Thrivent Financial for Lutherans Trims Stock Holdings in Barnes Group Inc. (NYSE:B)

Thrivent Financial for Lutherans trimmed its position in Barnes Group Inc. (NYSE:B) by 2.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 612,598 shares of the industrial products company’s stock after selling 17,044 shares during the period. Thrivent Financial for Lutherans owned 1.21% of Barnes Group worth $25,368,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Parallel Advisors LLC boosted its holdings in Barnes Group by 418.3% in the fourth quarter. Parallel Advisors LLC now owns 1,218 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 983 shares in the last quarter. EntryPoint Capital LLC bought a new position in Barnes Group in the first quarter valued at about $107,000. TFO Wealth Partners LLC lifted its holdings in Barnes Group by 57,362.5% in the fourth quarter. TFO Wealth Partners LLC now owns 4,597 shares of the industrial products company’s stock valued at $150,000 after acquiring an additional 4,589 shares during the period. SG Americas Securities LLC purchased a new stake in Barnes Group in the first quarter worth about $208,000. Finally, QRG Capital Management Inc. bought a new position in shares of Barnes Group in the first quarter worth about $217,000. 90.82% of the stock is owned by institutional investors.

Barnes Group Stock Down 0.2 %

Shares of B opened at $39.38 on Tuesday. The business’s 50 day moving average is $39.07 and its 200 day moving average is $38.41. The company has a market capitalization of $2.00 billion, a PE ratio of 437.56, a price-to-earnings-growth ratio of 2.14 and a beta of 1.39. Barnes Group Inc. has a 12-month low of $18.79 and a 12-month high of $45.24. 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 (NYSE:B) last issued its 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). The business had revenue of $382.23 million for the quarter, compared to the consensus estimate of $398.80 million. Barnes Group had a negative net margin of 3.74% and a positive return on equity of 5.21%. Research analysts expect that Barnes Group Inc. will post 1.62 earnings per share for the current fiscal year.

Barnes Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 22nd were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Thursday, August 22nd. Barnes Group’s dividend payout ratio (DPR) is presently 711.11%.

Analyst Ratings Changes

Several research analysts have recently commented on B shares. Truist Financial raised their price objective on Barnes Group from $34.00 to $38.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. DA Davidson raised their price objective on Barnes Group from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Oppenheimer raised their price objective 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 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.