Barnes Group Inc. (NYSE:B) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Barnes Group Inc. (NYSE:B) by 20.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,633 shares of the industrial products company’s stock after buying an additional 2,169 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Barnes Group were worth $412,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in B. Handelsbanken Fonder AB increased its holdings in Barnes Group by 10.2% in the third quarter. Handelsbanken Fonder AB now owns 12,455 shares of the industrial products company’s stock valued at $423,000 after buying an additional 1,155 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Barnes Group by 2.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,839 shares of the industrial products company’s stock worth $742,000 after purchasing an additional 483 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in Barnes Group by 114.0% in the third quarter. Teacher Retirement System of Texas now owns 11,435 shares of the industrial products company’s stock valued at $388,000 after purchasing an additional 6,092 shares during the last quarter. Mesirow Institutional Investment Management Inc. increased its position in shares of Barnes Group by 3.8% in the third quarter. Mesirow Institutional Investment Management Inc. now owns 259,548 shares of the industrial products company’s stock valued at $8,817,000 after buying an additional 9,472 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Barnes Group by 29.4% in the 3rd quarter. Victory Capital Management Inc. now owns 20,893 shares of the industrial products company’s stock worth $710,000 after buying an additional 4,741 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. StockNews.com raised Barnes Group from a “sell” rating to a “hold” rating in a research note on Monday, February 19th. Truist Financial boosted their price target on Barnes Group from $23.00 to $34.00 and gave the company a “hold” rating in a report on Wednesday, January 10th. DA Davidson upgraded Barnes Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $35.00 to $45.00 in a report on Thursday, April 18th. Finally, Oppenheimer upped their target price 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 Stock Performance

Shares of B stock opened at $36.53 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.53 and a current ratio of 2.41. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 405.89, a price-to-earnings-growth ratio of 2.04 and a beta of 1.37. Barnes Group Inc. has a one year low of $18.79 and a one year high of $43.65. The company has a 50 day moving average price of $35.98 and a 200 day moving average price of $32.04.

Barnes Group (NYSE:B) last posted its quarterly earnings results on Friday, February 16th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. The firm 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 firm’s quarterly revenue was up 32.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 earnings per share. Sell-side analysts anticipate that Barnes Group Inc. will post 1.7 EPS for the current year.

Barnes Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Thursday, February 22nd were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.75%. The ex-dividend date was Wednesday, February 21st. Barnes Group’s payout ratio is 711.11%.

About Barnes Group

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.