Macquarie Group Ltd. Has $56,658,000 Stake in Barnes Group Inc. (B)
Macquarie Group Ltd. raised its position in Barnes Group Inc. (NYSE:B) by 28.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,710,686 shares of the company’s stock after buying an additional 379,076 shares during the period. Macquarie Group Ltd. owned 3.18% of Barnes Group worth $56,658,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Pacad Investment Ltd. bought a new position in shares of Barnes Group during the second quarter valued at about $113,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of Barnes Group during the second quarter valued at about $116,000. Quantbot Technologies LP boosted its position in shares of Barnes Group by 59.5% in the second quarter. Quantbot Technologies LP now owns 3,763 shares of the company’s stock valued at $124,000 after buying an additional 1,404 shares in the last quarter. BlackRock Inc. boosted its position in shares of Barnes Group by 126.2% in the first quarter. BlackRock Inc. now owns 3,684 shares of the company’s stock valued at $129,000 after buying an additional 2,055 shares in the last quarter. Finally, Tower Research Capital LLC TRC bought a new position in shares of Barnes Group during the second quarter valued at about $129,000. Hedge funds and other institutional investors own 84.98% of the company’s stock.
Shares of Barnes Group Inc. (NYSE:B) traded up 2.35% on Friday, hitting $44.91. 268,401 shares of the stock traded hands. The stock has a market cap of $2.42 billion, a P/E ratio of 19.89 and a beta of 1.37. Barnes Group Inc. has a 52-week low of $30.07 and a 52-week high of $44.98. The stock’s 50 day moving average price is $39.77 and its 200 day moving average price is $37.17.
Barnes Group (NYSE:B) last posted its quarterly earnings results on Friday, October 28th. The company reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.04. The company had revenue of $312 million for the quarter, compared to the consensus estimate of $315.22 million. Barnes Group had a net margin of 10.33% and a return on equity of 12.10%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.61 EPS. On average, equities analysts expect that Barnes Group Inc. will post $2.52 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Investors of record on Wednesday, November 23rd will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.16%. The ex-dividend date is Monday, November 21st. Barnes Group’s dividend payout ratio is presently 23.11%.
Several equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of Barnes Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 1st. Jefferies Group boosted their price objective on shares of Barnes Group from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, August 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $40.17.
In other Barnes Group news, SVP Christopher J. Stephens sold 23,039 shares of the firm’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $38.76, for a total transaction of $892,991.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Thomas O. Barnes sold 3,000 shares of the firm’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $41.45, for a total transaction of $124,350.00. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by corporate 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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