New York State Teachers Retirement System Cuts Stake in Barnes Group, Inc. (B)
New York State Teachers Retirement System decreased its position in shares of Barnes Group, Inc. (NYSE:B) by 2.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 134,256 shares of the industrial products company’s stock after selling 2,800 shares during the quarter. New York State Teachers Retirement System owned approximately 0.25% of Barnes Group worth $9,457,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of B. YorkBridge Wealth Partners LLC boosted its stake in Barnes Group by 4,461.8% in the 3rd quarter. YorkBridge Wealth Partners LLC now owns 1,551 shares of the industrial products company’s stock worth $109,000 after purchasing an additional 1,517 shares during the period. Parametrica Management Ltd bought a new position in Barnes Group in the 3rd quarter worth about $390,000. Crossmark Global Holdings Inc. bought a new position in Barnes Group in the 3rd quarter worth about $689,000. First Quadrant L P CA boosted its stake in Barnes Group by 421.7% in the 3rd quarter. First Quadrant L P CA now owns 7,152 shares of the industrial products company’s stock worth $504,000 after purchasing an additional 5,781 shares during the period. Finally, Aperio Group LLC boosted its stake in Barnes Group by 8.5% in the 3rd quarter. Aperio Group LLC now owns 24,822 shares of the industrial products company’s stock worth $1,748,000 after purchasing an additional 1,942 shares during the period. Institutional investors own 86.98% of the company’s stock.
In other Barnes Group news, Director Thomas O. Barnes sold 755 shares of Barnes Group stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $61.22, for a total value of $46,221.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 8.50% of the stock is owned by insiders.
Barnes Group, Inc. (NYSE:B) opened at $64.13 on Thursday. The firm has a market capitalization of $3,438.58, a PE ratio of 22.50, a P/E/G ratio of 2.25 and a beta of 1.37. The company has a current ratio of 2.20, a quick ratio of 1.45 and a debt-to-equity ratio of 0.37. Barnes Group, Inc. has a 1-year low of $39.85 and a 1-year high of $72.87.
Barnes Group (NYSE:B) last announced its quarterly earnings data on Friday, October 27th. The industrial products company reported $0.66 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.03). The firm had revenue of $357.16 million for the quarter, compared to analysts’ expectations of $351.01 million. Barnes Group had a net margin of 11.20% and a return on equity of 12.44%. The business’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 earnings per share. research analysts anticipate that Barnes Group, Inc. will post 2.85 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Wednesday, November 22nd will be paid a $0.14 dividend. The ex-dividend date is Tuesday, November 21st. This represents a $0.56 dividend on an annualized basis and a yield of 0.87%. Barnes Group’s dividend payout ratio (DPR) is currently 19.72%.
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B has been the subject of several analyst reports. SunTrust Banks, Inc. restated a “hold” rating and issued a $60.00 target price on shares of Barnes Group in a research note on Thursday, October 12th. Deutsche Bank AG lifted their price target 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 upgraded Barnes Group from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Oppenheimer Holdings, Inc. lifted their price target on Barnes Group from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Monday, July 31st. Finally, Robert W. Baird reiterated a “hold” rating and set a $65.00 price target on shares of Barnes Group in a research report on Sunday, October 29th. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $65.60.
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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