Zacks Investment Research upgraded shares of Barnes Group Inc. (NYSE:B) from a hold rating to a buy rating in a research report report published on Wednesday. The firm currently has $46.00 price target on the stock.
According to Zacks, “Barnes Group Inc. is an international manufacturer of precision metal parts and distributor of industrial supplies, serving a wide range of markets and customers. “
Separately, Jefferies Group lifted their price objective on shares of Barnes Group from $41.00 to $44.00 and gave the stock a buy rating in a research note on Monday, August 1st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Barnes Group currently has a consensus rating of Buy and an average target price of $40.17.
Barnes Group (NYSE:B) opened at 40.55 on Wednesday. The stock’s 50 day moving average is $40.40 and its 200-day moving average is $36.29. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 18.52 and a beta of 1.47. Barnes Group has a 12 month low of $30.07 and a 12 month high of $41.86.
Barnes Group (NYSE:B) last posted its earnings results on Friday, July 29th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The company earned $307 million during the quarter, compared to analysts’ expectations of $308.71 million. Barnes Group had a net margin of 10.18% and a return on equity of 11.69%. Barnes Group’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.62 EPS. Equities analysts anticipate that Barnes Group will post $2.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Thursday, August 25th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Tuesday, August 23rd. Barnes Group’s dividend payout ratio is currently 23.74%.
In related news, SVP Christopher J. Stephens sold 23,039 shares of Barnes Group stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $38.76, for a total transaction of $892,991.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gary G. Benanav sold 9,901 shares of Barnes Group stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $41.51, for a total transaction of $410,990.51. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in B. Macquarie Group Ltd. raised its stake in shares of Barnes Group by 28.5% in the second quarter. Macquarie Group Ltd. now owns 1,710,686 shares of the company’s stock valued at $56,658,000 after buying an additional 379,076 shares during the period. Mason Street Advisors LLC bought a new stake in shares of Barnes Group during the second quarter valued at about $327,000. Aristotle Capital Boston LLC raised its stake in shares of Barnes Group by 3.2% in the second quarter. Aristotle Capital Boston LLC now owns 165,452 shares of the company’s stock valued at $5,480,000 after buying an additional 5,169 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Barnes Group by 1.1% in the second quarter. Public Employees Retirement System of Ohio now owns 31,186 shares of the company’s stock valued at $1,033,000 after buying an additional 346 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Barnes Group by 2.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 243,362 shares of the company’s stock valued at $8,061,000 after buying an additional 5,805 shares during the period. 83.55% of the stock is currently owned by institutional investors.
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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