Keybank National Association OH lowered its position in Barnes Group Inc. (NYSE:B) by 0.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 48,033 shares of the industrial products company’s stock after selling 100 shares during the period. Keybank National Association OH’s holdings in Barnes Group were worth $2,466,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of B. Jennison Associates LLC increased its stake in Barnes Group by 0.5% in the first quarter. Jennison Associates LLC now owns 19,338 shares of the industrial products company’s stock valued at $993,000 after buying an additional 99 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Barnes Group by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 5,550 shares of the industrial products company’s stock valued at $284,000 after buying an additional 130 shares during the last quarter. Glen Harbor Capital Management LLC increased its stake in Barnes Group by 0.7% in the first quarter. Glen Harbor Capital Management LLC now owns 24,048 shares of the industrial products company’s stock valued at $1,235,000 after buying an additional 160 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Barnes Group by 1.5% in the first quarter. BNP Paribas Arbitrage SA now owns 11,794 shares of the industrial products company’s stock valued at $606,000 after buying an additional 171 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its stake in Barnes Group by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 11,200 shares of the industrial products company’s stock valued at $454,000 after buying an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 83.27% of the company’s stock.
Barnes Group Inc. (NYSE:B) traded up 1.00% during trading on Friday, reaching $54.48. The company had a trading volume of 569,048 shares. Barnes Group Inc. has a 12-month low of $31.13 and a 12-month high of $56.51. The stock has a 50 day moving average of $52.92 and a 200-day moving average of $48.93. The stock has a market capitalization of $2.93 billion, a P/E ratio of 20.56 and a beta of 1.45.
Barnes Group (NYSE:B) last issued its quarterly earnings data on Friday, April 28th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.11. The company had revenue of $341.80 million for the quarter, compared to analyst estimates of $314.81 million. Barnes Group had a net margin of 10.33% and a return on equity of 12.10%. Barnes Group’s revenue was up 18.6% compared to the same quarter last year. During the same period last year, the company posted $0.54 earnings per share. On average, analysts forecast that Barnes Group Inc. will post $2.78 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 9th. Shareholders of record on Thursday, May 25th will be issued a $0.14 dividend. This is a positive change from Barnes Group’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Tuesday, May 23rd. Barnes Group’s payout ratio is currently 23.11%.
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B has been the topic of several recent research reports. SunTrust Banks, Inc. initiated coverage on Barnes Group in a research note on Thursday, January 19th. They issued a “hold” rating and a $49.00 price target on the stock. Zacks Investment Research upgraded Barnes Group from a “sell” rating to a “hold” rating and set a $56.00 price target on the stock in a research note on Wednesday, February 22nd. Jefferies Group LLC upped their price target on Barnes Group from $46.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, April 4th. Finally, Sidoti downgraded Barnes Group from a “buy” rating to a “neutral” rating in a research note on Monday, April 24th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $55.25.
In other Barnes Group news, Director Thomas O. Barnes sold 12,577 shares of Barnes Group stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $50.14, for a total value of $630,610.78. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Dawn N. Edwards sold 6,150 shares of Barnes Group stock in a transaction on Friday, May 5th. The stock was sold at an average price of $55.30, for a total transaction of $340,095.00. The disclosure for this sale can be found here. Insiders sold 50,562 shares of company stock worth $2,651,572 over the last ninety days. Corporate insiders own 7.80% of the company’s stock.
Barnes Group Company Profile
Barnes Group Inc is an industrial and aerospace manufacturer and service provider, serving a range of end markets and customers. The Company’s engineered products, industrial technologies, and solutions are used in applications that provide transportation, manufacturing, healthcare products and technology to the world.
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