Barnes Group Inc. (NYSE:B) has earned an average rating of “Hold” from the eight research firms that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $60.67.
B has been the subject of several recent analyst reports. ValuEngine cut Barnes Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. SunTrust Banks lowered Barnes Group from a “hold” rating to a “sell” rating and decreased their target price for the stock from $53.00 to $48.00 in a research note on Friday, June 14th. Alembic Global Advisors started coverage on Barnes Group in a report on Friday, May 17th. They issued an “overweight” rating and a $67.00 price target on the stock. UBS Group dropped their price target on Barnes Group from $60.00 to $56.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Finally, Zacks Investment Research lowered Barnes Group from a “hold” rating to a “sell” rating and set a $55.00 price objective for the company. in a report on Thursday, August 1st.
NYSE:B traded up $1.33 during trading hours on Friday, hitting $51.87. The stock had a trading volume of 9,252 shares, compared to its average volume of 200,856. The company has a 50 day simple moving average of $46.79 and a two-hundred day simple moving average of $52.72. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 16.01, a P/E/G ratio of 2.21 and a beta of 1.46. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.13 and a quick ratio of 1.43. Barnes Group has a one year low of $42.39 and a one year high of $72.70.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Friday, August 23rd. Barnes Group’s dividend payout ratio is currently 19.88%.
In other Barnes Group news, VP Marian Acker sold 2,274 shares of Barnes Group stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $45.43, for a total transaction of $103,307.82. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mylle H. Mangum sold 1,000 shares of Barnes Group stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $51.89, for a total transaction of $51,890.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,739 shares of company stock valued at $175,263 over the last ninety days. 8.35% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Champlain Investment Partners LLC lifted its position in Barnes Group by 50.4% in 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 purchasing an additional 427,895 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in Barnes Group in the 2nd quarter worth $20,308,000. Invesco Ltd. grew its holdings in Barnes Group by 328.6% in the 2nd quarter. Invesco Ltd. now owns 333,945 shares of the industrial products company’s stock worth $18,814,000 after acquiring an additional 256,029 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of Barnes Group by 108.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 228,520 shares of the industrial products company’s stock valued at $12,874,000 after acquiring an additional 118,657 shares during the period. Finally, BlackRock Inc. increased its position in shares of Barnes Group by 1.7% in the second quarter. BlackRock Inc. now owns 7,047,330 shares of the industrial products company’s stock valued at $397,045,000 after acquiring an additional 114,410 shares during the period. 85.86% of the stock is currently owned by institutional investors.
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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