Zacks Investment Research upgraded shares of Barnes Group Inc. (NYSE:B) from a hold rating to a buy rating in a research report report published on Wednesday, May 3rd. They currently have $61.00 price target on the industrial products company’s stock.

According to Zacks, “Barnes Group Inc. is an international manufacturer of precision metal parts and distributor of industrial supplies, serving a wide range of markets and customers. “

A number of other equities research analysts have also weighed in on the stock. Jefferies Group LLC restated a buy rating and issued a $63.00 price objective on shares of Barnes Group in a report on Tuesday, May 2nd. SunTrust Banks, Inc. started coverage on shares of Barnes Group in a report on Thursday, January 19th. They set a hold rating and a $49.00 price target for the company. Finally, Sidoti lowered shares of Barnes Group from a buy rating to a neutral rating in a report on Monday, April 24th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $55.25.

Barnes Group (NYSE:B) traded up 1.35% on Wednesday, hitting $54.67. 196,311 shares of the stock were exchanged. The company has a 50-day moving average price of $52.82 and a 200 day moving average price of $48.83. Barnes Group has a 1-year low of $31.13 and a 1-year high of $56.51. The company has a market capitalization of $2.94 billion, a PE ratio of 20.63 and a beta of 1.45.

Barnes Group (NYSE:B) last released its quarterly earnings results on Friday, April 28th. The industrial products company reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.11. Barnes Group had a net margin of 10.33% and a return on equity of 12.10%. The business had revenue of $341.80 million during the quarter, compared to analysts’ expectations of $314.81 million. During the same quarter in the previous year, the company earned $0.54 EPS. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. Analysts anticipate that Barnes Group will post $2.78 EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Thursday, May 25th will be given a $0.14 dividend. The ex-dividend date is Tuesday, May 23rd. This is an increase from Barnes Group’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.04%. Barnes Group’s dividend payout ratio is currently 23.11%.

In other Barnes Group news, Director Thomas O. Barnes sold 2,500 shares of the company’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $54.56, for a total transaction of $136,400.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gary G. Benanav sold 12,735 shares of the company’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $49.97, for a total transaction of $636,367.95. The disclosure for this sale can be found here. Insiders have sold a total of 50,562 shares of company stock worth $2,651,572 over the last three months. 7.80% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of B. Rhumbline Advisers boosted its position in shares of Barnes Group by 4.1% in the third quarter. Rhumbline Advisers now owns 89,900 shares of the industrial products company’s stock valued at $3,645,000 after buying an additional 3,525 shares during the period. Gotham Asset Management LLC boosted its position in shares of Barnes Group by 310.4% in the third quarter. Gotham Asset Management LLC now owns 74,031 shares of the industrial products company’s stock valued at $3,002,000 after buying an additional 55,992 shares during the period. Macquarie Group Ltd. boosted its position in shares of Barnes Group by 0.5% in the fourth quarter. Macquarie Group Ltd. now owns 1,750,602 shares of the industrial products company’s stock valued at $83,014,000 after buying an additional 9,047 shares during the period. Rothschild Asset Management Inc. boosted its position in shares of Barnes Group by 5.4% in the third quarter. Rothschild Asset Management Inc. now owns 593,038 shares of the industrial products company’s stock valued at $24,048,000 after buying an additional 30,377 shares during the period. Finally, Martingale Asset Management L P acquired a new position in shares of Barnes Group during the fourth quarter valued at $1,558,000. Hedge funds and other institutional investors own 83.27% of the company’s stock.

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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