Pitcairn Co. grew its stake in Barnes Group Inc. (NYSE:B) by 7.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,271 shares of the industrial products company’s stock after purchasing an additional 445 shares during the period. Pitcairn Co.’s holdings in Barnes Group were worth $248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of B. US Bancorp DE grew its position in Barnes Group by 10.0% in the first quarter. US Bancorp DE now owns 26,495 shares of the industrial products company’s stock worth $1,108,000 after acquiring an additional 2,417 shares during the period. Norges Bank purchased a new position in Barnes Group in the fourth quarter worth approximately $35,917,000. UBS Asset Management Americas Inc. grew its position in Barnes Group by 2.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 56,123 shares of the industrial products company’s stock worth $3,477,000 after acquiring an additional 1,113 shares during the period. Man Group plc grew its position in Barnes Group by 521.0% in the fourth quarter. Man Group plc now owns 40,576 shares of the industrial products company’s stock worth $2,514,000 after acquiring an additional 34,042 shares during the period. Finally, Invesco Ltd. grew its position in Barnes Group by 27.8% in the first quarter. Invesco Ltd. now owns 110,077 shares of the industrial products company’s stock worth $4,604,000 after acquiring an additional 23,971 shares during the period. Institutional investors and hedge funds own 87.03% of the company’s stock.
Shares of NYSE B opened at $36.87 on Friday. The stock has a market cap of $1.86 billion, a P/E ratio of 16.17, a PEG ratio of 2.11 and a beta of 1.14. The company has a current ratio of 1.99, a quick ratio of 1.47 and a debt-to-equity ratio of 0.57. Barnes Group Inc. has a 12-month low of $30.22 and a 12-month high of $68.60. The business’s fifty day simple moving average is $38.58 and its 200-day simple moving average is $45.50.
Barnes Group (NYSE:B) last announced its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.07. The business had revenue of $236.00 million for the quarter, compared to analysts’ expectations of $239.02 million. Barnes Group had a return on equity of 11.24% and a net margin of 8.94%. The company’s revenue for the quarter was down 36.6% compared to the same quarter last year. During the same period last year, the firm earned $0.75 earnings per share. On average, equities analysts forecast that Barnes Group Inc. will post 1.73 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 27th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Wednesday, August 26th. Barnes Group’s dividend payout ratio is presently 19.94%.
B has been the subject of several analyst reports. SunTrust Banks lowered their price objective on Barnes Group from $34.00 to $30.00 and set a “hold” rating for the company in a research report on Wednesday, July 15th. Deutsche Bank raised their price target on Barnes Group from $61.00 to $64.00 and gave the stock a “hold” rating in a research report on Wednesday, June 10th. Zacks Investment Research lowered Barnes Group from a “hold” rating to a “strong sell” rating and set a $40.00 price target for the company. in a research report on Thursday. Wells Fargo & Co raised their price target on Barnes Group from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, Alembic Global Advisors upgraded Barnes Group from a “neutral” rating to an “overweight” rating and set a $57.00 price target for the company in a research report on Tuesday, June 9th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $47.50.
Barnes Group Company Profile
Barnes Group Inc operates as an industrial and aerospace manufacturer, and service provider in the United States and internationally. Its Industrial segment offers precision components, products, and systems for applications serving various customers in end-markets, such as transportation, industrial equipment, automation, personal care, packaging, electronics, and medical devices.
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