Barnes Group Inc. (NYSE:B) Short Interest Up 11.3% in August

Barnes Group Inc. (NYSE:B) was the target of a large increase in short interest during the month of August. As of August 15th, there was short interest totalling 1,280,000 shares, an increase of 11.3% from the July 31st total of 1,150,000 shares. Approximately 2.6% of the company’s shares are sold short. Based on an average daily trading volume, of 326,400 shares, the short-interest ratio is currently 3.9 days.

Barnes Group Price Performance

NYSE:B traded down $0.71 during midday trading on Monday, hitting $40.04. 417,500 shares of the stock were exchanged, compared to its average volume of 315,617. The business has a 50-day moving average price of $40.05 and a two-hundred day moving average price of $38.22. 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 company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 444.89, a P/E/G ratio of 2.47 and a beta of 1.41. Barnes Group has a one year low of $18.79 and a one year high of $45.24.

Barnes Group (NYSE:B) last issued its earnings results on Friday, July 26th. The industrial products company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business had revenue of $382.23 million for the quarter, compared to the consensus estimate of $398.80 million. Barnes Group had a positive return on equity of 5.21% and a negative net margin of 3.74%. Sell-side analysts predict that Barnes Group will post 1.62 EPS for the current year.

Barnes Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 22nd will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.64 annualized dividend and a yield of 1.60%. Barnes Group’s dividend payout ratio is presently 711.11%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its holdings in Barnes Group by 36.9% during the fourth quarter. Russell Investments Group Ltd. now owns 314,262 shares of the industrial products company’s stock valued at $10,254,000 after purchasing an additional 84,695 shares during the last quarter. UniSuper Management Pty Ltd bought a new position in Barnes Group in the 1st quarter worth $497,000. Invenomic Capital Management LP acquired a new position in Barnes Group during the 4th quarter worth $7,759,000. Vanguard Group Inc. boosted its holdings in 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 valued at $211,366,000 after acquiring an additional 206,351 shares during the period. Finally, BNP Paribas Financial Markets grew its position 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 purchasing an additional 10,373 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Analysts Set New Price Targets

B has been the topic of several research reports. DA Davidson raised their price target on shares of Barnes Group from $48.00 to $52.00 and gave the company a “buy” rating in a report on Monday, July 29th. Oppenheimer raised their target price on shares of 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 upped their price target on shares of Barnes Group from $34.00 to $38.00 and gave the stock a “hold” rating in a research report 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.