Zacks Investment Research upgraded shares of Barnes Group (NYSE:B) from a hold rating to a buy rating in a report released on Tuesday. Zacks Investment Research currently has $70.00 price objective on the industrial products company’s stock.
According to Zacks, “Barnes Group Inc. is a global industrial and aerospace manufacturer and service provider, serving a wide range of end markets and customers. “
A number of other analysts have also issued reports on the company. ValuEngine raised Barnes Group from a hold rating to a buy rating in a report on Sunday, December 31st. SunTrust Banks reaffirmed a hold rating and issued a $67.00 target price on shares of Barnes Group in a report on Tuesday, January 9th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $67.50.
Barnes Group (B) opened at $61.42 on Tuesday. The company has a quick ratio of 1.67, a current ratio of 2.43 and a debt-to-equity ratio of 0.42. Barnes Group has a one year low of $48.21 and a one year high of $72.87. The firm has a market capitalization of $3,300.00, a P/E ratio of 57.40, a P/E/G ratio of 2.02 and a beta of 1.36.
Barnes Group (NYSE:B) last issued its quarterly earnings data on Friday, February 16th. The industrial products company reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. Barnes Group had a return on equity of 12.36% and a net margin of 4.15%. The business had revenue of $373.00 million for the quarter, compared to the consensus estimate of $357.77 million. During the same period last year, the business earned $0.67 EPS. The firm’s revenue was up 15.1% compared to the same quarter last year. research analysts predict that Barnes Group will post 3.07 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 23rd were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Thursday, February 22nd. Barnes Group’s dividend payout ratio (DPR) is currently 52.34%.
In other news, Director Thomas O. Barnes sold 1,700 shares of Barnes Group stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $63.36, for a total transaction of $107,712.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Marian Acker sold 7,860 shares of Barnes Group stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $63.12, for a total value of $496,123.20. The disclosure for this sale can be found here. Company insiders own 8.50% of the company’s stock.
Several large investors have recently made changes to their positions in B. Wasatch Advisors Inc. grew its holdings in shares of Barnes Group by 60.9% during the 4th quarter. Wasatch Advisors Inc. now owns 2,063,298 shares of the industrial products company’s stock worth $130,545,000 after purchasing an additional 781,002 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Barnes Group by 140.1% during the 4th quarter. Deutsche Bank AG now owns 127,364 shares of the industrial products company’s stock worth $8,055,000 after purchasing an additional 74,320 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Barnes Group by 1.0% during the 4th quarter. BlackRock Inc. now owns 6,292,106 shares of the industrial products company’s stock worth $398,101,000 after purchasing an additional 64,858 shares in the last quarter. Macquarie Group Ltd. grew its holdings in shares of Barnes Group by 3.5% during the 4th quarter. Macquarie Group Ltd. now owns 1,857,577 shares of the industrial products company’s stock worth $117,529,000 after purchasing an additional 62,317 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Barnes Group by 222.2% during the 4th quarter. Arizona State Retirement System now owns 82,897 shares of the industrial products company’s stock worth $5,245,000 after purchasing an additional 57,171 shares in the last quarter. 87.82% of the stock is currently owned by institutional investors.
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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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