Envestnet Asset Management Inc. Has $1.75 Million Stock Position in Barnes Group Inc. (NYSE:B)

Envestnet Asset Management Inc. trimmed its position in Barnes Group Inc. (NYSE:BGet Rating) by 1.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,162 shares of the industrial products company’s stock after selling 1,001 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Barnes Group were worth $1,749,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in B. First Horizon Advisors Inc. acquired a new stake in shares of Barnes Group during the second quarter worth approximately $33,000. Maryland State Retirement & Pension System boosted its holdings in shares of Barnes Group by 2.0% during the second quarter. Maryland State Retirement & Pension System now owns 19,049 shares of the industrial products company’s stock worth $593,000 after purchasing an additional 372 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Barnes Group during the second quarter worth approximately $554,000. Russell Investments Group Ltd. boosted its holdings in shares of Barnes Group by 24.5% during the second quarter. Russell Investments Group Ltd. now owns 119,851 shares of the industrial products company’s stock worth $3,731,000 after purchasing an additional 23,591 shares during the period. Finally, WFA of San Diego LLC acquired a new stake in shares of Barnes Group during the second quarter worth approximately $36,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Julie K. Streich bought 8,100 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The shares were acquired at an average price of $37.56 per share, with a total value of $304,236.00. Following the completion of the transaction, the chief financial officer now owns 16,475 shares of the company’s stock, valued at approximately $618,801. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Julie K. Streich bought 8,100 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The shares were acquired at an average price of $37.56 per share, with a total value of $304,236.00. Following the completion of the transaction, the chief financial officer now owns 16,475 shares of the company’s stock, valued at approximately $618,801. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Elijah Kent Barnes bought 3,330 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The shares were bought at an average cost of $38.00 per share, for a total transaction of $126,540.00. Following the transaction, the director now directly owns 45,945 shares of the company’s stock, valued at approximately $1,745,910. The disclosure for this purchase can be found here. Insiders have bought a total of 75,196 shares of company stock valued at $2,806,467 over the last 90 days. 5.10% of the stock is currently owned by company insiders.

Barnes Group Price Performance

Shares of B opened at $39.23 on Friday. The firm has a market cap of $1.98 billion, a PE ratio of 78.46, a PEG ratio of 2.01 and a beta of 1.21. The firm’s 50 day moving average price is $33.47 and its 200 day moving average price is $33.24. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.46 and a current ratio of 2.40. Barnes Group Inc. has a twelve month low of $27.93 and a twelve month high of $48.79.

Barnes Group (NYSE:BGet Rating) last released its quarterly earnings results on Friday, October 28th. The industrial products company reported $0.49 EPS for the quarter, meeting analysts’ consensus estimates of $0.49. Barnes Group had a net margin of 2.07% and a return on equity of 7.61%. The company had revenue of $314.70 million for the quarter, compared to analyst estimates of $324.93 million. During the same quarter last year, the firm posted $0.55 earnings per share. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, research analysts expect that Barnes Group Inc. will post 1.94 EPS for the current fiscal year.

Barnes Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Tuesday, November 22nd will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Monday, November 21st. Barnes Group’s dividend payout ratio is 128.00%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wolfe Research assumed coverage on shares of Barnes Group in a report on Monday, October 10th. They set a “peer perform” rating for the company. Truist Financial decreased their price target on shares of Barnes Group from $33.00 to $29.00 in a report on Wednesday, October 12th. StockNews.com lowered shares of Barnes Group from a “buy” rating to a “hold” rating in a research report on Saturday, October 8th. Finally, DA Davidson cut their price objective on shares of Barnes Group to $36.00 in a research report on Tuesday, August 9th.

About Barnes Group

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Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. It operates in 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.

See Also

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Institutional Ownership by Quarter for Barnes Group (NYSE:B)

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