Barnes Group Inc. (B) Receives Average Rating of “Buy” from Brokerages
Barnes Group Inc. (NYSE:B) has been given an average rating of “Buy” by the seven ratings firms that are presently covering the company. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $41.00.
Several analysts recently issued reports on B shares. Zacks Investment Research raised Barnes Group from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Wednesday, September 28th. Jefferies Group raised their price target on Barnes Group from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, August 1st.
Barnes Group (NYSE:B) traded up 1.00% during mid-day trading on Tuesday, reaching $39.26. The company’s stock had a trading volume of 53,666 shares. The firm has a market capitalization of $2.11 billion, a P/E ratio of 17.94 and a beta of 1.47. The firm’s 50 day moving average price is $39.90 and its 200 day moving average price is $36.66. Barnes Group has a 52 week low of $30.07 and a 52 week high of $41.86.
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Barnes Group (NYSE:B) last released its earnings results on Friday, July 29th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. Barnes Group had a return on equity of 11.69% and a net margin of 10.18%. The company had revenue of $307 million for the quarter, compared to the consensus estimate of $308.71 million. During the same quarter last year, the business posted $0.62 EPS. Barnes Group’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, analysts anticipate that Barnes Group will post $2.51 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 8th. Investors of record on Wednesday, November 23rd will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.34%. The ex-dividend date is Monday, November 21st. Barnes Group’s dividend payout ratio is currently 23.74%.
In other news, SVP Christopher J. Stephens sold 23,039 shares of Barnes Group stock in a transaction on Friday, September 16th. The stock was sold at an average price of $38.76, for a total transaction of $892,991.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Dawn N. Edwards sold 5,700 shares of Barnes Group stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $40.24, for a total value of $229,368.00. The disclosure for this sale can be found here. 7.80% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of B. Mesirow Financial Investment Management Equity Management purchased a new position in shares of Barnes Group during the second quarter valued at about $21,825,000. Macquarie Group Ltd. boosted its position in shares of Barnes Group by 28.5% in the second quarter. Macquarie Group Ltd. now owns 1,710,686 shares of the company’s stock worth $56,658,000 after buying an additional 379,076 shares during the last quarter. Foundry Partners LLC bought a new position in shares of Barnes Group during the second quarter worth about $11,854,000. Dimensional Fund Advisors LP boosted its position in shares of Barnes Group by 7.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,345,611 shares of the company’s stock worth $110,804,000 after buying an additional 244,204 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Barnes Group by 5.7% in the second quarter. Vanguard Group Inc. now owns 3,966,594 shares of the company’s stock worth $131,374,000 after buying an additional 212,741 shares during the last quarter. Institutional investors own 83.54% of the company’s stock.
Barnes Group Company Profile
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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