Gabelli Funds LLC Takes Position in Barnes Group Inc. (NYSE:B)

Gabelli Funds LLC acquired a new position in shares of Barnes Group Inc. (NYSE:B) 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 (NYSE:B) last issued its earnings results on Friday, July 26th. The industrial products company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Barnes Group had a positive return on equity of 5.21% and a negative net margin of 3.74%. The business had revenue of $382.23 million during the quarter, compared to the consensus estimate of $398.80 million. On average, equities analysts forecast that Barnes Group Inc. will post 1.62 earnings per share for the current fiscal year.

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.

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.