Zacks Investment Research upgraded shares of Barnes Group (NYSE:B) from a hold rating to a buy rating in a research note published on Tuesday. Zacks Investment Research currently has $70.00 target price on the industrial products company’s stock.
According to Zacks, “Barnes Group Inc. is a global industrial and aerospace manufacturer and service provider, serving a wide range of end markets and customers. “
A number of other equities research analysts have also recently issued reports on B. ValuEngine upgraded Barnes Group from a hold rating to a buy rating in a research note on Sunday, December 31st. SunTrust Banks reiterated a hold rating and issued a $67.00 target price on shares of Barnes Group in a research note on Tuesday, January 9th. Three research analysts have rated the stock with a hold rating, five have assigned 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 price target of $67.50.
Barnes Group (NYSE:B) last announced its quarterly earnings data on Friday, February 16th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.03. The firm had revenue of $373.00 million for the quarter, compared to analysts’ expectations of $357.77 million. Barnes Group had a return on equity of 12.36% and a net margin of 4.15%. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period last year, the business posted $0.67 earnings per share. analysts predict that Barnes Group will post 3.07 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Friday, February 23rd were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Thursday, February 22nd. Barnes Group’s dividend payout ratio (DPR) is 52.34%.
In other news, Director Thomas O. Barnes sold 1,700 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $63.36, for a total transaction of $107,712.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Marian Acker sold 7,860 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $63.12, for a total value of $496,123.20. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of B. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Barnes Group by 156.0% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,202 shares of the industrial products company’s stock valued at $156,000 after purchasing an additional 1,342 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Barnes Group by 47.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,095 shares of the industrial products company’s stock valued at $196,000 after purchasing an additional 1,003 shares during the period. Bessemer Group Inc. increased its holdings in shares of Barnes Group by 2,284.0% during the fourth quarter. Bessemer Group Inc. now owns 3,123 shares of the industrial products company’s stock valued at $198,000 after purchasing an additional 2,992 shares during the period. Visionary Asset Management Inc. acquired a new position in shares of Barnes Group during the third quarter valued at $216,000. Finally, Virtu Financial LLC acquired a new position in shares of Barnes Group during the fourth quarter valued at $222,000. 87.82% of the stock is currently owned by institutional investors.
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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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