Public Employees Retirement Association of Colorado boosted its position in Barnes Group, Inc. (NYSE:B) by 6.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 399,506 shares of the industrial products company’s stock after buying an additional 22,803 shares during the period. Public Employees Retirement Association of Colorado owned approximately 0.74% of Barnes Group worth $23,383,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. LS Investment Advisors LLC raised its position in Barnes Group by 4.6% in the second quarter. LS Investment Advisors LLC now owns 1,942 shares of the industrial products company’s stock worth $114,000 after buying an additional 85 shares during the last quarter. Kempner Capital Management Inc. acquired a new position in Barnes Group during the second quarter worth approximately $222,000. Fruth Investment Management acquired a new position in Barnes Group during the first quarter worth approximately $205,000. Teacher Retirement System of Texas purchased a new position in shares of Barnes Group during the first quarter valued at about $209,000. Finally, Verity Asset Management Inc. bought a new stake in Barnes Group during the first quarter valued at $215,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.
Barnes Group, Inc. (B) opened at 59.97 on Friday. Barnes Group, Inc. has a 1-year low of $37.88 and a 1-year high of $62.37. The stock has a 50 day moving average price of $59.90 and a 200-day moving average price of $54.66. The stock has a market capitalization of $3.23 billion, a P/E ratio of 20.97 and a beta of 1.43.
Barnes Group (NYSE:B) last posted its quarterly earnings data on Friday, July 28th. The industrial products company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $364.49 million during the quarter, compared to analyst estimates of $337.69 million. Barnes Group had a net margin of 11.69% and a return on equity of 13.02%. The company’s revenue was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.63 earnings per share. Equities research analysts expect that Barnes Group, Inc. will post $2.89 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 24th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Tuesday, August 22nd. Barnes Group’s dividend payout ratio (DPR) is 19.58%.
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B has been the topic of several recent research reports. Sidoti downgraded Barnes Group from a “buy” rating to a “neutral” rating in a research note on Monday, April 24th. Jefferies Group LLC restated a “buy” rating and issued a $63.00 price target on shares of Barnes Group in a research note on Tuesday, May 2nd. Zacks Investment Research upgraded Barnes Group from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Wednesday, May 3rd. ValuEngine upgraded Barnes Group from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, BidaskClub downgraded Barnes Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Barnes Group presently has a consensus rating of “Buy” and an average price target of $58.20.
In other Barnes Group news, Director Hassell H. Mcclellan sold 2,000 shares of the stock in a transaction on Friday, May 26th. The shares were sold at an average price of $56.00, for a total transaction of $112,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas O. Barnes sold 1,000 shares of the stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $56.06, for a total transaction of $56,060.00. The disclosure for this sale can be found here. Insiders have sold 11,000 shares of company stock valued at $650,200 in the last ninety days. 8.50% of the stock is currently owned by company insiders.
Barnes Group Company Profile
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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