Barnes Thomas O

revealed that they own a 5.6% stake in Barnes Group, Inc. (NYSE:B) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Wednesday, September 13th. The investor owns 3,023,996 shares of the stock worth $194,382,463. The filing is available through the SEC website at this hyperlink.

A number of other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in Barnes Group by 1.3% during the second quarter. BlackRock Inc. now owns 6,147,376 shares of the industrial products company’s stock worth $359,804,000 after purchasing an additional 77,829 shares in the last quarter. Bank of America Corp DE raised its holdings in Barnes Group by 0.4% during 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 purchasing an additional 23,017 shares in the last quarter. Vanguard Group Inc. raised its holdings in Barnes Group by 1.2% during the second quarter. Vanguard Group Inc. now owns 4,588,211 shares of the industrial products company’s stock worth $268,548,000 after purchasing an additional 55,741 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Barnes Group by 0.5% during 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 purchasing an additional 19,233 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Barnes Group by 6.3% during the second quarter. Northern Trust Corp now owns 1,664,281 shares of the industrial products company’s stock worth $97,410,000 after purchasing an additional 98,189 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

A number of analysts have weighed in on the stock. BidaskClub raised shares of Barnes Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. ValuEngine raised shares of Barnes Group from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Deutsche Bank AG raised their price objective on shares of Barnes Group from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, September 8th. Oppenheimer Holdings, Inc. raised their price objective on shares of Barnes Group from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Monday, July 31st. Finally, Jefferies Group LLC reissued a “buy” rating and set a $66.00 price objective on shares of Barnes Group in a report on Thursday, June 8th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $62.60.

In other Barnes Group news, Director Thomas O. Barnes sold 2,000 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $59.93, for a total value of $119,860.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Marian Acker sold 6,000 shares of the stock in a transaction on 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. Over the last three months, insiders have sold 8,755 shares of company stock worth $528,361. Corporate insiders own 8.50% of the company’s stock.

Shares of Barnes Group, Inc. (B) traded up 0.33% during trading on Wednesday, hitting $64.49. 245,050 shares of the stock were exchanged. The stock’s 50 day moving average price is $60.86 and its 200 day moving average price is $56.28. The stock has a market cap of $3.47 billion, a PE ratio of 22.55 and a beta of 1.43. Barnes Group, Inc. has a one year low of $37.88 and a one year high of $65.61.

Barnes Group (NYSE:B) last announced its earnings results on Friday, July 28th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.12. Barnes Group had a return on equity of 13.02% and a net margin of 11.69%. The company had revenue of $364.49 million for the quarter, compared to analyst estimates of $337.69 million. During the same period in the prior year, the company posted $0.63 EPS. Barnes Group’s quarterly revenue was up 18.8% on a year-over-year basis. Equities research analysts predict that Barnes Group, Inc. will post $2.89 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Thursday, August 24th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Tuesday, August 22nd. Barnes Group’s dividend payout ratio is currently 19.58%.

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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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Institutional Ownership by Quarter for Barnes Group (NYSE:B)

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