We Are One Seven LLC bought a new stake in Barnes Group Inc. (NYSE:B) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 5,221 shares of the industrial products company’s stock, valued at approximately $330,000.
A number of other hedge funds have also recently added to or reduced their stakes in B. Wasatch Advisors Inc. increased its holdings in Barnes Group by 60.9% in the 4th quarter. Wasatch Advisors Inc. now owns 2,063,298 shares of the industrial products company’s stock valued at $130,545,000 after buying an additional 781,002 shares during the period. Deutsche Bank AG boosted its stake in shares of Barnes Group by 140.1% in the 4th quarter. Deutsche Bank AG now owns 127,364 shares of the industrial products company’s stock valued at $8,055,000 after purchasing an additional 74,320 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Barnes Group by 1.0% in the 4th quarter. BlackRock Inc. now owns 6,292,106 shares of the industrial products company’s stock valued at $398,101,000 after purchasing an additional 64,858 shares in the last quarter. Macquarie Group Ltd. boosted its stake in shares of Barnes Group by 3.5% in the 4th quarter. Macquarie Group Ltd. now owns 1,857,577 shares of the industrial products company’s stock valued at $117,529,000 after purchasing an additional 62,317 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Barnes Group by 222.2% in the 4th quarter. Arizona State Retirement System now owns 82,897 shares of the industrial products company’s stock valued at $5,245,000 after purchasing an additional 57,171 shares in the last quarter. 87.82% of the stock is currently owned by hedge funds and other institutional investors.
Shares of B stock opened at $59.25 on Friday. Barnes Group Inc. has a one year low of $48.21 and a one year high of $72.87. The company has a quick ratio of 1.67, a current ratio of 2.43 and a debt-to-equity ratio of 0.42. The firm has a market cap of $3,195.13, a P/E ratio of 55.37, a PEG ratio of 1.96 and a beta of 1.36.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 23rd were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.56 annualized dividend and a yield of 0.95%. Barnes Group’s dividend payout ratio is presently 52.34%.
In other Barnes Group news, Director Richard J. Hipple bought 1,300 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were acquired at an average cost of $62.06 per share, for a total transaction of $80,678.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas O. Barnes sold 1,700 shares of Barnes Group stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $63.36, for a total transaction of $107,712.00. The disclosure for this sale can be found here. 8.50% of the stock is owned by company insiders.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Barnes Group from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Tuesday. ValuEngine upgraded shares of Barnes Group from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, SunTrust Banks restated a “hold” rating and issued a $67.00 price target on shares of Barnes Group in a research note on Tuesday, January 9th. Three 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. The stock currently has a consensus rating of “Buy” and an average target price of $67.50.
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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