Flinton Capital Management LLC cut its stake in shares of Barnes Group Inc. (NYSE:B) by 28.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,072 shares of the industrial products company’s stock after selling 8,988 shares during the period. Flinton Capital Management LLC’s holdings in Barnes Group were worth $1,460,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. raised its holdings in Barnes Group by 156.0% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,202 shares of the industrial products company’s stock valued at $156,000 after acquiring an additional 1,342 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Barnes Group by 47.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,095 shares of the industrial products company’s stock valued at $196,000 after acquiring an additional 1,003 shares during the period. Bessemer Group Inc. raised its holdings in Barnes Group by 2,284.0% during the fourth quarter. Bessemer Group Inc. now owns 3,123 shares of the industrial products company’s stock valued at $198,000 after acquiring an additional 2,992 shares during the period. Visionary Asset Management Inc. bought a new stake in Barnes Group during the third quarter valued at about $216,000. Finally, Virtu Financial LLC bought a new stake in Barnes Group during the fourth quarter valued at about $222,000. Institutional investors own 87.82% of the company’s stock.
In related news, Director Richard J. Hipple acquired 1,300 shares of Barnes Group stock in a transaction on Wednesday, February 21st. The shares were bought at an average cost of $62.06 per share, with a total value of $80,678.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas O. Barnes sold 1,700 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $63.36, for a total value of $107,712.00. The disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.
B has been the topic of several research reports. Zacks Investment Research raised Barnes Group from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a report on Wednesday, January 10th. ValuEngine raised Barnes Group from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, 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 analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Barnes Group currently has an average rating of “Buy” and a consensus price target of $67.00.
Shares of B stock traded down $1.53 during trading hours on Friday, hitting $59.88. The stock had a trading volume of 256,205 shares, compared to its average volume of 210,654. Barnes Group Inc. has a one year low of $49.31 and a one year high of $72.87. The company has a current ratio of 2.43, a quick ratio of 1.67 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $3,187.65, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 1.95 and a beta of 1.32.
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, topping the Thomson Reuters’ 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 company had revenue of $373.00 million for the quarter, compared to analysts’ expectations of $357.77 million. During the same period in the previous year, the firm posted $0.67 earnings per share. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. research analysts predict that Barnes Group Inc. will post 3.07 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 23rd were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.56 annualized dividend and a yield of 0.94%. Barnes Group’s payout ratio is currently 19.44%.
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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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