Capital Fund Management S.A. purchased a new position in shares of Barnes Group, Inc. (NYSE:B) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,200 shares of the industrial products company’s stock, valued at approximately $304,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Citadel Advisors LLC purchased a new position in shares of Barnes Group during the 1st quarter valued at approximately $445,000. BNP Paribas Arbitrage SA increased its holdings in shares of Barnes Group by 1.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 11,794 shares of the industrial products company’s stock valued at $606,000 after purchasing an additional 171 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Barnes Group by 7.0% during the 2nd quarter. First Trust Advisors LP now owns 111,842 shares of the industrial products company’s stock valued at $6,546,000 after purchasing an additional 7,269 shares in the last quarter. Invictus RG purchased a new position in shares of Barnes Group during the 1st quarter valued at approximately $354,000. Finally, Stifel Financial Corp purchased a new position in shares of Barnes Group during the 1st quarter valued at approximately $9,198,000. 85.08% of the stock is owned by institutional investors.
B has been the subject of several recent research reports. Oppenheimer Holdings, Inc. lifted their target price on shares of Barnes Group from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Monday, July 31st. BidaskClub raised shares of Barnes Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Deutsche Bank AG lifted their target price on shares of Barnes Group from $65.00 to $70.00 and gave the company a “buy” rating in a report on Friday, September 8th. Jefferies Group LLC reaffirmed a “buy” rating and set a $66.00 target price on shares of Barnes Group in a report on Thursday, June 8th. Finally, ValuEngine raised shares of Barnes Group from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Barnes Group presently has a consensus rating of “Buy” and a consensus price target of $62.60.
Shares of Barnes Group, Inc. (NYSE B) opened at 67.37 on Wednesday. The company has a 50-day moving average of $61.72 and a 200-day moving average of $56.83. The firm has a market cap of $3.63 billion, a PE ratio of 23.56 and a beta of 1.43. Barnes Group, Inc. has a 1-year low of $37.88 and a 1-year high of $67.38.
Barnes Group (NYSE:B) last released its quarterly earnings data on Friday, July 28th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.12. The firm had revenue of $364.49 million during the quarter, compared to analysts’ expectations of $337.69 million. Barnes Group had a return on equity of 13.02% and a net margin of 11.69%. Barnes Group’s revenue was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.63 earnings per share. Analysts predict that Barnes Group, Inc. will post $2.90 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Thursday, August 24th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Tuesday, August 22nd. Barnes Group’s payout ratio is 19.58%.
In other news, Director Thomas O. Barnes sold 2,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $59.93, for a total value of $119,860.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Marian Acker sold 6,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $60.38, for a total value of $362,280.00. The disclosure for this sale can be found here. Insiders sold 8,755 shares of company stock valued at $528,361 in the last quarter. 8.50% of the stock is currently owned by company insiders.
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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