Barnes Group Inc. (NYSE:B) Short Interest Update

Barnes Group Inc. (NYSE:B) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 425,800 shares, an increase of 16.9% from the August 15th total of 364,300 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average daily trading volume, of 199,000 shares, the short-interest ratio is currently 2.1 days.

Institutional Trading of Barnes Group

Large investors have recently bought and sold shares of the stock. Virginia Retirement Systems ET AL acquired a new stake in Barnes Group during the 2nd quarter worth $2,396,000. Teachers Retirement System of The State of Kentucky grew its stake in shares of Barnes Group by 6.1% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 15,323 shares of the industrial products company’s stock valued at $647,000 after buying an additional 886 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Barnes Group by 56.0% in the second quarter. Nuveen Asset Management LLC now owns 349,731 shares of the industrial products company’s stock valued at $14,755,000 after buying an additional 125,590 shares during the last quarter. Resources Management Corp CT ADV grew its stake in Barnes Group by 388.9% in the 2nd quarter. Resources Management Corp CT ADV now owns 4,400 shares of the industrial products company’s stock valued at $186,000 after buying an additional 3,500 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Barnes Group by 17.3% in the second quarter. Wells Fargo & Company MN now owns 62,279 shares of the industrial products company’s stock valued at $2,628,000 after acquiring an additional 9,182 shares during the period. 86.03% of the stock is currently owned by institutional investors.

Barnes Group Stock Down 0.1 %

Shares of B stock opened at $36.30 on Tuesday. Barnes Group has a one year low of $27.93 and a one year high of $47.36. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.29 and a quick ratio of 1.41. The stock has a fifty day moving average price of $39.14 and a 200 day moving average price of $39.95. The stock has a market cap of $1.84 billion, a P/E ratio of 29.51, a price-to-earnings-growth ratio of 1.65 and a beta of 1.20.

Barnes Group (NYSE:B) last released its quarterly earnings data on Friday, July 28th. The industrial products company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. Barnes Group had a net margin of 4.84% and a return on equity of 7.92%. The company had revenue of $339.00 million during the quarter, compared to the consensus estimate of $340.43 million. During the same period last year, the firm earned $0.56 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. Analysts predict that Barnes Group will post 2.2 earnings per share for the current year.

Barnes Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Thursday, August 24th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.64 annualized dividend and a dividend yield of 1.76%. Barnes Group’s dividend payout ratio (DPR) is presently 52.03%.

Analyst Upgrades and Downgrades

B has been the subject of several research analyst reports. Truist Financial upped their target price on shares of Barnes Group from $38.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, July 21st. StockNews.com started coverage on shares of Barnes Group in a research note on Thursday, August 17th. They issued a “buy” rating for the company.

Barnes Group Company Profile

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.