Mitsubishi UFJ Asset Management UK Ltd. Sells 9,700 Shares of Barnes Group Inc. (B)

Mitsubishi UFJ Asset Management UK Ltd. lessened its stake in Barnes Group Inc. (NYSE:B) by 42.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 13,000 shares of the industrial products company’s stock after selling 9,700 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Barnes Group were worth $822,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its position in Barnes Group by 143.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,027 shares of the industrial products company’s stock valued at $294,000 after acquiring an additional 2,963 shares during the period. Fisher Asset Management LLC acquired a new position in Barnes Group during the 3rd quarter worth approximately $6,274,000. Stifel Financial Corp increased its position in Barnes Group by 7.9% during the 3rd quarter. Stifel Financial Corp now owns 277,675 shares of the industrial products company’s stock worth $19,558,000 after purchasing an additional 20,403 shares during the period. Public Employees Retirement System of Ohio increased its position in Barnes Group by 65.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 51,147 shares of the industrial products company’s stock worth $3,603,000 after purchasing an additional 20,313 shares during the period. Finally, Wasatch Advisors Inc. increased its position in Barnes Group by 112.1% during the 3rd quarter. Wasatch Advisors Inc. now owns 1,282,296 shares of the industrial products company’s stock worth $90,325,000 after purchasing an additional 677,686 shares during the period. Hedge funds and other institutional investors own 86.29% of the company’s stock.

B has been the topic of several recent analyst reports. ValuEngine upgraded Barnes Group from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded Barnes Group from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research report on Wednesday, January 10th. SunTrust Banks reiterated a “hold” rating and set a $67.00 target price on shares of Barnes Group in a research report on Tuesday, January 9th. Finally, Robert W. Baird reiterated a “hold” rating and set a $65.00 target price on shares of Barnes Group in a research report on Sunday, October 29th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Barnes Group presently has a consensus rating of “Buy” and an average target price of $68.17.

Barnes Group Inc. (B) traded down $0.07 during midday trading on Friday, reaching $67.53. The company’s stock had a trading volume of 176,400 shares, compared to its average volume of 215,358. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.20 and a quick ratio of 1.45. Barnes Group Inc. has a 52 week low of $45.47 and a 52 week high of $72.87. The firm has a market cap of $3,624.07, a PE ratio of 23.78, a price-to-earnings-growth ratio of 2.16 and a beta of 1.36.

Barnes Group (NYSE:B) last announced its quarterly earnings results on Friday, October 27th. The industrial products company reported $0.66 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.03). The firm had revenue of $357.16 million for the quarter, compared to analysts’ expectations of $351.01 million. Barnes Group had a return on equity of 12.44% and a net margin of 11.20%. Barnes Group’s revenue was up 14.6% compared to the same quarter last year. During the same period last year, the firm earned $0.71 EPS. research analysts predict that Barnes Group Inc. will post 2.85 earnings per share for the current year.

In other news, SVP Christopher J. Stephens sold 15,700 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $63.53, for a total transaction of $997,421.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas O. Barnes sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $66.36, for a total value of $99,540.00. The disclosure for this sale can be found here. 8.50% of the stock is owned by insiders.

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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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Institutional Ownership by Quarter for Barnes Group (NYSE:B)

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