Oppenheimer Asset Management Inc. Has $465,000 Stock Holdings in Barnes Group Inc. (NYSE:B)
Oppenheimer Asset Management Inc. trimmed its stake in shares of Barnes Group Inc. (NYSE:B) by 5.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,248 shares of the industrial products company’s stock after selling 510 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Barnes Group were worth $465,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Champlain Investment Partners LLC grew its position in shares of Barnes Group by 50.4% in the first quarter. Champlain Investment Partners LLC now owns 1,276,260 shares of the industrial products company’s stock valued at $65,613,000 after purchasing an additional 427,895 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in Barnes Group during the 1st quarter worth $3,425,000. Public Employees Retirement Association of Colorado increased its position in Barnes Group by 11.9% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 443,183 shares of the industrial products company’s stock worth $24,969,000 after buying an additional 46,995 shares during the period. First Trust Advisors LP increased its position in Barnes Group by 322.3% during the 2nd quarter. First Trust Advisors LP now owns 60,337 shares of the industrial products company’s stock worth $3,399,000 after buying an additional 46,050 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Barnes Group by 8.8% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 491,623 shares of the industrial products company’s stock worth $27,583,000 after buying an additional 39,914 shares in the last quarter. 85.86% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently commented on B shares. Alembic Global Advisors started coverage on shares of Barnes Group in a research note on Friday, May 17th. They issued an “overweight” rating and a $67.00 price target on the stock. SunTrust Banks lowered shares of Barnes Group from a “hold” rating to a “sell” rating and lowered their price target for the stock from $53.00 to $48.00 in a research report on Friday, June 14th. ValuEngine cut shares of Barnes Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. Zacks Investment Research downgraded shares of Barnes Group from a “hold” rating to a “sell” rating and set a $55.00 price objective for the company. in a report on Thursday, August 1st. Finally, UBS Group decreased their target price on shares of Barnes Group from $60.00 to $56.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 30th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Barnes Group presently has a consensus rating of “Hold” and an average target price of $60.67.
Barnes Group stock traded up $0.80 during mid-day trading on Wednesday, reaching $51.34. 3,681 shares of the company were exchanged, compared to its average volume of 200,856. The firm has a market cap of $2.46 billion, a PE ratio of 16.01, a PEG ratio of 2.21 and a beta of 1.46. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.13 and a quick ratio of 1.43. The company has a fifty day simple moving average of $46.79 and a 200-day simple moving average of $52.72. Barnes Group Inc. has a 12 month low of $42.39 and a 12 month high of $72.70.
Barnes Group (NYSE:B) last released its earnings results on Friday, July 26th. The industrial products company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). Barnes Group had a net margin of 9.95% and a return on equity of 13.20%. The company had revenue of $371.70 million for the quarter, compared to the consensus estimate of $387.29 million. During the same quarter in the previous year, the company posted $0.90 earnings per share. The business’s revenue was down 1.0% compared to the same quarter last year. Sell-side analysts anticipate that Barnes Group Inc. will post 3.14 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.64 annualized dividend and a yield of 1.25%. Barnes Group’s dividend payout ratio is 19.88%.
Barnes Group Profile
Barnes Group Inc operates as an industrial and aerospace manufacturer, and service provider in the United States and internationally. Its Industrial segment offers precision components, products, and systems for applications serving various customers in end-markets, such as transportation, industrial equipment, automation, personal care, packaging, electronics, and medical devices.
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