Christopher J. Stephens Sells 13,600 Shares of Barnes Group Inc. (B) Stock
Barnes Group Inc. (NYSE:B) SVP Christopher J. Stephens sold 13,600 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $54.88, for a total transaction of $746,368.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Barnes Group Inc. (NYSE:B) traded up 1.45% during midday trading on Friday, hitting $54.72. 252,859 shares of the stock traded hands. Barnes Group Inc. has a 52 week low of $31.13 and a 52 week high of $56.51. The stock’s 50-day moving average price is $52.82 and its 200 day moving average price is $48.83. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 20.65 and a beta of 1.45.
Barnes Group (NYSE:B) last posted its quarterly earnings results on Friday, April 28th. The industrial products company reported $0.71 EPS for the quarter, beating 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 company had revenue of $341.80 million during the quarter, compared to analyst estimates of $314.81 million. During the same period in the prior year, the business posted $0.54 EPS. The firm’s revenue was up 18.6% compared to the same quarter last year. On average, equities research analysts predict that Barnes Group Inc. will post $2.78 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Thursday, May 25th will be issued a dividend of $0.14 per share. This is a positive change from Barnes Group’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Tuesday, May 23rd. Barnes Group’s dividend payout ratio is currently 23.11%.
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B has been the subject of several analyst reports. Zacks Investment Research raised shares of Barnes Group from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research note on Wednesday, May 3rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $63.00 price target on shares of Barnes Group in a research note on Tuesday, May 2nd. SunTrust Banks, Inc. initiated coverage on shares of Barnes Group in a research note on Thursday, January 19th. They set a “hold” rating and a $49.00 price target for the company. Finally, Sidoti downgraded shares of Barnes Group from a “buy” rating to a “neutral” rating in a research note on Monday, April 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $55.25.
Large investors have recently bought and sold shares of the stock. Quadrature Capital Ltd purchased a new stake in Barnes Group during the third quarter worth approximately $202,000. Teton Advisors Inc. bought a new position in shares of Barnes Group during the fourth quarter valued at approximately $202,000. United Capital Financial Advisers LLC bought a new position in shares of Barnes Group during the fourth quarter valued at approximately $205,000. Miles Capital Inc. bought a new position in shares of Barnes Group during the fourth quarter valued at approximately $205,000. Finally, Fruth Investment Management bought a new position in shares of Barnes Group during the first quarter valued at approximately $205,000. Institutional investors own 83.27% of the company’s stock.
About Barnes Group
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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