Gabelli Funds LLC acquired a new position in shares of Barnes Group Inc. (NYSE:B – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 13,000 shares of the industrial products company’s stock, valued at approximately $538,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in Barnes Group in the fourth quarter valued at approximately $10,871,000. US Bancorp DE increased its holdings in shares of Barnes Group by 175.1% in the fourth quarter. US Bancorp DE now owns 18,956 shares of the industrial products company’s stock worth $619,000 after acquiring an additional 12,066 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Barnes Group by 418.3% during the 4th quarter. Parallel Advisors LLC now owns 1,218 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 983 shares in the last quarter. TFO Wealth Partners LLC grew its position in shares of Barnes Group by 57,362.5% in the 4th quarter. TFO Wealth Partners LLC now owns 4,597 shares of the industrial products company’s stock valued at $150,000 after purchasing an additional 4,589 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Barnes Group in the 4th quarter valued at approximately $1,674,000. Institutional investors own 90.82% of the company’s stock.
Barnes Group Stock Performance
Shares of Barnes Group stock opened at $39.49 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.24 and a quick ratio of 1.33. Barnes Group Inc. has a fifty-two week low of $18.79 and a fifty-two week high of $45.24. The firm has a market capitalization of $2.00 billion, a P/E ratio of 438.78, a P/E/G ratio of 2.43 and a beta of 1.39. The company’s 50 day moving average price is $38.83 and its two-hundred day moving average price is $38.44.
Barnes Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 22nd were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.64 annualized dividend and a yield of 1.62%. Barnes Group’s dividend payout ratio (DPR) is currently 711.11%.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the company. Truist Financial upped their price target on Barnes Group from $34.00 to $38.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Oppenheimer upped their price objective on Barnes Group from $43.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. Finally, DA Davidson lifted their target price on Barnes Group from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, July 29th.
Read Our Latest Stock Analysis on Barnes Group
Barnes Group Company Profile
Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. The company operates through 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.
Featured Articles
- Five stocks we like better than Barnes Group
- 3 Grocery Stocks That Are Proving They Are Still Essential
- Rocket Lab Stock Soars: Should Investors Chase the Rally?
- Trading Halts Explained
- KB Home Slips After Earnings: What’s Next for Homebuilders?
- Investing in the High PE Growth Stocks
- Micron Stock Soars as AI Demand Fuels Big Q4 Earnings Beat
Want to see what other hedge funds are holding B? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Barnes Group Inc. (NYSE:B – Free Report).
Receive News & Ratings for Barnes Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barnes Group and related companies with MarketBeat.com's FREE daily email newsletter.