Thrivent Financial for Lutherans Has $25.37 Million Stake in Barnes Group Inc. (NYSE:B)

Thrivent Financial for Lutherans lessened its holdings in shares of Barnes Group Inc. (NYSE:B - Free Report) by 2.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 612,598 shares of the industrial products company's stock after selling 17,044 shares during the quarter. Thrivent Financial for Lutherans owned approximately 1.21% of Barnes Group worth $25,368,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. UniSuper Management Pty Ltd bought a new stake in shares of Barnes Group during the first quarter worth approximately $497,000. Invenomic Capital Management LP bought a new stake in shares of Barnes Group during the fourth quarter worth approximately $7,759,000. Vanguard Group Inc. boosted its holdings in shares of Barnes Group by 3.8% during the first quarter. Vanguard Group Inc. now owns 5,689,535 shares of the industrial products company's stock worth $211,366,000 after acquiring an additional 206,351 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Barnes Group by 22.0% during the first quarter. Russell Investments Group Ltd. now owns 383,359 shares of the industrial products company's stock worth $14,242,000 after acquiring an additional 69,097 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of Barnes Group by 64.8% in the first quarter. BNP Paribas Financial Markets now owns 26,382 shares of the industrial products company's stock valued at $980,000 after buying an additional 10,373 shares during the period. Institutional investors own 90.82% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on B. DA Davidson boosted their price target on Barnes Group from $48.00 to $52.00 and gave the company a "buy" rating in a research note on Monday, July 29th. Oppenheimer boosted their price target on Barnes Group from $43.00 to $48.00 and gave the company an "outperform" rating in a research note on Friday, June 14th. Finally, Truist Financial boosted their price target on Barnes Group from $34.00 to $38.00 and gave the company a "hold" rating in a research note on Monday, July 29th.

Barnes Group Price Performance

B traded up $0.36 during trading on Tuesday, hitting $39.76. 188,351 shares of the stock traded hands, compared to its average volume of 324,705. Barnes Group Inc. has a twelve month low of $18.79 and a twelve month high of $45.24. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 441.78, a PEG ratio of 2.14 and a beta of 1.39. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.24 and a quick ratio of 1.33. The business has a 50 day moving average price of $38.97 and a 200 day moving average price of $38.43.

Barnes Group (NYSE:B - Get Free Report) last announced its quarterly earnings data on Friday, July 26th. The industrial products company reported $0.37 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $382.23 million for the quarter, compared to analyst estimates of $398.80 million. Equities research analysts forecast that Barnes Group Inc. will post 1.62 earnings per share for the current fiscal year.

Barnes Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.64 annualized dividend and a dividend yield of 1.61%. Barnes Group's dividend payout ratio (DPR) is presently 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.