Argyle Capital Management Inc. continued to hold its stake in Barnes Group Inc. (NYSE:B) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,000 shares of the company’s stock at the end of the second quarter. Argyle Capital Management Inc.’s holdings in Barnes Group were worth $464,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Barnes Group by 126.2% in the first quarter. BlackRock Inc. now owns 3,684 shares of the company’s stock worth $129,000 after buying an additional 2,055 shares in the last quarter. Parametrica Management Ltd purchased a new stake in Barnes Group during the first quarter worth about $203,000. Squarepoint Ops LLC purchased a new stake in Barnes Group during the first quarter worth about $210,000. Acrospire Investment Management LLC purchased a new stake in Barnes Group during the first quarter worth about $290,000. Finally, Huntington Asset Advisors Inc. purchased a new stake in Barnes Group during the first quarter worth about $298,000. Institutional investors and hedge funds own 83.55% of the company’s stock.
Barnes Group Inc. (NYSE:B) traded down 0.63% on Monday, reaching $39.59. The company had a trading volume of 132,047 shares. Barnes Group Inc. has a 1-year low of $30.07 and a 1-year high of $41.86. The stock has a market capitalization of $2.13 billion, a P/E ratio of 18.09 and a beta of 1.54. The stock’s 50 day moving average is $40.41 and its 200-day moving average is $36.09.
Barnes Group (NYSE:B) last released its quarterly earnings results on Friday, July 29th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Barnes Group had a return on equity of 11.69% and a net margin of 10.18%. The company earned $307 million during the quarter, compared to analysts’ expectations of $308.71 million. During the same period last year, the business posted $0.62 earnings per share. The firm’s revenue was down 2.6% compared to the same quarter last year. On average, equities analysts predict that Barnes Group Inc. will post $2.51 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Thursday, August 25th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date was Tuesday, August 23rd. Barnes Group’s dividend payout ratio (DPR) is presently 23.74%.
A number of research analysts have recently weighed in on the company. Zacks Investment Research raised Barnes Group from a “sell” rating to a “hold” rating in a research report on Thursday, June 2nd. Jefferies Group lifted their price objective on Barnes Group from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, August 1st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $39.83.
In other Barnes Group news, Director Thomas O. Barnes sold 730 shares of the stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $41.46, for a total value of $30,265.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary G. Benanav sold 9,901 shares of the stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $41.51, for a total value of $410,990.51. The disclosure for this sale can be found here. 7.80% of the stock is owned by company insiders.
About Barnes Group
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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