Dubuque Bank & Trust Co. raised its stake in shares of Barnes Group, Inc. (NYSE:B) by 8.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,563 shares of the industrial products company’s stock after buying an additional 360 shares during the period. Dubuque Bank & Trust Co.’s holdings in Barnes Group were worth $267,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in B. LS Investment Advisors LLC increased its stake in shares of Barnes Group by 4.6% in the second quarter. LS Investment Advisors LLC now owns 1,942 shares of the industrial products company’s stock valued at $114,000 after buying an additional 85 shares in the last quarter. Fruth Investment Management acquired a new stake in shares of Barnes Group during the first quarter valued at $205,000. Teacher Retirement System of Texas acquired a new stake in shares of Barnes Group during the first quarter valued at $209,000. Verity Asset Management Inc. acquired a new stake in shares of Barnes Group during the first quarter valued at $215,000. Finally, Kempner Capital Management Inc. acquired a new stake in shares of Barnes Group during the second quarter valued at $222,000. Institutional investors own 85.71% of the company’s stock.
Shares of Barnes Group, Inc. (B) traded down 1.70% during trading on Friday, hitting $60.83. 351,836 shares of the stock traded hands. Barnes Group, Inc. has a one year low of $35.96 and a one year high of $62.37. The company has a market cap of $3.27 billion, a PE ratio of 22.95 and a beta of 1.43. The firm has a 50 day moving average price of $59.01 and a 200-day moving average price of $52.85.
Barnes Group (NYSE:B) last posted its quarterly earnings data on Friday, April 28th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.11. Barnes Group had a net margin of 11.30% and a return on equity of 12.49%. The company had revenue of $341.80 million for the quarter, compared to the consensus estimate of $314.81 million. During the same quarter in the previous year, the firm posted $0.54 EPS. The business’s revenue was up 18.6% compared to the same quarter last year. Analysts anticipate that Barnes Group, Inc. will post $2.78 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 24th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $0.56 annualized dividend and a dividend yield of 0.92%. Barnes Group’s payout ratio is 21.13%.
Several analysts have recently weighed in on the company. Zacks Investment Research upgraded Barnes Group from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research note on Monday, May 22nd. Jefferies Group LLC restated a “buy” rating and set a $63.00 target price on shares of Barnes Group in a research note on Tuesday, May 2nd. ValuEngine upgraded Barnes Group from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Sidoti downgraded Barnes Group from a “buy” rating to a “neutral” rating in a research note on Monday, April 24th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $56.00.
In other news, SVP Dawn N. Edwards sold 6,150 shares of the business’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $55.30, for a total transaction of $340,095.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Christopher J. Stephens sold 13,600 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $54.88, for a total transaction of $746,368.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,250 shares of company stock worth $1,552,653. Insiders own 8.50% of the company’s stock.
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.
Receive News & Ratings for Barnes Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barnes Group Inc. and related companies with our FREE daily email newsletter.