Barnes Group, Inc. (NYSE:B) has been given a consensus recommendation of “Buy” by the eight analysts that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $58.20.

B has been the topic of several recent research reports. Sidoti downgraded Barnes Group from a “buy” rating to a “neutral” rating in a research note on Monday, April 24th. Jefferies Group LLC reissued a “buy” rating and issued a $63.00 price target on shares of Barnes Group in a research note on Tuesday, May 2nd. Zacks Investment Research raised Barnes Group from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Wednesday, May 3rd. ValuEngine raised Barnes Group from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, BidaskClub downgraded Barnes Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th.

In related news, Director Hassell H. Mcclellan sold 2,000 shares of Barnes Group stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $56.00, for a total value of $112,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Thomas O. Barnes sold 1,000 shares of Barnes Group stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $56.06, for a total value of $56,060.00. The disclosure for this sale can be found here. Insiders sold a total of 11,000 shares of company stock worth $650,200 in the last three months. Company insiders own 8.50% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Pacad Investment Ltd. increased its stake in Barnes Group by 5.9% in the second quarter. Pacad Investment Ltd. now owns 1,800 shares of the industrial products company’s stock worth $105,000 after buying an additional 100 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Barnes Group during the second quarter worth about $109,000. LS Investment Advisors LLC increased its stake in 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 worth $114,000 after buying an additional 85 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Barnes Group by 9.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,092 shares of the industrial products company’s stock worth $122,000 after buying an additional 188 shares in the last quarter. Finally, Acrospire Investment Management LLC increased its stake in Barnes Group by 16.0% in the second quarter. Acrospire Investment Management LLC now owns 2,178 shares of the industrial products company’s stock worth $127,000 after buying an additional 300 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

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Barnes Group (NYSE:B) opened at 59.97 on Friday. The company’s 50-day moving average price is $59.90 and its 200 day moving average price is $54.66. Barnes Group has a 52-week low of $37.88 and a 52-week high of $62.37. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 20.97 and a beta of 1.43.

Barnes Group (NYSE:B) last issued its quarterly earnings data on Friday, July 28th. The industrial products company reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.12. Barnes Group had a return on equity of 13.02% and a net margin of 11.69%. The business had revenue of $364.49 million for the quarter, compared to the consensus estimate of $337.69 million. During the same quarter last year, the business posted $0.63 EPS. The firm’s revenue was up 18.8% compared to the same quarter last year. Equities analysts predict that Barnes Group will post $2.89 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 24th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Tuesday, August 22nd. Barnes Group’s dividend payout ratio is 19.58%.

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.

Analyst Recommendations for Barnes Group (NYSE:B)

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