Barnes Group Inc. (NYSE:B) Stake Reduced by Comerica Bank

Comerica Bank reduced its stake in shares of Barnes Group Inc. (NYSE:BGet Rating) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,256 shares of the industrial products company’s stock after selling 1,085 shares during the quarter. Comerica Bank’s holdings in Barnes Group were worth $1,309,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Barnes Group by 0.3% during the 1st quarter. BlackRock Inc. now owns 7,419,756 shares of the industrial products company’s stock worth $298,200,000 after buying an additional 25,613 shares during the last quarter. Vanguard Group Inc. boosted 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 worth $206,193,000 after acquiring an additional 58,164 shares during the period. Macquarie Group Ltd. boosted its position in Barnes Group by 12.2% during the 2nd quarter. Macquarie Group Ltd. now owns 2,670,789 shares of the industrial products company’s stock worth $83,168,000 after acquiring an additional 289,823 shares during the period. State Street Corp boosted 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 worth $71,184,000 after acquiring an additional 83,652 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in Barnes Group by 1,923.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,214,047 shares of the industrial products company’s stock worth $37,805,000 after acquiring an additional 1,154,040 shares during the period. 86.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

B has been the subject of a number of analyst reports. Oppenheimer boosted their price target on Barnes Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 29th. StockNews.com upgraded Barnes Group from a “hold” rating to a “buy” rating in a research report on Wednesday, January 18th. Truist Financial upped their price objective on Barnes Group from $29.00 to $37.00 in a report on Monday, January 9th. Finally, Wolfe Research initiated coverage on Barnes Group in a report on Monday, October 10th. They issued a “peer perform” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Barnes Group has an average rating of “Hold” and an average target price of $40.75.

Insider Transactions at Barnes Group

In related news, Director Richard J. Hipple bought 1,200 shares of the business’s stock in a transaction dated Tuesday, November 1st. The shares were bought at an average cost of $35.81 per share, with a total value of $42,972.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available through this hyperlink. In other Barnes Group news, CEO Thomas J. Hook purchased 27,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The shares were purchased at an average cost of $36.27 per share, with a total value of $997,425.00. Following the completion of the transaction, the chief executive officer now owns 40,613 shares of the company’s stock, valued at $1,473,033.51. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard J. Hipple purchased 1,200 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The shares were acquired at an average cost of $35.81 per share, for a total transaction of $42,972.00. Following the completion of the transaction, the director now directly owns 15,071 shares of the company’s stock, valued at approximately $539,692.51. The disclosure for this purchase can be found here. Insiders have purchased 75,177 shares of company stock valued at $2,806,235 over the last three months. Company insiders own 5.10% of the company’s stock.

Barnes Group Trading Down 0.4 %

Shares of Barnes Group stock opened at $42.95 on Tuesday. 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 firm has a market cap of $2.17 billion, a price-to-earnings ratio of 85.90, a price-to-earnings-growth ratio of 2.02 and a beta of 1.23. The business has a fifty day simple moving average of $41.08 and a 200-day simple moving average of $35.76. Barnes Group Inc. has a fifty-two week low of $27.93 and a fifty-two week high of $48.42.

Barnes Group (NYSE:BGet Rating) last announced its earnings results on Friday, October 28th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The company had revenue of $314.70 million for the quarter, compared to analyst estimates of $324.93 million. Barnes Group had a return on equity of 7.61% and a net margin of 2.07%. Barnes Group’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.55 earnings per share. On average, equities analysts forecast that Barnes Group Inc. will post 1.94 EPS for the current fiscal year.

Barnes Group Profile

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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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