 0.90. Barnes Group Inc. has a 12-month low of $18.79 and a 12-month high of $45.24. The firm has a market cap of $1.91 billion, a P/E ratio of 419.33, a PEG ratio of 2.14 and a beta of 1.39.

Barnes Group (NYSE:B) last issued its quarterly earnings results on Friday, July 26th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). Barnes Group had a positive return on equity of 5.21% and a negative net margin of 3.74%. The company had revenue of $382.23 million for the quarter, compared to analysts’ expectations of $398.80 million. Sell-side analysts anticipate that Barnes Group Inc. will post 1.62 earnings per share for the current year.

Barnes Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 22nd were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.64 annualized dividend and a dividend yield of 1.70%. Barnes Group’s payout ratio is currently 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.