786,677 Shares in Barnes Group Inc. (NYSE:B) Purchased by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. bought a new position in shares of Barnes Group Inc. (NYSE:B) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 786,677 shares of the industrial products company’s stock, valued at approximately $32,576,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sei Investments Co. boosted its position in Barnes Group by 3.0% during the second quarter. Sei Investments Co. now owns 327,984 shares of the industrial products company’s stock worth $13,582,000 after purchasing an additional 9,609 shares in the last quarter. Intech Investment Management LLC purchased a new position in Barnes Group during the second quarter worth approximately $277,000. Moors & Cabot Inc. boosted its position in Barnes Group by 14.4% during the second quarter. Moors & Cabot Inc. now owns 9,434 shares of the industrial products company’s stock worth $391,000 after purchasing an additional 1,184 shares in the last quarter. Renaissance Technologies LLC boosted its position in Barnes Group by 158.2% during the second quarter. Renaissance Technologies LLC now owns 50,600 shares of the industrial products company’s stock worth $2,095,000 after purchasing an additional 31,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Barnes Group by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,587,611 shares of the industrial products company’s stock worth $148,565,000 after purchasing an additional 60,152 shares in the last quarter. 90.82% of the stock is owned by institutional investors and hedge funds.

Barnes Group Stock Performance

NYSE B opened at $39.45 on Friday. The company has a market cap of $2.00 billion, a PE ratio of 438.33, a price-to-earnings-growth ratio of 2.14 and a beta of 1.39. The stock’s 50 day simple moving average is $39.14 and its 200-day simple moving average is $38.38. Barnes Group Inc. has a 1-year low of $18.79 and a 1-year high of $45.24. 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 (NYSE:B) last posted its quarterly earnings results on Friday, July 26th. The industrial products company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). Barnes Group had a negative net margin of 3.74% and a positive return on equity of 5.21%. The company had revenue of $382.23 million during the quarter, compared to analyst estimates of $398.80 million. As a group, equities research analysts anticipate that Barnes Group Inc. will post 1.62 EPS for the current fiscal year.

Barnes Group Announces Dividend

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 $0.16 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.64 annualized dividend and a dividend yield of 1.62%. Barnes Group’s dividend payout ratio is presently 711.11%.

Analyst Ratings Changes

A number of equities analysts have issued reports on B shares. Truist Financial increased 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 raised their target price on Barnes Group from $43.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. Finally, DA Davidson raised their target price on Barnes Group from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, July 29th.

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.