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

Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Barnes Group Inc. (NYSE:B) by 9.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 548,088 shares of the industrial products company’s stock after purchasing an additional 47,821 shares during the period. Barnes Group makes up 3.0% of Patriot Financial Group Insurance Agency LLC’s portfolio, making the stock its 2nd biggest holding. Patriot Financial Group Insurance Agency LLC owned 1.08% of Barnes Group worth $22,148,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in B. Vanguard Group Inc. grew its position in Barnes Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 5,483,184 shares of the industrial products company’s stock valued at $178,916,000 after purchasing an additional 20,267 shares in the last quarter. BNP Paribas Financial Markets lifted its stake 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 valued at $980,000 after acquiring an additional 10,373 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in Barnes Group in the first quarter valued at approximately $253,000. Texas Permanent School Fund Corp lifted its stake in 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 valued at $1,648,000 after acquiring an additional 574 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Barnes Group in the first quarter valued at approximately $208,000. Institutional investors own 90.82% of the company’s stock.

Wall Street Analyst Weigh In

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

Barnes Group Trading Down 0.2 %

NYSE B traded down $0.08 on Monday, reaching $46.82. The company had a trading volume of 110,728 shares, compared to its average volume of 411,621. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 521.11, a P/E/G ratio of 2.87 and a beta of 1.38. Barnes Group Inc. has a fifty-two week low of $18.79 and a fifty-two week high of $47.12. The business has a 50 day moving average of $41.15 and a two-hundred day moving average of $39.70. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.24 and a quick ratio of 1.33.

Barnes Group (NYSE:B) last announced its quarterly earnings results 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). Barnes Group had a negative net margin of 3.74% and a positive return on equity of 5.21%. The business had revenue of $382.23 million during the quarter, compared to the consensus estimate of $398.80 million. Analysts forecast that Barnes Group Inc. will post 1.62 EPS for the current year.

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.