New York State Common Retirement Fund Buys 1,499 Shares of Barnes Group, Inc. (B)
New York State Common Retirement Fund boosted its stake in shares of Barnes Group, Inc. (NYSE:B) by 2.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,900 shares of the industrial products company’s stock after purchasing an additional 1,499 shares during the quarter. New York State Common Retirement Fund owned about 0.10% of Barnes Group worth $3,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of B. UBS Asset Management Americas Inc. boosted its position in Barnes Group by 40.9% during the first quarter. UBS Asset Management Americas Inc. now owns 30,227 shares of the industrial products company’s stock valued at $1,552,000 after purchasing an additional 8,778 shares in the last quarter. OppenheimerFunds Inc. boosted its position in Barnes Group by 21.9% during the first quarter. OppenheimerFunds Inc. now owns 18,810 shares of the industrial products company’s stock valued at $965,000 after purchasing an additional 3,380 shares in the last quarter. Legal & General Group Plc boosted its position in Barnes Group by 1.9% during the first quarter. Legal & General Group Plc now owns 88,252 shares of the industrial products company’s stock valued at $4,529,000 after purchasing an additional 1,673 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in Barnes Group during the first quarter valued at about $209,000. Finally, Vanguard Group Inc. boosted its position in Barnes Group by 5.5% during the first quarter. Vanguard Group Inc. now owns 4,532,470 shares of the industrial products company’s stock valued at $232,698,000 after purchasing an additional 235,065 shares in the last quarter. 85.09% of the stock is currently owned by institutional investors.
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In related news, Director Thomas O. Barnes sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $59.93, for a total value of $119,860.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Marian Acker sold 6,000 shares of the company’s 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,755 shares of company stock valued at $528,361. 8.50% of the stock is owned by company insiders.
Shares of Barnes Group, Inc. (B) opened at 71.89 on Friday. Barnes Group, Inc. has a 1-year low of $37.95 and a 1-year high of $73.84. The stock has a market capitalization of $3.87 billion, a PE ratio of 25.14 and a beta of 1.45. The firm has a 50-day moving average price of $68.52 and a 200-day moving average price of $60.10.
Barnes Group (NYSE:B) last released its quarterly earnings data on Friday, July 28th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $364.49 million during the quarter, compared to analysts’ expectations of $337.69 million. During the same period in the prior year, the firm posted $0.63 EPS. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. On average, equities research analysts forecast that Barnes Group, Inc. will post $2.90 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Wednesday, November 22nd will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.78%. Barnes Group’s dividend payout ratio is presently 19.58%.
A number of equities research analysts recently weighed in on B shares. Deutsche Bank AG raised their price objective on Barnes Group from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, September 8th. ValuEngine raised Barnes Group from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub downgraded Barnes Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $60.00 price objective on shares of Barnes Group in a research report on Thursday, October 12th. Finally, Oppenheimer Holdings, Inc. raised their price objective on Barnes Group from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Monday, July 31st. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Barnes Group presently has a consensus rating of “Buy” and an average price target of $65.75.
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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