Eagle Asset Management Inc. Acquires 26,802 Shares of Barnes Group Inc. (B)
Eagle Asset Management Inc. raised its position in shares of Barnes Group Inc. (NYSE:B) by 6.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 454,318 shares of the company’s stock after buying an additional 26,802 shares during the period. Eagle Asset Management Inc. owned 0.84% of Barnes Group worth $18,422,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Pacad Investment Ltd. purchased a new position in Barnes Group during the second quarter valued at approximately $113,000. Fuller & Thaler Asset Management Inc. purchased a new position in Barnes Group during the second quarter valued at approximately $116,000. Quantbot Technologies LP raised its position in 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 last quarter. Tower Research Capital LLC TRC purchased a new position in Barnes Group during the second quarter valued at approximately $129,000. Finally, PineBridge Investments L.P. raised its position in Barnes Group by 3.4% in the second quarter. PineBridge Investments L.P. now owns 6,400 shares of the company’s stock valued at $212,000 after buying an additional 210 shares during the last quarter. 84.43% of the stock is owned by hedge funds and other institutional investors.
Barnes Group Inc. (NYSE:B) traded down 0.41% during mid-day trading on Tuesday, hitting $46.42. The company had a trading volume of 27,960 shares. The company has a 50-day moving average price of $41.29 and a 200 day moving average price of $38.13. Barnes Group Inc. has a 52-week low of $30.07 and a 52-week high of $46.97. The company has a market capitalization of $2.50 billion, a P/E ratio of 20.56 and a beta of 1.37.
Barnes Group (NYSE:B) last issued its earnings results on Friday, October 28th. The company reported $0.71 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $315.22 million. During the same period last year, the company earned $0.61 EPS. The company’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 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 8th. Shareholders of record on Wednesday, November 23rd will be paid 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 is Monday, November 21st. Barnes Group’s dividend payout ratio (DPR) is presently 23.11%.
Several research analysts have commented on B shares. Jefferies Group lifted 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. Zacks Investment Research raised shares of Barnes Group from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Wednesday, September 28th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Barnes Group presently has an average rating of “Buy” and an average target price of $40.17.
In other news, Director Thomas O. Barnes sold 3,000 shares of the stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $41.45, for a total transaction of $124,350.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Christopher J. Stephens sold 23,039 shares of the stock in a transaction on Friday, September 16th. The stock was sold at an average price of $38.76, for a total value of $892,991.64. The disclosure for this sale can be found here. 7.80% of the stock is 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.
Receive News & Stock Ratings for Barnes Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barnes Group Inc. and related stocks with our FREE daily email newsletter.