Barnes Group Inc. (NYSE:B) Short Interest Update

Barnes Group Inc. (NYSE:B) was the recipient of a significant increase in short interest in July. As of July 31st, there was short interest totalling 1,150,000 shares, an increase of 6.5% from the July 15th total of 1,080,000 shares. Currently, 2.4% of the shares of the stock are sold short. Based on an average daily volume of 335,800 shares, the days-to-cover ratio is presently 3.4 days.

Institutional Trading of Barnes Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings in Barnes Group by 36.9% in the fourth quarter. Russell Investments Group Ltd. now owns 314,262 shares of the industrial products company’s stock worth $10,254,000 after purchasing an additional 84,695 shares in the last quarter. UniSuper Management Pty Ltd bought a new position in Barnes Group in the first quarter worth about $497,000. Invenomic Capital Management LP bought a new position in Barnes Group in the fourth quarter worth about $7,759,000. Vanguard Group Inc. raised its holdings in Barnes Group by 3.8% in the first quarter. Vanguard Group Inc. now owns 5,689,535 shares of the industrial products company’s stock worth $211,366,000 after purchasing an additional 206,351 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in 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 worth $980,000 after purchasing an additional 10,373 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors.

Barnes Group Trading Up 1.9 %

Shares of B traded up $0.73 during trading hours on Monday, reaching $38.84. 197,141 shares of the company traded hands, compared to its average volume of 320,868. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 423.44, a PEG ratio of 2.38 and a beta of 1.41. Barnes Group has a 12-month low of $18.79 and a 12-month high of $45.24. The company has a current ratio of 2.24, a quick ratio of 1.33 and a debt-to-equity ratio of 0.90. The stock’s fifty day moving average price is $39.97 and its 200 day moving average price is $37.87.

Barnes Group (NYSE:B) last released its quarterly earnings data on Friday, July 26th. The industrial products company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). The firm had revenue of $382.23 million during the quarter, compared to the consensus estimate of $398.80 million. Barnes Group had a negative net margin of 3.74% and a positive return on equity of 5.21%. Sell-side analysts forecast that Barnes Group will post 1.64 earnings per share for the current year.

Barnes Group Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Thursday, August 22nd. This represents a $0.64 annualized dividend and a dividend yield of 1.65%. Barnes Group’s payout ratio is currently 711.11%.

Analysts Set New Price Targets

Several research analysts have commented on B shares. Oppenheimer lifted their price objective on shares of Barnes Group from $43.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th. DA Davidson boosted their target price on shares of Barnes Group from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Truist Financial boosted their target price on shares of 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 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.