WBI Investments Inc. Raises Holdings in Barnes Group, Inc. (B)
WBI Investments Inc. grew its holdings in shares of Barnes Group, Inc. (NYSE:B) by 6.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 91,963 shares of the industrial products company’s stock after purchasing an additional 5,353 shares during the period. WBI Investments Inc. owned 0.17% of Barnes Group worth $5,383,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the business. Pacad Investment Ltd. grew its position in Barnes Group by 5.9% in the 2nd quarter. Pacad Investment Ltd. now owns 1,800 shares of the industrial products company’s stock valued at $105,000 after buying an additional 100 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in Barnes Group in the 2nd quarter valued at about $109,000. LS Investment Advisors LLC grew its position in Barnes Group by 4.6% in the 2nd 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Barnes Group by 9.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,092 shares of the industrial products company’s stock valued at $122,000 after buying an additional 188 shares in the last quarter. Finally, Riverhead Capital Management LLC grew its position in Barnes Group by 54.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,629 shares of the industrial products company’s stock valued at $154,000 after buying an additional 929 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Barnes Group from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Monday, May 22nd. BidaskClub lowered shares of Barnes Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. ValuEngine upgraded shares of 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 issued a $66.00 price target on shares of Barnes Group in a report on Thursday, June 8th. Finally, Deutsche Bank AG upped their price target on shares of Barnes Group from $65.00 to $70.00 and gave the company a “buy” rating in a report on Friday. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Barnes Group presently has an average rating of “Buy” and a consensus price target of $62.60.
Barnes Group, Inc. (NYSE B) remained flat at $64.50 during mid-day trading on Tuesday. 66,919 shares of the stock were exchanged. The company has a market capitalization of $3.47 billion, a PE ratio of 22.55 and a beta of 1.43. The firm has a 50 day moving average price of $60.64 and a 200-day moving average price of $56.12. Barnes Group, Inc. has a 12 month low of $37.88 and a 12 month high of $65.20.
Barnes Group (NYSE:B) last announced its quarterly earnings data on Friday, July 28th. The industrial products company reported $0.81 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.12. The firm had revenue of $364.49 million during 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%. The company’s revenue was up 18.8% on a year-over-year basis. During the same period last year, the company earned $0.63 earnings per share. Analysts anticipate that Barnes Group, Inc. will post $2.89 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Thursday, August 24th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, August 22nd. This represents a $0.56 annualized dividend and a dividend yield of 0.87%. Barnes Group’s payout ratio is currently 19.58%.
In other news, VP Marian Acker sold 6,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $60.38, for a total transaction of $362,280.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas O. Barnes sold 755 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $61.22, for a total value of $46,221.10. The disclosure for this sale can be found here. Insiders have sold a total of 8,755 shares of company stock valued at $528,361 over the last 90 days. Corporate insiders own 8.50% 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.
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.