Public Employees Retirement Association of Colorado cut its stake in shares of Barnes Group Inc. (NYSE:B) by 0.4% during the second quarter, Holdings Channel reports. The firm owned 308,284 shares of the company’s stock after selling 1,135 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Barnes Group were worth $10,210,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of 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. Bayesian Capital Management LP purchased a new position in shares of Barnes Group during the first quarter valued at approximately $340,000. Glenmede Trust Co. NA boosted its position in shares of Barnes Group by 2,900.0% in the first quarter. Glenmede Trust Co. NA now owns 10,410 shares of the company’s stock valued at $363,000 after buying an additional 10,063 shares during the last quarter. Capstone Asset Management Co. boosted its position 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, HBK Investments L P purchased a new position in shares of Barnes Group during the first quarter valued at approximately $580,000. Institutional investors and hedge funds own 83.55% of the company’s stock.
Barnes Group Inc. (NYSE:B) traded up 0.70% during mid-day trading on Friday, hitting $38.91. 133,776 shares of the stock were exchanged. The firm has a 50-day moving average price of $39.97 and a 200-day moving average price of $36.61. The stock has a market capitalization of $2.10 billion, a P/E ratio of 17.78 and a beta of 1.47. Barnes Group Inc. has a 12-month low of $30.07 and a 12-month high of $41.86.
Barnes Group (NYSE:B) last released its quarterly earnings results on Friday, July 29th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. Barnes Group had a return on equity of 11.69% and a net margin of 10.18%. The business earned $307 million during the quarter, compared to analysts’ expectations of $308.71 million. During the same period in the previous year, the business posted $0.62 earnings per share. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. Equities analysts predict that Barnes Group Inc. will post $2.51 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 8th. Shareholders of record on Wednesday, November 23rd will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.34%. Barnes Group’s dividend payout ratio is currently 23.74%.
Several research analysts have commented on B shares. Zacks Investment Research upgraded shares of Barnes Group from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Wednesday, September 28th. Jefferies Group raised their target price on shares of Barnes Group from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, August 1st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $40.17.
In other Barnes Group news, Director Thomas O. Barnes sold 730 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $41.46, for a total transaction of $30,265.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gary G. Benanav sold 9,901 shares of the business’s stock in a transaction dated 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. Company 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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