Barnes Group Inc. (NYSE:B) Shares Sold by Harfst & Associates Inc.

Harfst & Associates Inc. cut its position in Barnes Group Inc. (NYSE:B) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 132,529 shares of the industrial products company’s stock after selling 3,911 shares during the quarter. Barnes Group makes up about 1.3% of Harfst & Associates Inc.’s holdings, making the stock its 10th biggest position. Harfst & Associates Inc. owned about 0.26% of Barnes Group worth $5,488,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in shares of Barnes Group by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 391,181 shares of the industrial products company’s stock worth $16,199,000 after acquiring an additional 2,942 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of Barnes Group by 1.6% during the second quarter. Louisiana State Employees Retirement System now owns 25,500 shares of the industrial products company’s stock valued at $1,056,000 after purchasing an additional 400 shares during the period. S. R. Schill & Associates bought a new position in shares of Barnes Group during the 2nd quarter worth about $349,000. QRG Capital Management Inc. raised its position in Barnes Group by 4.1% in the second quarter. QRG Capital Management Inc. now owns 6,073 shares of the industrial products company’s stock worth $251,000 after purchasing an additional 240 shares in the last quarter. Finally, Kennedy Capital Management LLC boosted its holdings in Barnes Group by 10.7% during the first quarter. Kennedy Capital Management LLC now owns 753,625 shares of the industrial products company’s stock valued at $27,997,000 after purchasing an additional 72,546 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barnes Group Trading Down 1.7 %

NYSE:B traded down $0.71 during trading hours on Monday, hitting $40.04. 417,500 shares of the stock were exchanged, compared to its average volume of 315,617. The company has a market capitalization of $2.03 billion, a P/E ratio of 444.89, a price-to-earnings-growth ratio of 2.47 and a beta of 1.41. The company has a quick ratio of 1.33, a current ratio of 2.24 and a debt-to-equity ratio of 0.90. The company’s 50 day moving average is $40.04 and its two-hundred day moving average is $38.20. Barnes Group Inc. has a twelve month low of $18.79 and a twelve month high of $45.24.

Barnes Group (NYSE:B) last released its earnings results on Friday, July 26th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $382.23 million for the quarter, compared to analyst estimates of $398.80 million. On average, sell-side analysts anticipate that Barnes Group Inc. will post 1.62 earnings per share for the current fiscal year.

Barnes Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.64 annualized dividend and a dividend yield of 1.60%. Barnes Group’s payout ratio is currently 711.11%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on B. Oppenheimer upped their price objective on shares of Barnes Group from $43.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th. 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 note on Monday, July 29th. Finally, Truist Financial upped their price target on shares of Barnes Group from $34.00 to $38.00 and gave the stock a “hold” rating in a research report on Monday, July 29th.

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.