BNP Paribas Arbitrage SA reduced its holdings in shares of Barnes Group Inc. (NYSE:B) by 33.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,178 shares of the industrial products company’s stock after selling 8,250 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Barnes Group were worth $969,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of B. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of 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 buying an additional 1,003 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Barnes Group during the fourth quarter valued at about $222,000. Landscape Capital Management L.L.C. bought a new position in shares of Barnes Group during the fourth quarter valued at about $233,000. Citadel Advisors LLC bought a new position in shares of Barnes Group during the fourth quarter valued at about $240,000. Finally, Suntrust Banks Inc. bought a new position in shares of Barnes Group during the fourth quarter valued at about $245,000. Hedge funds and other institutional investors own 86.66% of the company’s stock.
In other news, Director Thomas O. Barnes sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $59.14, for a total value of $118,280.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard J. Hipple purchased 500 shares of the stock in a transaction dated Friday, May 4th. The stock was acquired at an average cost of $53.55 per share, for a total transaction of $26,775.00. The disclosure for this purchase can be found here. Insiders own 8.50% of the company’s stock.
Shares of B stock opened at $58.68 on Friday. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 20.38, a P/E/G ratio of 2.70 and a beta of 1.34. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.56 and a current ratio of 2.27. Barnes Group Inc. has a 52 week low of $52.42 and a 52 week high of $72.87.
Barnes Group (NYSE:B) last announced its quarterly earnings data on Friday, April 27th. The industrial products company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. The business had revenue of $366.70 million for the quarter, compared to analyst estimates of $362.71 million. Barnes Group had a net margin of 4.12% and a return on equity of 12.17%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 earnings per share. research analysts predict that Barnes Group Inc. will post 3.1 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 8th. Shareholders of record on Friday, May 25th were given a $0.16 dividend. This is a positive change from Barnes Group’s previous quarterly dividend of $0.14. The ex-dividend date was Thursday, May 24th. This represents a $0.64 annualized dividend and a yield of 1.09%. Barnes Group’s payout ratio is currently 22.22%.
B has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Barnes Group from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Wednesday, March 28th. ValuEngine lowered shares of Barnes Group from a “buy” rating to a “hold” rating in a research report on Friday, April 27th. Finally, DA Davidson initiated coverage on shares of Barnes Group in a research report on Friday, May 18th. They set a “neutral” rating and a $63.00 price target on the stock. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $66.50.
About Barnes Group
Barnes Group Inc operates as an industrial and aerospace manufacturer, and service provider in the United States and internationally. Its Industrial segment offers precision components, products, and systems for applications serving various customers in end-markets, such as transportation, industrial equipment, consumer products, packaging, electronics, medical devices, and energy.
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