BlackRock Inc. Has $224.63 Million Stock Position in Barnes Group Inc. (NYSE:B)

BlackRock Inc. raised its stake in Barnes Group Inc. (NYSE:B – Get Rating) by 3.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,778,194 shares of the industrial products company’s stock after acquiring an additional 289,461 shares during the quarter. BlackRock Inc. owned about 0.15% of Barnes Group worth $224,632,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Thrivent Financial for Lutherans raised its holdings 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 purchasing an additional 1,154,040 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of Barnes Group by 12.2% during the second quarter. Macquarie Group Ltd. now owns 2,670,789 shares of the industrial products company’s stock worth $83,168,000 after buying an additional 289,823 shares during the last quarter. Invesco Ltd. lifted its holdings in Barnes Group by 109.9% in the first quarter. Invesco Ltd. now owns 310,724 shares of the industrial products company’s stock valued at $12,488,000 after buying an additional 162,693 shares during the period. Dimensional Fund Advisors LP boosted its stake in Barnes Group by 4.8% in the third quarter. Dimensional Fund Advisors LP now owns 3,238,684 shares of the industrial products company’s stock valued at $93,533,000 after acquiring an additional 149,270 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Barnes Group by 688.8% during the 3rd quarter. Victory Capital Management Inc. now owns 134,723 shares of the industrial products company’s stock worth $3,891,000 after acquiring an additional 117,644 shares during the period. 86.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

B has been the topic of several recent research reports. Oppenheimer raised 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 Monday, March 6th. Finally, Truist Financial increased their price target on shares of Barnes Group from $37.00 to $40.00 and gave the company a “hold” rating in a research report on Tuesday, February 21st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Barnes Group presently has an average rating of “Hold” and a consensus price target of $41.50.

Barnes Group Stock Down 1.5 %

Shares of Barnes Group stock opened at $38.06 on Tuesday. The company has a market capitalization of $1.93 billion, a P/E ratio of 152.24, a price-to-earnings-growth ratio of 1.80 and a beta of 1.24. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.40 and a quick ratio of 1.47. The business has a 50-day moving average of $43.15 and a two-hundred day moving average of $38.20. Barnes Group Inc. has a 1 year low of $27.93 and a 1 year high of $47.36.

Barnes Group (NYSE:B – Get Rating) last posted its earnings results on Friday, February 17th. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. Barnes Group had a return on equity of 7.62% and a net margin of 1.07%. The business had revenue of $313.50 million during the quarter, compared to analysts’ expectations of $322.70 million. During the same period in the prior year, the business earned $0.55 EPS. Barnes Group’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities analysts predict that Barnes Group Inc. will post 2.15 EPS for the current year.

Barnes Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Thursday, February 23rd were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Wednesday, February 22nd. Barnes Group’s payout ratio is presently 256.00%.

Barnes Group Profile

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Barnes Group, Inc engages in the provision of engineered products, industrial technologies, and solutions. It operates through the Industrial and Aerospace segments. The Industrial segment includes molding solutions, force and motion control, and the automation and engineered components business units.