Barnes Group Inc. (B) Insider Patrick Dempsey Sells 50,621 Shares
Barnes Group Inc. (NYSE:B) insider Patrick Dempsey sold 50,621 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $46.20, for a total transaction of $2,338,690.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of Barnes Group Inc. (NYSE:B) traded up 1.25% during mid-day trading on Thursday, hitting $46.82. 160,318 shares of the stock traded hands. The stock has a 50 day moving average price of $40.87 and a 200-day moving average price of $37.88. The company has a market cap of $2.52 billion, a P/E ratio of 20.74 and a beta of 1.37. Barnes Group Inc. has a one year low of $30.07 and a one year high of $46.93.
Barnes Group (NYSE:B) last announced its quarterly earnings results on Friday, October 28th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. Barnes Group had a return on equity of 12.10% and a net margin of 10.33%. The business earned $312 million during the quarter, compared to analysts’ expectations of $315.22 million. During the same quarter last year, the business posted $0.61 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, analysts forecast that Barnes Group Inc. will post $2.52 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Wednesday, November 23rd will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Monday, November 21st. Barnes Group’s dividend payout ratio is currently 23.11%.
Several research analysts have recently weighed in on B shares. Jefferies Group boosted their price target 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. Zacks Investment Research raised shares of Barnes Group from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Wednesday, September 28th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Barnes Group presently has an average rating of “Buy” and a consensus price target of $40.17.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Tocqueville Asset Management L.P. bought a new stake in Barnes Group during the second quarter worth approximately $331,000. Henderson Group PLC boosted its stake in Barnes Group by 57.6% in the second quarter. Henderson Group PLC now owns 581,073 shares of the company’s stock worth $19,245,000 after buying an additional 212,385 shares in the last quarter. Bank of Montreal Can bought a new stake in Barnes Group during the second quarter worth approximately $4,196,000. Eagle Boston Investment Management Inc. boosted its stake in Barnes Group by 2.7% in the second quarter. Eagle Boston Investment Management Inc. now owns 261,154 shares of the company’s stock worth $8,649,000 after buying an additional 6,744 shares in the last quarter. Finally, First National Bank of Omaha boosted its stake in Barnes Group by 26.3% in the second quarter. First National Bank of Omaha now owns 21,350 shares of the company’s stock worth $707,000 after buying an additional 4,450 shares in the last quarter. Institutional investors and hedge funds own 85.15% of the company’s stock.
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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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