Aristotle Capital Boston LLC lifted its holdings in shares of Barnes Group Inc. (NYSE:B) by 2.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 271,109 shares of the industrial products company’s stock after purchasing an additional 7,539 shares during the quarter. Barnes Group accounts for 1.4% of Aristotle Capital Boston LLC’s holdings, making the stock its 16th largest position. Aristotle Capital Boston LLC’s holdings in Barnes Group were worth $19,257,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. increased its stake in Barnes Group by 0.5% in the third quarter. BlackRock Inc. now owns 6,858,512 shares of the industrial products company’s stock valued at $487,160,000 after acquiring an additional 32,213 shares during the last quarter. Wasatch Advisors Inc. increased its stake in Barnes Group by 24.4% in the third quarter. Wasatch Advisors Inc. now owns 3,153,172 shares of the industrial products company’s stock valued at $223,970,000 after acquiring an additional 618,888 shares during the last quarter. Macquarie Group Ltd. increased its stake in Barnes Group by 4.7% in the second quarter. Macquarie Group Ltd. now owns 1,865,556 shares of the industrial products company’s stock valued at $109,881,000 after acquiring an additional 83,240 shares during the last quarter. Congress Asset Management Co. MA increased its stake in Barnes Group by 1.3% in the third quarter. Congress Asset Management Co. MA now owns 1,326,588 shares of the industrial products company’s stock valued at $94,228,000 after acquiring an additional 16,915 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Barnes Group by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 674,853 shares of the industrial products company’s stock valued at $47,935,000 after acquiring an additional 7,152 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors.
A number of research analysts recently issued reports on B shares. UBS Group started coverage on shares of Barnes Group in a research note on Wednesday, August 15th. They issued a “buy” rating and a $80.00 price objective on the stock. DA Davidson set a $66.00 price objective on shares of Barnes Group and gave the company a “hold” rating in a research note on Monday, November 19th. Zacks Investment Research raised shares of Barnes Group from a “sell” rating to a “hold” rating in a research note on Wednesday, November 14th. SunTrust Banks decreased their price objective on shares of Barnes Group from $63.00 to $61.00 and set a “hold” rating on the stock in a research note on Monday, October 29th. Finally, ValuEngine cut shares of Barnes Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 6th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Barnes Group currently has an average rating of “Hold” and an average target price of $71.83.
NYSE B opened at $55.72 on Friday. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 19.35, a P/E/G ratio of 2.47 and a beta of 1.53. Barnes Group Inc. has a fifty-two week low of $52.42 and a fifty-two week high of $72.70. The company has a current ratio of 2.27, a quick ratio of 1.50 and a debt-to-equity ratio of 0.46.
Barnes Group (NYSE:B) last posted its earnings results on Friday, October 26th. The industrial products company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.03). The company had revenue of $369.80 million for the quarter, compared to the consensus estimate of $379.27 million. Barnes Group had a return on equity of 13.39% and a net margin of 4.60%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 EPS. As a group, sell-side analysts predict that Barnes Group Inc. will post 3.23 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Tuesday, November 27th will be paid a dividend of $0.16 per share. The ex-dividend date is Monday, November 26th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.15%. Barnes Group’s payout ratio is presently 22.22%.
In other news, Director Thomas O. Barnes sold 770 shares of Barnes Group stock in a transaction on Friday, November 30th. The shares were sold at an average price of $59.28, for a total transaction of $45,645.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Hassell H. Mcclellan sold 1,400 shares of Barnes Group stock in a transaction on Monday, November 26th. The stock was sold at an average price of $58.25, for a total transaction of $81,550.00. The disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.
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Barnes Group Company Profile
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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