King Luther Capital Management Corp decreased its holdings in shares of Barnes Group, Inc. (NYSE:B) by 42.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 209,933 shares of the industrial products company’s stock after selling 153,521 shares during the quarter. King Luther Capital Management Corp owned 0.39% of Barnes Group worth $14,788,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pacad Investment Ltd. raised its stake in Barnes Group by 5.9% during the second quarter. Pacad Investment Ltd. now owns 1,800 shares of the industrial products company’s stock worth $105,000 after acquiring an additional 100 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Barnes Group during the second quarter worth about $109,000. YorkBridge Wealth Partners LLC raised its stake in Barnes Group by 4,461.8% during the third quarter. YorkBridge Wealth Partners LLC now owns 1,551 shares of the industrial products company’s stock worth $109,000 after acquiring an additional 1,517 shares in the last quarter. LS Investment Advisors LLC raised its stake in Barnes Group by 4.6% during the second quarter. LS Investment Advisors LLC now owns 1,942 shares of the industrial products company’s stock worth $114,000 after acquiring an additional 85 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Barnes Group by 9.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,092 shares of the industrial products company’s stock worth $122,000 after acquiring an additional 188 shares in the last quarter. 86.16% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Thomas O. Barnes sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $66.36, for a total value of $99,540.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Christopher J. Stephens sold 15,700 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $63.53, for a total value of $997,421.00. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company’s stock.

Several research analysts have commented on B shares. Deutsche Bank boosted their target price on Barnes Group from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, September 8th. ValuEngine raised Barnes Group from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research downgraded Barnes Group from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Robert W. Baird reaffirmed a “hold” rating and issued a $65.00 price objective on shares of Barnes Group in a research note on Sunday, October 29th. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $60.00 price objective on shares of Barnes Group in a research note on Thursday, October 12th. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Barnes Group currently has an average rating of “Buy” and an average price target of $65.60.

Barnes Group, Inc. (NYSE:B) opened at $64.56 on Wednesday. Barnes Group, Inc. has a 52 week low of $45.47 and a 52 week high of $72.87. The company has a quick ratio of 1.45, a current ratio of 2.20 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $3,463.24, a P/E ratio of 22.67, a PEG ratio of 2.26 and a beta of 1.35.

Barnes Group (NYSE:B) last released its quarterly earnings data on Friday, October 27th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.03). Barnes Group had a net margin of 11.20% and a return on equity of 12.44%. The firm had revenue of $357.16 million during the quarter, compared to analyst estimates of $351.01 million. During the same period in the prior year, the company earned $0.71 EPS. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. analysts expect that Barnes Group, Inc. will post 2.85 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 22nd will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Tuesday, November 21st. Barnes Group’s dividend payout ratio is currently 19.72%.

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

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