Heritage Wealth Management LLC Buys 318 Shares of Barnes Group Inc. (NYSE:B)

Heritage Wealth Management LLC lifted its stake in Barnes Group Inc. (NYSE:B) by 21.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,816 shares of the industrial products company’s stock after buying an additional 318 shares during the period. Heritage Wealth Management LLC’s holdings in Barnes Group were worth $76,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Barnes Group by 2.4% during the second quarter. Vanguard Group Inc. now owns 5,051,759 shares of the industrial products company’s stock worth $258,903,000 after purchasing an additional 116,051 shares during the last quarter. State Street Corp lifted its stake in Barnes Group by 4.2% during the second quarter. State Street Corp now owns 1,638,542 shares of the industrial products company’s stock worth $83,975,000 after purchasing an additional 65,656 shares during the last quarter. Geode Capital Management LLC lifted its stake in Barnes Group by 3.9% during the second quarter. Geode Capital Management LLC now owns 793,464 shares of the industrial products company’s stock worth $40,665,000 after purchasing an additional 29,828 shares during the last quarter. Northern Trust Corp lifted its stake in Barnes Group by 0.9% during the second quarter. Northern Trust Corp now owns 707,622 shares of the industrial products company’s stock worth $36,266,000 after purchasing an additional 6,000 shares during the last quarter. Finally, Palisade Capital Management LLC NJ lifted its stake in Barnes Group by 11.5% during the second quarter. Palisade Capital Management LLC NJ now owns 701,526 shares of the industrial products company’s stock worth $35,953,000 after purchasing an additional 72,378 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Shares of NYSE:B opened at $48.19 on Friday. The stock has a market cap of $2.44 billion, a PE ratio of 27.38, a PEG ratio of 2.06 and a beta of 1.21. The company’s fifty day moving average is $45.87 and its 200 day moving average is $46.31. Barnes Group Inc. has a 52 week low of $39.84 and a 52 week high of $57.64. The company has a quick ratio of 1.41, a current ratio of 2.19 and a debt-to-equity ratio of 0.45.

Barnes Group (NYSE:B) last released its quarterly earnings data on Thursday, October 28th. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. Barnes Group had a net margin of 7.23% and a return on equity of 6.41%. The firm had revenue of $325.10 million for the quarter, compared to analysts’ expectations of $322.14 million. During the same quarter in the previous year, the company earned $0.30 earnings per share. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. Sell-side analysts anticipate that Barnes Group Inc. will post 1.83 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 10th. Stockholders of record on Tuesday, November 23rd were paid a $0.16 dividend. The ex-dividend date of this dividend was Monday, November 22nd. This represents a $0.64 annualized dividend and a dividend yield of 1.33%. Barnes Group’s dividend payout ratio is presently 36.36%.

In related news, SVP Michael Andrew Beck sold 25,105 shares of the stock in a transaction that occurred on Monday, November 15th. The shares were sold at an average price of $44.11, for a total transaction of $1,107,381.55. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 8.21% of the company’s stock.

Several brokerages have recently issued reports on B. Oppenheimer lowered their price target on shares of Barnes Group from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Monday, November 1st. Truist cut their price target on shares of Barnes Group from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Friday, October 15th. Zacks Investment Research cut shares of Barnes Group from a “hold” rating to a “strong sell” rating and set a $40.00 price objective on the stock. in a research report on Wednesday, December 29th. Finally, Truist Securities cut their price objective on shares of Barnes Group from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Friday, October 15th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $49.43.

Barnes Group Company Profile

Barnes Group, Inc engages in the provision of engineered products, industrial technologies, and solutions, serving a wide range of end markets and customers. It operates through the Industrial and Aerospace segments. The Industrial segment includes molding solutions; force and motion control; and automation and engineered components business units.

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Institutional Ownership by Quarter for Barnes Group (NYSE:B)

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