Envestnet Asset Management Inc. grew its position in shares of Barnes Group Inc. (NYSE:B) by 29.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 13,847 shares of the industrial products company’s stock after purchasing an additional 3,127 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Barnes Group were worth $974,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its position in Barnes Group by 143.6% during the second quarter. PNC Financial Services Group Inc. now owns 5,027 shares of the industrial products company’s stock valued at $294,000 after purchasing an additional 2,963 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in Barnes Group during the third quarter valued at $6,274,000. First Trust Advisors LP boosted its position in Barnes Group by 7.0% during the second quarter. First Trust Advisors LP now owns 111,842 shares of the industrial products company’s stock valued at $6,546,000 after purchasing an additional 7,269 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in Barnes Group by 52.4% during the second quarter. BNP Paribas Arbitrage SA now owns 17,979 shares of the industrial products company’s stock valued at $1,052,000 after buying an additional 6,185 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in shares of Barnes Group by 7.9% in the third quarter. Stifel Financial Corp now owns 277,675 shares of the industrial products company’s stock worth $19,558,000 after purchasing an additional 20,403 shares during the period. 86.29% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Barnes Group from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research note on Wednesday. SunTrust Banks reaffirmed a “hold” rating and set a $67.00 price objective on shares of Barnes Group in a report on Tuesday. ValuEngine downgraded Barnes Group from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Robert W. Baird reissued a “hold” rating and issued a $65.00 target price on shares of Barnes Group in a report on Sunday, October 29th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $68.17.
Barnes Group Inc. (NYSE:B) traded up $2.06 during mid-day trading on Thursday, reaching $67.63. 186,646 shares of the company traded hands, compared to its average volume of 221,506. The company has a market cap of $3,540.00, a PE ratio of 23.81, a PEG ratio of 2.14 and a beta of 1.35. Barnes Group Inc. has a 1 year low of $45.47 and a 1 year high of $72.87. 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 (NYSE:B) last issued its earnings results on Friday, October 27th. The industrial products company reported $0.66 EPS for the quarter, missing the 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 for the quarter, compared to the consensus estimate of $351.01 million. During the same quarter in the previous year, the firm posted $0.71 EPS. The business’s revenue was up 14.6% on a year-over-year basis. equities research analysts anticipate that Barnes Group Inc. will post 2.85 earnings per share for the current year.
In related news, Director Thomas O. Barnes sold 1,500 shares of the firm’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $66.36, for a total value of $99,540.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Christopher J. Stephens sold 15,700 shares of the firm’s 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 disclosure for this sale can be found here. 8.50% of the stock is currently owned by corporate insiders.
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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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