California Public Employees Retirement System trimmed its holdings in Barnes Group Inc. (NYSE:B) by 10.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,692 shares of the industrial products company’s stock after selling 9,433 shares during the quarter. California Public Employees Retirement System owned about 0.16% of Barnes Group worth $4,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. Bank of Montreal Can increased its stake in Barnes Group by 12.1% in the 3rd quarter. Bank of Montreal Can now owns 9,167 shares of the industrial products company’s stock worth $650,000 after purchasing an additional 993 shares in the last quarter. First Trust Advisors LP increased its stake in Barnes Group by 331.3% in the 3rd quarter. First Trust Advisors LP now owns 15,058 shares of the industrial products company’s stock worth $1,070,000 after purchasing an additional 11,567 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Barnes Group in the 3rd quarter worth about $216,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Barnes Group by 9.9% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,244 shares of the industrial products company’s stock worth $799,000 after purchasing an additional 1,009 shares in the last quarter. Finally, Claraphi Advisory Network LLC purchased a new position in Barnes Group in the 3rd quarter worth about $247,000. 84.66% of the stock is currently owned by institutional investors.
Several research firms have weighed in on B. Zacks Investment Research raised Barnes Group from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. UBS Group cut Barnes Group from a “buy” rating to a “neutral” rating and lowered their target price for the company from $72.00 to $65.00 in a research note on Friday, February 15th. SunTrust Banks reaffirmed a “hold” rating and set a $57.00 target price on shares of Barnes Group in a research note on Friday, February 22nd. DA Davidson set a $66.00 target price on Barnes Group and gave the company a “hold” rating in a research note on Monday, November 19th. Finally, Sidoti raised Barnes Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 2nd. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $66.17.
NYSE:B opened at $55.03 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.51 and a current ratio of 2.25. Barnes Group Inc. has a fifty-two week low of $49.06 and a fifty-two week high of $72.70. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 2.46 and a beta of 1.47.
Barnes Group (NYSE:B) last released its earnings results on Friday, February 22nd. The industrial products company reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.02. Barnes Group had a return on equity of 13.95% and a net margin of 11.11%. The company had revenue of $384.10 million for the quarter, compared to analysts’ expectations of $391.37 million. During the same quarter in the previous year, the business posted $0.71 EPS. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities analysts forecast that Barnes Group Inc. will post 3.27 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Monday, February 25th were issued a dividend of $0.16 per share. The ex-dividend date was Friday, February 22nd. This represents a $0.64 annualized dividend and a dividend yield of 1.16%. Barnes Group’s dividend payout ratio is 19.88%.
In other news, CFO Christopher J. Stephens sold 13,200 shares of Barnes Group stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $58.94, for a total transaction of $778,008.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard J. Hipple purchased 1,000 shares of Barnes Group stock in a transaction dated Wednesday, February 27th. The shares were purchased at an average price of $58.83 per share, with a total value of $58,830.00. The disclosure for this purchase can be found here. 7.93% of the stock is owned by insiders.
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Barnes Group Profile
Barnes Group Inc operates as an industrial and aerospace manufacturer, and service provider in the United States and internationally. Its Industrial segment offers precision components, products, and systems for applications serving various customers in end-markets, such as transportation, industrial equipment, consumer products, packaging, electronics, medical devices, and energy.
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