Barnes Group Inc. (B) Given Average Recommendation of “Buy” by Brokerages
Shares of Barnes Group Inc. (NYSE:B) have been assigned an average rating of “Buy” from the seven ratings firms that are currently covering the firm. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $39.75.
Several brokerages have issued reports on B. Zacks Investment Research downgraded shares of Barnes Group from a “buy” rating to a “hold” rating in a research report on Tuesday, November 1st. Jefferies Group increased their price objective on shares of Barnes Group from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, August 1st.
In related news, SVP Christopher J. Stephens sold 23,039 shares of the firm’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $38.76, for a total transaction of $892,991.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas O. Barnes sold 730 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $41.46, for a total value of $30,265.80. The disclosure for this sale can be found here. Insiders own 7.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in B. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Barnes Group by 148.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,698 shares of the company’s stock valued at $109,000 after buying an additional 1,613 shares during the period. Pacad Investment Ltd. purchased a new position in shares of Barnes Group during the second quarter valued at about $113,000. Fuller & Thaler Asset Management Inc. purchased 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 during the period. Finally, 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 during the period. Hedge funds and other institutional investors own 85.15% of the company’s stock.
Shares of Barnes Group (NYSE:B) traded up 1.30% during trading on Wednesday, hitting $46.84. 73,936 shares of the stock were exchanged. Barnes Group has a 12-month low of $30.07 and a 12-month high of $46.93. The firm has a 50 day moving average of $40.67 and a 200-day moving average of $37.81. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 20.74 and a beta of 1.37.
Barnes Group (NYSE:B) last posted its earnings results on Friday, October 28th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.04. The firm earned $312 million during 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 company’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 EPS. On average, analysts forecast that Barnes Group will post $2.52 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Wednesday, November 23rd will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Monday, November 21st. Barnes Group’s dividend payout ratio (DPR) is currently 23.11%.
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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.
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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