Bank of Montreal Can bought a new position in shares of Barnes Group Inc. (NYSE:B) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 126,693 shares of the company’s stock, valued at approximately $4,196,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Institutional Trust Company N.A. raised its stake in shares of Barnes Group by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,292,358 shares of the company’s stock valued at $45,271,000 after buying an additional 19,661 shares during the last quarter. BlackRock Group LTD raised its stake in shares of Barnes Group by 7.7% in the first quarter. BlackRock Group LTD now owns 66,096 shares of the company’s stock valued at $2,316,000 after buying an additional 4,740 shares during the last quarter. HBK Investments L P purchased a new stake in shares of Barnes Group during the first quarter valued at $580,000. Capstone Asset Management Co. raised its stake in shares of Barnes Group by 1.0% in the second quarter. Capstone Asset Management Co. now owns 15,078 shares of the company’s stock valued at $499,000 after buying an additional 150 shares during the last quarter. Finally, BlackRock Inc. raised its stake in shares of Barnes Group by 126.2% in the first quarter. BlackRock Inc. now owns 3,684 shares of the company’s stock valued at $129,000 after buying an additional 2,055 shares during the last quarter. 83.55% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Barnes Group Inc. (NYSE:B) traded up 0.70% during trading on Friday, reaching $38.91. The company’s stock had a trading volume of 133,776 shares. Barnes Group Inc. has a 52-week low of $30.07 and a 52-week high of $41.86. The company has a market cap of $2.10 billion, a PE ratio of 17.78 and a beta of 1.47. The firm’s 50-day moving average is $39.97 and its 200 day moving average is $36.61.
Barnes Group (NYSE:B) last released its quarterly earnings data on Friday, July 29th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. The firm had revenue of $307 million for the quarter, compared to analyst estimates of $308.71 million. Barnes Group had a return on equity of 11.69% and a net margin of 10.18%. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.62 earnings per share. On average, equities research analysts predict that Barnes Group Inc. will post $2.51 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Wednesday, November 23rd will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.34%. Barnes Group’s dividend payout ratio (DPR) is currently 23.74%.
Several analysts have recently weighed in on the company. Zacks Investment Research raised Barnes Group from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Jefferies Group boosted their price target on Barnes Group from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Barnes Group currently has an average rating of “Buy” and an average target price of $40.17.
In other news, SVP Christopher J. Stephens sold 23,039 shares of the stock in a transaction that occurred on Friday, September 16th. The stock was 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 at the SEC website. Also, Director Gary G. Benanav sold 9,901 shares of the stock in a transaction that occurred on Friday, August 19th. The stock was 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. Insiders own 7.80% of the company’s stock.
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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