Congress Asset Management Co. MA boosted its stake in shares of Barnes Group Inc. (NYSE:B) by 3.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,216,387 shares of the industrial products company’s stock after purchasing an additional 41,104 shares during the period. Congress Asset Management Co. MA owned approximately 2.27% of Barnes Group worth $76,961,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Barnes Group by 1.2% during the second quarter. Vanguard Group Inc. now owns 4,588,211 shares of the industrial products company’s stock worth $268,548,000 after acquiring an additional 55,741 shares during the period. Wasatch Advisors Inc. grew its holdings in shares of Barnes Group by 60.9% during the fourth quarter. Wasatch Advisors Inc. now owns 2,063,298 shares of the industrial products company’s stock worth $130,545,000 after buying an additional 781,002 shares in the last quarter. Macquarie Group Ltd. grew its holdings in shares of Barnes Group by 7.4% during the third quarter. Macquarie Group Ltd. now owns 1,795,260 shares of the industrial products company’s stock worth $126,458,000 after buying an additional 124,314 shares in the last quarter. State Street Corp grew its holdings in shares of Barnes Group by 3.8% during the second quarter. State Street Corp now owns 1,288,147 shares of the industrial products company’s stock worth $75,394,000 after buying an additional 47,590 shares in the last quarter. Finally, Rothschild Asset Management Inc. grew its holdings in shares of Barnes Group by 4.6% in the third quarter. Rothschild Asset Management Inc. now owns 694,348 shares of the industrial products company’s stock valued at $48,910,000 after purchasing an additional 30,567 shares during the period. Institutional investors and hedge funds own 86.19% of the company’s stock.
Barnes Group Inc. (NYSE B) traded up $0.47 during trading hours on Wednesday, hitting $60.64. The stock had a trading volume of 65,340 shares, compared to its average volume of 201,761. The firm has a market cap of $3,234.33, a P/E ratio of 21.17, a PEG ratio of 1.99 and a beta of 1.32. Barnes Group Inc. has a fifty-two week low of $47.86 and a fifty-two week 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.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 23rd will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Thursday, February 22nd. Barnes Group’s dividend payout ratio is presently 19.72%.
B has been the topic of several research reports. Robert W. Baird reissued a “hold” rating and set a $65.00 price target on shares of Barnes Group in a research report on Sunday, October 29th. ValuEngine upgraded shares of Barnes Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research lowered shares of Barnes Group from a “buy” rating to a “hold” rating in a research report on Tuesday, January 30th. Finally, SunTrust Banks reiterated a “hold” rating and issued a $67.00 price objective on shares of Barnes Group in a research report on Tuesday, January 9th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Barnes Group currently has a consensus rating of “Buy” and a consensus price target of $68.17.
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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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