Barnes Group, Inc. (B) Shares Sold by Chartwell Investment Partners LLC
Chartwell Investment Partners LLC decreased its stake in Barnes Group, Inc. (NYSE:B) by 4.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 359,193 shares of the industrial products company’s stock after selling 15,375 shares during the period. Barnes Group makes up about 0.8% of Chartwell Investment Partners LLC’s investment portfolio, making the stock its 15th largest position. Chartwell Investment Partners LLC owned 0.66% of Barnes Group worth $21,024,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. LS Investment Advisors LLC boosted its stake in shares of Barnes Group by 4.6% in the second quarter. LS Investment Advisors LLC now owns 1,942 shares of the industrial products company’s stock valued at $114,000 after buying an additional 85 shares during the last quarter. Pitcairn Co. acquired a new stake in shares of Barnes Group during the second quarter valued at approximately $210,000. Kempner Capital Management Inc. acquired a new stake in shares of Barnes Group during the second quarter valued at approximately $222,000. Janney Montgomery Scott LLC acquired a new stake in shares of Barnes Group during the second quarter valued at approximately $234,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Barnes Group during the first quarter valued at approximately $209,000. Institutional investors own 83.53% of the company’s stock.
Barnes Group, Inc. (NYSE:B) opened at 59.56 on Friday. The stock’s 50 day moving average price is $59.85 and its 200 day moving average price is $54.58. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 20.83 and a beta of 1.43. Barnes Group, Inc. has a 52 week low of $37.88 and a 52 week high of $62.37.
Barnes Group (NYSE:B) last issued its quarterly earnings data on Friday, July 28th. The industrial products company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $364.49 million for the quarter, compared to analyst estimates of $337.69 million. Barnes Group had a return on equity of 13.02% and a net margin of 11.69%. Barnes Group’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS. On average, equities research analysts predict that Barnes Group, Inc. will post $2.89 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 24th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $0.56 dividend on an annualized basis and a yield of 0.94%. Barnes Group’s dividend payout ratio is currently 19.58%.
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Several equities analysts have recently issued reports on the company. BidaskClub lowered Barnes Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Oppenheimer Holdings, Inc. upped their price target on Barnes Group from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Monday, July 31st. Jefferies Group LLC reaffirmed a “buy” rating and set a $66.00 price target on shares of Barnes Group in a research note on Thursday, June 8th. Zacks Investment Research lowered Barnes Group from a “buy” rating to a “hold” rating in a research note on Friday, May 19th. Finally, ValuEngine raised Barnes Group from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $58.20.
In other Barnes Group news, Director Thomas O. Barnes sold 1,000 shares of Barnes Group stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $56.06, for a total transaction of $56,060.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Marian Acker sold 6,000 shares of Barnes Group stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $60.38, for a total value of $362,280.00. The disclosure for this sale can be found here. Insiders have sold a total of 11,000 shares of company stock worth $650,200 in the last 90 days. 8.50% of the stock is currently owned by corporate insiders.
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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