Municipal Employees Retirement System of Michigan lifted its stake in Barnes Group, Inc. (NYSE:B) by 52.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,250 shares of the industrial products company’s stock after purchasing an additional 6,930 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Barnes Group were worth $1,427,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of B. Pacad Investment Ltd. boosted its holdings in shares of Barnes Group by 5.9% during the second quarter. Pacad Investment Ltd. now owns 1,800 shares of the industrial products company’s stock worth $105,000 after acquiring an additional 100 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in shares of Barnes Group during the second quarter worth approximately $109,000. YorkBridge Wealth Partners LLC boosted its holdings in shares of Barnes Group by 4,461.8% during the third quarter. YorkBridge Wealth Partners LLC now owns 1,551 shares of the industrial products company’s stock worth $109,000 after acquiring an additional 1,517 shares during the period. LS Investment Advisors LLC boosted its holdings in shares of Barnes Group by 4.6% during the second quarter. LS Investment Advisors LLC now owns 1,942 shares of the industrial products company’s stock worth $114,000 after acquiring an additional 85 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Barnes Group by 9.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,092 shares of the industrial products company’s stock worth $122,000 after acquiring an additional 188 shares during the period. Institutional investors and hedge funds own 86.16% of the company’s stock.
Shares of Barnes Group, Inc. (B) traded down $0.32 during trading hours on Monday, hitting $64.60. 131,691 shares of the stock traded hands, compared to its average volume of 224,243. The firm has a market capitalization of $3,480.40, a P/E ratio of 22.78, a PEG ratio of 2.27 and a beta of 1.35. The company has a quick ratio of 1.45, a current ratio of 2.20 and a debt-to-equity ratio of 0.37. Barnes Group, Inc. has a 52 week low of $45.47 and a 52 week high of $72.87.
Barnes Group (NYSE:B) last announced its quarterly earnings results on Friday, October 27th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.03). Barnes Group had a return on equity of 12.44% and a net margin of 11.20%. The company had revenue of $357.16 million for the quarter, compared to analyst estimates of $351.01 million. During the same quarter last year, the company posted $0.71 earnings per share. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. sell-side analysts expect that Barnes Group, Inc. will post 2.85 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Wednesday, November 22nd will be paid a $0.14 dividend. The ex-dividend date is Tuesday, November 21st. This represents a $0.56 annualized dividend and a dividend yield of 0.87%. Barnes Group’s dividend payout ratio is 19.72%.
A number of equities research analysts have recently weighed in on the stock. SunTrust Banks reiterated a “hold” rating and issued a $60.00 price target on shares of Barnes Group in a research report on Thursday, October 12th. Zacks Investment Research downgraded shares of Barnes Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Deutsche Bank lifted their price target on shares of Barnes Group from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, September 8th. Robert W. Baird reiterated a “hold” rating and issued a $65.00 price target on shares of Barnes Group in a research report on Sunday, October 29th. Finally, ValuEngine upgraded shares of Barnes Group from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $65.60.
In other news, SVP Christopher J. Stephens sold 15,700 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $63.53, for a total transaction of $997,421.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas O. Barnes sold 1,500 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $66.36, for a total transaction of $99,540.00. The disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.
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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.
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