Pitcairn Co. Has $362,000 Stake in Barnes Group Inc. (NYSE:B)

Pitcairn Co. grew its holdings in shares of Barnes Group Inc. (NYSE:B) by 6.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,743 shares of the industrial products company’s stock after acquiring an additional 548 shares during the quarter. Pitcairn Co.’s holdings in Barnes Group were worth $362,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of B. Parallel Advisors LLC increased its stake in shares of Barnes Group by 418.3% in the fourth quarter. Parallel Advisors LLC now owns 1,218 shares of the industrial products company’s stock valued at $40,000 after buying an additional 983 shares during the period. GAMMA Investing LLC bought a new stake in Barnes Group in the fourth quarter valued at approximately $58,000. CWM LLC boosted its holdings in Barnes Group by 470.7% in the fourth quarter. CWM LLC now owns 2,100 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 1,732 shares during the last quarter. TFO Wealth Partners LLC boosted its holdings in Barnes Group by 57,362.5% in the fourth quarter. TFO Wealth Partners LLC now owns 4,597 shares of the industrial products company’s stock valued at $150,000 after acquiring an additional 4,589 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Barnes Group in the first quarter valued at approximately $208,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barnes Group Trading Down 0.3 %

Shares of Barnes Group stock traded down $0.11 on Thursday, reaching $42.11. 788,476 shares of the company’s stock were exchanged, compared to its average volume of 317,367. The company has a market capitalization of $2.13 billion, a P/E ratio of 468.89, a price-to-earnings-growth ratio of 2.53 and a beta of 1.41. Barnes Group Inc. has a 52 week low of $18.79 and a 52 week high of $45.24. The firm’s 50-day moving average is $40.27 and its two-hundred day moving average is $37.00. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.53 and a current ratio of 2.41.

Barnes Group (NYSE:B) last issued its earnings results on Friday, April 26th. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. Barnes Group had a return on equity of 5.92% and a net margin of 0.31%. The company had revenue of $430.64 million for the quarter, compared to analysts’ expectations of $425.32 million. Sell-side analysts predict that Barnes Group Inc. will post 1.72 EPS for the current fiscal year.

Barnes Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 22nd will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Thursday, August 22nd. Barnes Group’s dividend payout ratio is currently 711.11%.

Analyst Upgrades and Downgrades

B has been the topic of several analyst reports. Oppenheimer upped their target price on Barnes Group from $43.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, June 14th. DA Davidson increased their price target on Barnes Group from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, June 13th.

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.