Louisiana State Employees Retirement System maintained its stake in Barnes Group Inc. (NYSE:B) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,400 shares of the company’s stock at the end of the second quarter. Louisiana State Employees Retirement System’s holdings in Barnes Group were worth $742,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Bayesian Capital Management LP purchased a new stake in Barnes Group during the first quarter worth approximately $340,000. HBK Investments L P acquired a new stake in shares of Barnes Group during the first quarter worth $580,000. State Street Corp boosted its stake in shares of Barnes Group by 2.1% in the first quarter. State Street Corp now owns 1,087,428 shares of the company’s stock worth $38,095,000 after buying an additional 22,284 shares during the period. Huntington Asset Advisors Inc. acquired a new stake in shares of Barnes Group during the first quarter worth $298,000. Finally, Palisade Capital Management LLC NJ boosted its stake in shares of Barnes Group by 40.5% in the first quarter. Palisade Capital Management LLC NJ now owns 303,138 shares of the company’s stock worth $10,619,000 after buying an additional 87,336 shares during the period. Institutional investors and hedge funds own 83.55% of the company’s stock.
Shares of Barnes Group Inc. (NYSE:B) traded up 1.02% during trading on Monday, hitting $39.58. 173,336 shares of the stock traded hands. The company has a market cap of $2.13 billion, a PE ratio of 18.08 and a beta of 1.47. Barnes Group Inc. has a one year low of $30.07 and a one year high of $41.86. The firm has a 50 day moving average price of $40.30 and a 200-day moving average price of $36.47.
Barnes Group (NYSE:B) last released its quarterly earnings results on Friday, July 29th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $307 million for the quarter, compared to the consensus estimate of $308.71 million. Barnes Group had a net margin of 10.18% and a return on equity of 11.69%. Barnes Group’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.62 EPS. Analysts anticipate that Barnes Group Inc. will post $2.51 earnings per share for the current fiscal year.
A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of Barnes Group from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Jefferies Group increased their price target on shares of Barnes Group from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, August 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $40.17.
In related news, Director Gary G. Benanav sold 9,901 shares of Barnes Group stock in a transaction on Friday, August 19th. The shares were sold at an average price of $41.51, for a total value of $410,990.51. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Christopher J. Stephens sold 23,039 shares of Barnes Group stock in a transaction on Friday, September 16th. The stock was sold at an average price of $38.76, for a total transaction of $892,991.64. The disclosure for this sale can be found here. 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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