Barnes Group Inc. (NYSE:B) CFO Christopher J. Stephens sold 13,200 shares of Barnes Group stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $58.94, for a total value of $778,008.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of B stock opened at $58.07 on Friday. 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 Inc. has a twelve month low of $49.06 and a twelve month high of $72.70. The company has a market capitalization of $3.01 billion, a P/E ratio of 18.03, a P/E/G ratio of 2.49 and a beta of 1.48.
Barnes Group (NYSE:B) last issued its quarterly earnings data on Friday, February 22nd. The industrial products company reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.02. Barnes Group had a return on equity of 13.39% and a net margin of 4.60%. The business had revenue of $384.10 million for the quarter, compared to the consensus estimate of $391.37 million. During the same period last year, the business earned $0.71 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. On average, research analysts forecast that Barnes Group Inc. will post 3.4 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 8th. Investors of record on Monday, February 25th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Friday, February 22nd. Barnes Group’s payout ratio is 19.88%.
B has been the topic of a number of recent analyst reports. Zacks Investment Research raised Barnes Group from a “sell” rating to a “hold” rating in a research note on Tuesday, November 6th. DA Davidson set a $66.00 price objective on Barnes Group and gave the company a “hold” rating in a research note on Monday, November 19th. Sidoti raised Barnes Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 2nd. UBS Group downgraded Barnes Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $72.00 to $65.00 in a research note on Friday, February 15th. Finally, SunTrust Banks reissued a “hold” rating and issued a $57.00 price objective on shares of Barnes Group in a research note on Friday, February 22nd. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $66.17.
Hedge funds have recently modified their holdings of the stock. Doyle Wealth Management bought a new position in Barnes Group in the 4th quarter worth approximately $26,000. Private Capital Group LLC increased its position in Barnes Group by 213.2% in the 4th quarter. Private Capital Group LLC now owns 758 shares of the industrial products company’s stock worth $41,000 after buying an additional 516 shares during the period. KBC Group NV bought a new position in Barnes Group in the 4th quarter worth approximately $44,000. Nisa Investment Advisors LLC increased its position in Barnes Group by 269.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 960 shares of the industrial products company’s stock worth $51,000 after buying an additional 700 shares during the period. Finally, AdvisorNet Financial Inc increased its position in Barnes Group by 15.1% in the 4th quarter. AdvisorNet Financial Inc now owns 1,387 shares of the industrial products company’s stock worth $74,000 after buying an additional 182 shares during the period. 81.30% of the stock is currently owned by institutional investors and hedge funds.
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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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