GAMMA Investing LLC Raises Position in Barnes Group Inc. (NYSE:B)

GAMMA Investing LLC boosted its holdings in Barnes Group Inc. (NYSE:B) by 17.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,630 shares of the industrial products company’s stock after purchasing an additional 238 shares during the quarter. GAMMA Investing LLC’s holdings in Barnes Group were worth $66,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Westwood Holdings Group Inc. acquired a new position in shares of Barnes Group in the 2nd quarter valued at $32,576,000. AYAL Capital Advisors Ltd acquired a new position in Barnes Group in the second quarter valued at $12,166,000. Mason Capital Management LLC grew its position in Barnes Group by 32.9% during the second quarter. Mason Capital Management LLC now owns 1,050,079 shares of the industrial products company’s stock valued at $43,484,000 after acquiring an additional 259,957 shares during the period. Vanguard Group Inc. increased its stake in 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 worth $211,366,000 after acquiring an additional 206,351 shares during the last quarter. Finally, Kennedy Capital Management LLC raised its holdings in shares of Barnes Group by 10.7% in the 1st 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 period. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on B. StockNews.com downgraded shares of Barnes Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th. DA Davidson reaffirmed a “neutral” rating and issued a $47.50 target price (down previously from $52.00) on shares of Barnes Group in a research report on Monday, October 7th. Finally, Truist Financial boosted their target price on shares of Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a research report on Tuesday, October 8th.

Barnes Group Stock Performance

B opened at $46.54 on Wednesday. Barnes Group Inc. has a 1-year low of $18.79 and a 1-year high of $46.72. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 517.06, a price-to-earnings-growth ratio of 2.87 and a beta of 1.38. The business has a 50 day moving average price of $39.71 and a two-hundred day moving average price of $39.09. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.24 and a quick ratio of 1.33.

Barnes Group (NYSE:B) last posted its quarterly earnings data on Friday, July 26th. The industrial products company reported $0.37 earnings per share 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 for the quarter, compared to the consensus estimate of $398.80 million. Research analysts predict that Barnes Group Inc. will post 1.62 EPS for the current fiscal year.

Barnes Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.38%. Barnes Group’s dividend payout ratio is currently 711.11%.

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.