Flynn Zito Capital Management LLC Purchases New Stake in Barnes Group Inc. (NYSE:B)

Flynn Zito Capital Management LLC purchased a new stake in Barnes Group Inc. (NYSE:B) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,757 shares of the industrial products company’s stock, valued at approximately $253,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of B. Advisor Group Holdings Inc. raised its stake in Barnes Group by 15.0% during the first quarter. Advisor Group Holdings Inc. now owns 4,191 shares of the industrial products company’s stock worth $168,000 after acquiring an additional 546 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Barnes Group by 51.3% during the first quarter. JPMorgan Chase & Co. now owns 178,508 shares of the industrial products company’s stock worth $7,174,000 after acquiring an additional 60,512 shares in the last quarter. Raymond James & Associates raised its stake in Barnes Group by 17.3% during the first quarter. Raymond James & Associates now owns 83,915 shares of the industrial products company’s stock worth $3,373,000 after acquiring an additional 12,391 shares in the last quarter. US Bancorp DE raised its stake in Barnes Group by 10.4% during the first quarter. US Bancorp DE now owns 10,617 shares of the industrial products company’s stock worth $427,000 after acquiring an additional 1,001 shares in the last quarter. Finally, Citigroup Inc. raised its stake in Barnes Group by 11.0% during the first quarter. Citigroup Inc. now owns 40,453 shares of the industrial products company’s stock worth $1,626,000 after acquiring an additional 4,021 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on B shares. Truist Financial boosted their target price on Barnes Group from $23.00 to $34.00 and gave the stock a “hold” rating in a research note on Wednesday, January 10th. DA Davidson raised Barnes Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $35.00 to $45.00 in a research note on Thursday. StockNews.com upgraded Barnes Group from a “sell” rating to a “hold” rating in a report on Monday, February 19th. Finally, Oppenheimer boosted their price target on Barnes Group from $36.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th.

Barnes Group Trading Up 8.1 %

Shares of NYSE:B traded up $2.69 during midday trading on Thursday, hitting $36.08. 481,449 shares of the stock were exchanged, compared to its average volume of 330,727. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 115.52, a P/E/G ratio of 2.01 and a beta of 1.38. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.37 and a current ratio of 2.29. The business’s 50-day moving average price is $36.01 and its 200 day moving average price is $31.84. Barnes Group Inc. has a 12 month low of $18.79 and a 12 month high of $43.65.

Barnes Group (NYSE:B) last announced its earnings results on Friday, February 16th. The industrial products company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.35 by $0.06. Barnes Group had a return on equity of 6.20% and a net margin of 1.10%. The business had revenue of $415.50 million for the quarter, compared to analysts’ expectations of $420.47 million. During the same period in the prior year, the business posted $0.52 earnings per share. The firm’s revenue was up 32.5% on a year-over-year basis. Analysts predict that Barnes Group Inc. will post 1.69 earnings per share for the current year.

Barnes Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Thursday, February 22nd were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Wednesday, February 21st. Barnes Group’s payout ratio is presently 206.46%.

Barnes Group Company 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.