Texas Permanent School Fund Acquires 692 Shares of Barnes Group Inc. (NYSE:B)

Texas Permanent School Fund increased its holdings in Barnes Group Inc. (NYSE:BGet Rating) by 2.1% in the 2nd quarter, Holdings Channel reports. The fund owned 33,713 shares of the industrial products company’s stock after buying an additional 692 shares during the quarter. Texas Permanent School Fund’s holdings in Barnes Group were worth $1,050,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. BlackRock Inc. increased its stake in shares of Barnes Group by 0.3% in the 1st quarter. BlackRock Inc. now owns 7,419,756 shares of the industrial products company’s stock worth $298,200,000 after acquiring an additional 25,613 shares in the last quarter. Vanguard Group Inc. grew its position in Barnes Group by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 5,130,453 shares of the industrial products company’s stock valued at $206,193,000 after purchasing an additional 58,164 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Barnes Group by 2.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,986,924 shares of the industrial products company’s stock valued at $120,046,000 after purchasing an additional 65,518 shares during the last quarter. State Street Corp grew its position in Barnes Group by 5.0% during the 1st quarter. State Street Corp now owns 1,771,179 shares of the industrial products company’s stock valued at $71,184,000 after purchasing an additional 83,652 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Barnes Group by 5.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 561,585 shares of the industrial products company’s stock valued at $22,570,000 after purchasing an additional 30,767 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Barnes Group Stock Up 0.7 %

NYSE B opened at $39.23 on Friday. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 78.46, a PEG ratio of 2.01 and a beta of 1.21. Barnes Group Inc. has a 52 week low of $27.93 and a 52 week high of $48.79. The company has a quick ratio of 1.46, a current ratio of 2.40 and a debt-to-equity ratio of 0.44. The company has a fifty day moving average of $33.47 and a two-hundred day moving average of $33.24.

Barnes Group (NYSE:BGet Rating) last released its quarterly earnings data on Friday, October 28th. The industrial products company reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. The firm had revenue of $314.70 million during the quarter, compared to the consensus estimate of $324.93 million. Barnes Group had a return on equity of 7.61% and a net margin of 2.07%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. On average, analysts predict that Barnes Group Inc. will post 1.94 earnings per share for the current year.

Barnes Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Tuesday, November 22nd will be issued a dividend of $0.16 per share. The ex-dividend date is Monday, November 21st. This represents a $0.64 annualized dividend and a dividend yield of 1.63%. Barnes Group’s dividend payout ratio (DPR) is currently 128.00%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Barnes Group

In other Barnes Group news, Director Richard J. Hipple bought 1,200 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The shares were purchased at an average price of $35.81 per share, for a total transaction of $42,972.00. Following the transaction, the director now directly owns 15,071 shares of the company’s stock, valued at approximately $539,692.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Richard J. Hipple bought 1,200 shares of the business’s stock in a transaction on Tuesday, November 1st. The stock was acquired at an average cost of $35.81 per share, with a total value of $42,972.00. Following the purchase, the director now directly owns 15,071 shares of the company’s stock, valued at $539,692.51. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Thomas J. Hook purchased 35,000 shares of the stock in a transaction dated Monday, November 7th. The shares were acquired at an average price of $38.09 per share, with a total value of $1,333,150.00. Following the completion of the acquisition, the chief executive officer now owns 75,613 shares in the company, valued at approximately $2,880,099.17. The disclosure for this purchase can be found here. Insiders have bought a total of 75,196 shares of company stock worth $2,806,467 over the last quarter. Insiders own 5.10% of the company’s stock.

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.

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

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