Stone Ridge Asset Management LLC grew its stake in Barnes Group Inc. (NYSE:B) by 8.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 14,253 shares of the industrial products company’s stock after buying an additional 1,062 shares during the period. Stone Ridge Asset Management LLC’s holdings in Barnes Group were worth $764,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Doyle Wealth Management acquired a new stake in Barnes Group during the fourth quarter valued at $26,000. Private Capital Group LLC lifted its holdings in Barnes Group by 213.2% during the fourth quarter. Private Capital Group LLC now owns 758 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 516 shares in the last quarter. KBC Group NV purchased a new position in Barnes Group during the fourth quarter valued at $44,000. Nisa Investment Advisors LLC lifted its holdings in Barnes Group by 269.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 960 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 700 shares in the last quarter. Finally, AdvisorNet Financial Inc lifted its holdings in Barnes Group by 15.1% during the fourth quarter. AdvisorNet Financial Inc now owns 1,387 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 182 shares in the last quarter. 85.66% of the stock is owned by institutional investors and hedge funds.
NYSE:B opened at $51.55 on Monday. The company has a current ratio of 2.25, a quick ratio of 1.51 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $2.65 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 2.25 and a beta of 1.47. Barnes Group Inc. has a twelve month low of $49.06 and a twelve month high of $72.70.
Barnes Group (NYSE:B) last posted its quarterly earnings results on Friday, February 22nd. The industrial products company reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.02. The firm had revenue of $384.10 million for the quarter, compared to the consensus estimate of $391.37 million. Barnes Group had a net margin of 11.11% and a return on equity of 13.95%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the firm posted $0.71 earnings per share. On average, research analysts anticipate that Barnes Group Inc. will post 3.27 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Monday, February 25th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Friday, February 22nd. Barnes Group’s dividend payout ratio is currently 19.88%.
In other Barnes Group news, Director Richard J. Hipple purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The shares were purchased at an average cost of $58.83 per share, with a total value of $58,830.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Christopher J. Stephens sold 13,200 shares of Barnes Group stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $58.94, for a total transaction of $778,008.00. The disclosure for this sale can be found here. Company insiders own 7.93% of the company’s stock.
Several equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Barnes Group from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. SunTrust Banks reaffirmed a “hold” rating and set a $57.00 price objective on shares of Barnes Group in a report on Friday, February 22nd. UBS Group downgraded shares of Barnes Group from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $72.00 to $65.00 in a report on Friday, February 15th. Finally, Sidoti raised shares of Barnes Group from a “neutral” rating to a “buy” rating in a report on Wednesday, January 2nd. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Barnes Group has a consensus rating of “Hold” and an average price target of $66.17.
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Barnes Group Profile
Barnes Group Inc operates as an industrial and aerospace manufacturer, and service provider in the United States and internationally. Its Industrial segment offers precision components, products, and systems for applications serving various customers in end-markets, such as transportation, industrial equipment, consumer products, packaging, electronics, medical devices, and energy.
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