GAMMA Investing LLC Purchases Shares of 1,747 Barnes Group Inc. (NYSE:B)

GAMMA Investing LLC acquired a new stake in Barnes Group Inc. (NYSE:B) during the fourth quarter, Holdings Channel.com reports. The fund acquired 1,747 shares of the industrial products company’s stock, valued at approximately $58,000.

A number of other hedge funds have also recently made changes to their positions in the business. First Eagle Investment Management LLC grew its holdings in Barnes Group by 49.6% during the third quarter. First Eagle Investment Management LLC now owns 314,344 shares of the industrial products company’s stock worth $10,678,000 after buying an additional 104,198 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Barnes Group by 316.2% during the 4th quarter. State of Alaska Department of Revenue now owns 131,176 shares of the industrial products company’s stock worth $4,280,000 after acquiring an additional 99,655 shares during the last quarter. Invesco Ltd. grew its stake in shares of Barnes Group by 29.6% in the 3rd quarter. Invesco Ltd. now owns 383,403 shares of the industrial products company’s stock worth $13,024,000 after acquiring an additional 87,472 shares in the last quarter. Kennedy Capital Management LLC purchased a new stake in shares of Barnes Group in the third quarter valued at about $2,354,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Barnes Group by 562.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 46,601 shares of the industrial products company’s stock valued at $1,583,000 after purchasing an additional 39,564 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. StockNews.com raised shares of Barnes Group from a “sell” rating to a “hold” rating in a research report on Monday, February 19th. Truist Financial increased their price target on Barnes Group from $23.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th. DA Davidson upgraded Barnes Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $35.00 to $45.00 in a report on Thursday, April 18th. Finally, Oppenheimer upped their price objective on Barnes Group from $36.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th.

Barnes Group Trading Up 0.2 %

NYSE:B opened at $34.79 on Thursday. Barnes Group Inc. has a 12 month low of $18.79 and a 12 month high of $43.65. The company has a current ratio of 2.41, a quick ratio of 1.53 and a debt-to-equity ratio of 0.97. The firm’s 50 day moving average is $36.02 and its 200 day moving average is $31.99. The stock has a market capitalization of $1.76 billion, a PE ratio of 387.78, a price-to-earnings-growth ratio of 2.08 and a beta of 1.38.

Barnes Group (NYSE:B) last released its earnings results on Friday, February 16th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. The business had revenue of $415.50 million during the quarter, compared to the consensus estimate of $420.47 million. Barnes Group had a return on equity of 5.92% and a net margin of 0.31%. The business’s revenue for the quarter was up 32.5% on a year-over-year basis. During the same period last year, the business posted $0.52 earnings per share. Sell-side analysts expect that Barnes Group Inc. will post 1.7 earnings per share for the current year.

Barnes Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Thursday, February 22nd were given a dividend of $0.16 per share. The ex-dividend date was Wednesday, February 21st. This represents a $0.64 dividend on an annualized basis and a yield of 1.84%. Barnes Group’s dividend payout ratio is presently 711.11%.

Barnes Group 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.