Barnes Group, Inc. (B) Stake Reduced by AQR Capital Management LLC
AQR Capital Management LLC lowered its position in shares of Barnes Group, Inc. (NYSE:B) by 0.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,319 shares of the industrial products company’s stock after selling 478 shares during the period. AQR Capital Management LLC owned 0.10% of Barnes Group worth $2,840,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Barnes Group by 40,783.4% in the first quarter. BlackRock Inc. now owns 6,069,547 shares of the industrial products company’s stock worth $311,610,000 after buying an additional 6,054,701 shares in the last quarter. Bank of America Corp DE raised its stake in Barnes Group by 0.4% in the first quarter. Bank of America Corp DE now owns 5,487,280 shares of the industrial products company’s stock worth $281,717,000 after buying an additional 23,017 shares in the last quarter. Vanguard Group Inc. raised its stake in Barnes Group by 5.5% in the first quarter. Vanguard Group Inc. now owns 4,532,470 shares of the industrial products company’s stock worth $232,698,000 after buying an additional 235,065 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Barnes Group by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,526,503 shares of the industrial products company’s stock worth $181,050,000 after buying an additional 19,233 shares in the last quarter. Finally, Macquarie Group Ltd. raised its stake in 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 worth $83,014,000 after buying an additional 9,047 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.
Shares of Barnes Group, Inc. (B) traded up 0.69% during midday trading on Friday, hitting $59.97. The stock had a trading volume of 311,500 shares. The stock has a 50 day moving average of $59.90 and a 200-day moving average of $54.66. The company has a market cap of $3.23 billion, a P/E ratio of 20.97 and a beta of 1.43. Barnes Group, Inc. has a one year low of $37.88 and a one year high of $62.37.
Barnes Group (NYSE:B) last issued its quarterly earnings results on Friday, July 28th. The industrial products company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $364.49 million during the quarter, compared to the consensus estimate of $337.69 million. Barnes Group had a return on equity of 13.02% and a net margin of 11.69%. Barnes Group’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.63 earnings per share. Analysts forecast that Barnes Group, Inc. will post $2.89 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 24th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Tuesday, August 22nd. Barnes Group’s dividend payout ratio is currently 19.58%.
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B has been the topic of a number of analyst reports. Sidoti lowered Barnes Group from a “buy” rating to a “neutral” rating in a research report on Monday, April 24th. Zacks Investment Research raised Barnes Group from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Monday, May 22nd. ValuEngine raised Barnes Group from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Jefferies Group LLC reissued a “buy” rating and set a $63.00 target price on shares of Barnes Group in a research report on Tuesday, May 2nd. Finally, Oppenheimer Holdings, Inc. raised their target price on Barnes Group from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Monday, July 31st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Barnes Group has a consensus rating of “Buy” and a consensus price target of $58.20.
In related news, VP Marian Acker sold 6,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $60.38, for a total value of $362,280.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas O. Barnes sold 1,000 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $56.06, for a total value of $56,060.00. The disclosure for this sale can be found here. Insiders sold 11,000 shares of company stock valued at $650,200 in the last three months. 8.50% of the stock is currently 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.
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