Barnes Group Inc. (NYSE:B) Shares Bought by Diversified Trust Co
Diversified Trust Co lifted its position in shares of Barnes Group Inc. (NYSE:B) by 38.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,910 shares of the industrial products company’s stock after buying an additional 3,585 shares during the quarter. Diversified Trust Co’s holdings in Barnes Group were worth $461,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Advisor Group LLC purchased a new stake in shares of Barnes Group during the second quarter worth about $25,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Barnes Group during the second quarter worth about $77,000. Strs Ohio grew its holdings in shares of Barnes Group by 25.7% during the second quarter. Strs Ohio now owns 4,400 shares of the industrial products company’s stock worth $174,000 after buying an additional 900 shares in the last quarter. Advisor Group Holdings Inc. purchased a new stake in shares of Barnes Group during the first quarter worth about $187,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of Barnes Group during the first quarter worth about $201,000. Institutional investors and hedge funds own 86.42% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. Stephens restated a “sell” rating on shares of Barnes Group in a report on Friday, August 21st. Bank of America boosted their target price on shares of Barnes Group from $52.00 to $62.00 and gave the company an “underperform” rating in a report on Thursday, August 27th. Zacks Investment Research upgraded shares of Barnes Group from a “strong sell” rating to a “hold” rating and set a $38.00 target price for the company in a report on Tuesday, September 29th. Morgan Stanley boosted their target price on shares of Barnes Group from $56.00 to $66.00 and gave the company an “underweight” rating in a report on Thursday, September 3rd. Finally, SunTrust Banks decreased their price objective on shares of Barnes Group from $34.00 to $30.00 and set a “hold” rating for the company in a research note on Wednesday, July 15th. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $49.27.
Barnes Group (NYSE:B) last posted its earnings results on Tuesday, July 28th. The industrial products company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.07. Barnes Group had a net margin of 8.94% and a return on equity of 11.24%. The business had revenue of $236.00 million for the quarter, compared to analysts’ expectations of $239.02 million. During the same period in the previous year, the company posted $0.75 earnings per share. The business’s revenue for the quarter was down 36.6% compared to the same quarter last year. On average, research analysts expect that Barnes Group Inc. will post 1.63 EPS for the current fiscal year.
In other news, CFO Christopher J. Stephens sold 36,000 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $39.28, for a total transaction of $1,414,080.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Dawn N. Edwards sold 1,700 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $39.27, for a total transaction of $66,759.00. The disclosure for this sale can be found here. Insiders own 8.37% of the company’s stock.
Barnes Group Profile
Barnes Group Inc provides engineered products, industrial technologies, and innovative solutions in the United States and internationally. The company operates through two segments: Industrial and Aerospace. The Industrial segment offers precision components, products, and systems used by various customers in end-markets, such as transportation, industrial equipment, automation, personal care, packaging, electronics, and medical devices.
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