Barnes Group Inc. (NYSE:B) Sees Large Increase in Short Interest

Barnes Group Inc. (NYSE:B) was the recipient of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 613,800 shares, a growth of 79.8% from the April 30th total of 341,400 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average trading volume of 225,900 shares, the short-interest ratio is presently 2.7 days.

Barnes Group stock traded up $0.16 during trading hours on Monday, hitting $53.20. The stock had a trading volume of 2,770 shares, compared to its average volume of 177,829. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.16 and a quick ratio of 1.46. The company has a market cap of $2.73 billion, a PE ratio of 16.45, a P/E/G ratio of 2.35 and a beta of 1.44. Barnes Group has a 12-month low of $49.06 and a 12-month high of $72.70. The stock has a 50-day simple moving average of $54.81.

Barnes Group (NYSE:B) last issued its earnings results on Friday, April 26th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. The business had revenue of $376.69 million during the quarter, compared to analysts’ expectations of $374.04 million. Barnes Group had a net margin of 10.72% and a return on equity of 14.01%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share. As a group, equities analysts forecast that Barnes Group will post 3.23 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 24th were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $0.64 annualized dividend and a yield of 1.20%. Barnes Group’s dividend payout ratio (DPR) is presently 19.88%.

In related news, Director Gary G. Benanav sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $55.86, for a total value of $698,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas O. Barnes sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $55.48, for a total transaction of $110,960.00. The disclosure for this sale can be found here. Insiders have sold a total of 16,250 shares of company stock valued at $906,230 over the last three months. Insiders own 8.35% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Norges Bank purchased a new position in shares of Barnes Group during the fourth quarter valued at approximately $30,187,000. Champlain Investment Partners LLC grew its position in Barnes Group by 50.4% during the first quarter. Champlain Investment Partners LLC now owns 1,276,260 shares of the industrial products company’s stock valued at $65,613,000 after buying an additional 427,895 shares during the period. Millennium Management LLC grew its position in Barnes Group by 206.1% during the fourth quarter. Millennium Management LLC now owns 219,745 shares of the industrial products company’s stock valued at $11,783,000 after buying an additional 147,950 shares during the period. Patriot Financial Group Insurance Agency LLC grew its position in Barnes Group by 29.9% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 451,709 shares of the industrial products company’s stock valued at $23,217,000 after buying an additional 104,075 shares during the period. Finally, Stifel Financial Corp grew its position in Barnes Group by 36.7% during the fourth quarter. Stifel Financial Corp now owns 208,420 shares of the industrial products company’s stock valued at $11,206,000 after buying an additional 55,971 shares during the period. 85.30% of the stock is owned by institutional investors and hedge funds.

B has been the topic of a number of analyst reports. DA Davidson decreased their target price on shares of Barnes Group to $56.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Zacks Investment Research upgraded shares of Barnes Group from a “sell” rating to a “hold” rating in a research report on Wednesday, February 27th. SunTrust Banks reiterated a “hold” rating and issued a $57.00 target price on shares of Barnes Group in a research report on Friday, February 22nd. Finally, Alembic Global Advisors initiated coverage on shares of Barnes Group in a report on Friday, May 17th. They issued an “overweight” rating and a $67.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $63.57.

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About Barnes Group

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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