Insider Selling: Christopher J. Stephens Sells 10,074 Shares of Barnes Group Stock (B)
Barnes Group (NYSE:B) CFO Christopher J. Stephens sold 10,074 shares of Barnes Group stock on the open market in a transaction dated Monday, August 18th. The shares were sold at an average price of $34.78, for a total transaction of $350,373.72. Following the sale, the chief financial officer now directly owns 125,577 shares of the company’s stock, valued at approximately $4,367,568. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of research firms have recently commented on B. Analysts at Deutsche Bank downgraded shares of Barnes Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 29th. They now have a $40.00 price target on the stock, down previously from $46.00. Analysts at Jefferies Group cut their price target on shares of Barnes Group from $45.00 to $43.00 in a research note on Monday, July 28th.
Shares of Barnes Group (NYSE:B) traded up 0.46% during mid-day trading on Tuesday, hitting $35.03. The stock had a trading volume of 235,648 shares. Barnes Group has a 52-week low of $31.22 and a 52-week high of $40.92. The stock has a 50-day moving average of $36.35 and a 200-day moving average of $37.5. The company has a market cap of $1.904 billion and a price-to-earnings ratio of 19.23.
Barnes Group (NYSE:B) last posted its quarterly earnings results on Friday, July 25th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.59. The company had revenue of $322.00 million for the quarter, compared to the consensus estimate of $315.70 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, analysts predict that Barnes Group will post $2.27 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 10th. Investors of record on Thursday, August 28th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Tuesday, August 26th.
Barnes Group Inc (NYSE:B) is an international aerospace and industrial manufacturer and service provider, serving a range of end markets and customers.
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