Barnes Group Inc. (NYSE:B) Shares Purchased by Moors & Cabot Inc.

Moors & Cabot Inc. raised its stake in Barnes Group Inc. (NYSE:B) by 14.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,434 shares of the industrial products company’s stock after acquiring an additional 1,184 shares during the quarter. Moors & Cabot Inc.’s holdings in Barnes Group were worth $391,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Parallel Advisors LLC increased 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 buying an additional 983 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Barnes Group in the 1st quarter worth $107,000. TFO Wealth Partners LLC raised its position in Barnes Group by 57,362.5% during the fourth quarter. TFO Wealth Partners LLC now owns 4,597 shares of the industrial products company’s stock worth $150,000 after acquiring an additional 4,589 shares during the period. SG Americas Securities LLC purchased a new position in Barnes Group during the first quarter valued at $208,000. Finally, QRG Capital Management Inc. acquired a new stake in shares of Barnes Group in the first quarter valued at about $217,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Wall Street Analyst Weigh In

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

Barnes Group Stock Performance

B opened at $39.71 on Friday. The firm has a market capitalization of $2.01 billion, a PE ratio of 435.00, a PEG ratio of 2.14 and a beta of 1.39. The company has a current ratio of 2.24, a quick ratio of 1.33 and a debt-to-equity ratio of 0.90. Barnes Group Inc. has a twelve month low of $18.79 and a twelve month high of $45.24. The firm’s 50-day moving average price is $39.22 and its 200 day moving average price is $38.33.

Barnes Group (NYSE:B) last announced its quarterly earnings data on Friday, July 26th. The industrial products company reported $0.37 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 analysts’ expectations 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, sell-side analysts expect that Barnes Group Inc. will post 1.62 EPS for the current fiscal year.

Barnes Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 22nd were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Thursday, August 22nd. Barnes Group’s payout ratio is currently 711.11%.

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.