Allianz Asset Management GmbH lessened its position in shares of Barnes Group, Inc. (NYSE:B) by 25.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 429,614 shares of the industrial products company’s stock after selling 146,358 shares during the period. Allianz Asset Management GmbH owned approximately 0.80% of Barnes Group worth $30,262,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. YorkBridge Wealth Partners LLC increased its position in Barnes Group by 4,461.8% during the 3rd quarter. YorkBridge Wealth Partners LLC now owns 1,551 shares of the industrial products company’s stock worth $109,000 after purchasing an additional 1,517 shares in the last quarter. Pacad Investment Ltd. increased its position in Barnes Group by 5.9% during the 2nd quarter. Pacad Investment Ltd. now owns 1,800 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 100 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Barnes Group during the 2nd quarter worth approximately $109,000. LS Investment Advisors LLC increased its position in Barnes Group by 4.6% during the 2nd quarter. LS Investment Advisors LLC now owns 1,942 shares of the industrial products company’s stock worth $114,000 after purchasing an additional 85 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Barnes Group by 9.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,092 shares of the industrial products company’s stock worth $122,000 after purchasing an additional 188 shares in the last quarter. 86.16% of the stock is owned by institutional investors.
Barnes Group, Inc. (NYSE B) opened at $64.20 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.20 and a quick ratio of 1.45. Barnes Group, Inc. has a 12-month low of $45.47 and a 12-month high of $72.87. The stock has a market cap of $3,441.83, a P/E ratio of 22.53, a price-to-earnings-growth ratio of 2.25 and a beta of 1.35.
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 Thomson Reuters’ consensus estimate of $0.69 by ($0.03). Barnes Group had a net margin of 11.20% and a return on equity of 12.44%. The business had revenue of $357.16 million during 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 company’s revenue was up 14.6% compared to the same quarter last year. equities research analysts predict that Barnes Group, Inc. will post 2.85 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Wednesday, November 22nd were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Tuesday, November 21st. Barnes Group’s dividend payout ratio (DPR) is currently 19.72%.
In other news, Director Thomas O. Barnes sold 1,500 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $66.36, for a total value of $99,540.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Christopher J. Stephens sold 15,700 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $63.53, for a total transaction of $997,421.00. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company’s stock.
A number of research firms recently issued reports on B. BidaskClub upgraded shares of Barnes Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. ValuEngine cut shares of Barnes Group from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Robert W. Baird restated a “hold” rating and issued a $65.00 price target on shares of Barnes Group in a research report on Sunday, October 29th. Deutsche Bank upped 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. Finally, Zacks Investment Research cut shares of Barnes Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Barnes Group has an average rating of “Buy” and an average target price of $65.60.
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Barnes Group 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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