Patriot Financial Group Insurance Agency LLC Has $22.15 Million Stock Position in Barnes Group Inc. (NYSE:B)

Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Barnes Group Inc. (NYSE:B) by 9.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 548,088 shares of the industrial products company’s stock after buying an additional 47,821 shares during the period. Barnes Group makes up 3.0% of Patriot Financial Group Insurance Agency LLC’s holdings, making the stock its 2nd largest position. Patriot Financial Group Insurance Agency LLC’s holdings in Barnes Group were worth $22,148,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Barnes Group by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 5,483,184 shares of the industrial products company’s stock worth $178,916,000 after buying an additional 20,267 shares during the last quarter. BNP Paribas Financial Markets raised its holdings 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 worth $980,000 after buying an additional 10,373 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Barnes Group in the first quarter worth $253,000. Texas Permanent School Fund Corp raised its holdings in shares of Barnes Group by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 44,350 shares of the industrial products company’s stock worth $1,648,000 after buying an additional 574 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Barnes Group in the first quarter worth $208,000. 90.82% of the stock is owned by institutional investors and hedge funds.

Barnes Group Price Performance

Shares of NYSE:B traded down $0.08 during midday trading on Monday, hitting $46.82. The company’s stock had a trading volume of 110,728 shares, compared to its average volume of 411,621. The business’s 50 day simple moving average is $41.15 and its 200 day simple moving average is $39.70. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.33 and a current ratio of 2.24. Barnes Group Inc. has a 12-month low of $18.79 and a 12-month high of $47.12. The company has a market cap of $2.37 billion, a P/E ratio of 521.11, a price-to-earnings-growth ratio of 2.87 and a beta of 1.38.

Barnes Group (NYSE:B) last announced its quarterly earnings data on Friday, July 26th. The industrial products company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The firm had revenue of $382.23 million during the quarter, compared to analysts’ expectations of $398.80 million. Barnes Group had a negative net margin of 3.74% and a positive return on equity of 5.21%. On average, analysts forecast that Barnes Group Inc. will post 1.62 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. DA Davidson reiterated a “neutral” rating and issued a $47.50 price objective (down previously from $52.00) on shares of Barnes Group in a research note on Monday, October 7th. Truist Financial raised their price target on shares of Barnes Group from $38.00 to $47.50 and gave the company a “hold” rating in a research report on Tuesday, October 8th. Finally, StockNews.com initiated coverage on shares of Barnes Group in a research report on Friday. They set a “sell” rating on the stock.

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.