Versant Capital Management Inc decreased its holdings in shares of Barnes Group Inc. (NYSE:B) by 31.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 512 shares of the industrial products company’s stock after selling 239 shares during the quarter. Versant Capital Management Inc’s holdings in Barnes Group were worth $28,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Arizona State Retirement System grew its stake in Barnes Group by 0.3% in the 1st quarter. Arizona State Retirement System now owns 72,884 shares of the industrial products company’s stock valued at $3,747,000 after buying an additional 193 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in Barnes Group by 1.6% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,581 shares of the industrial products company’s stock valued at $1,047,000 after buying an additional 300 shares during the last quarter. Creative Planning grew its position in shares of Barnes Group by 4.8% in the first quarter. Creative Planning now owns 8,047 shares of the industrial products company’s stock valued at $414,000 after purchasing an additional 366 shares during the last quarter. Amalgamated Bank grew its position in shares of Barnes Group by 6.5% in the fourth quarter. Amalgamated Bank now owns 6,990 shares of the industrial products company’s stock valued at $375,000 after purchasing an additional 428 shares during the last quarter. Finally, Bbva Compass Bancshares Inc. grew its position in shares of Barnes Group by 4.0% in the first quarter. Bbva Compass Bancshares Inc. now owns 11,519 shares of the industrial products company’s stock valued at $592,000 after purchasing an additional 446 shares during the last quarter. Institutional investors own 85.30% of the company’s stock.
NYSE B traded down $1.22 during midday trading on Friday, hitting $48.31. The company had a trading volume of 181,000 shares, compared to its average volume of 171,975. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.43 and a current ratio of 2.13. The firm has a market cap of $2.45 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 2.37 and a beta of 1.40. The stock has a fifty day moving average of $53.86. Barnes Group Inc. has a fifty-two week low of $47.97 and a fifty-two week high of $72.70.
Barnes Group (NYSE:B) last released its earnings results on Friday, July 26th. The industrial products company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). Barnes Group had a return on equity of 13.20% and a net margin of 9.95%. The firm had revenue of $371.70 million for the quarter, compared to analyst estimates of $387.29 million. During the same period last year, the business earned $0.90 earnings per share. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, research analysts anticipate that Barnes Group Inc. will post 3.14 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Friday, August 23rd. Barnes Group’s payout ratio is presently 19.88%.
In other news, Director Thomas O. Barnes sold 2,000 shares of Barnes Group stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $55.48, for a total transaction of $110,960.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mylle H. Mangum sold 1,000 shares of Barnes Group stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $51.89, for a total transaction of $51,890.00. The disclosure for this sale can be found here. Insiders have sold a total of 15,500 shares of company stock worth $861,100 in the last three months. 8.35% of the stock is owned by insiders.
Several brokerages have recently issued reports on B. Zacks Investment Research downgraded Barnes Group from a “hold” rating to a “sell” rating and set a $55.00 price target on the stock. in a research report on Thursday. SunTrust Banks lowered Barnes Group from a “hold” rating to a “sell” rating and lowered their target price for the company from $53.00 to $48.00 in a report on Friday, June 14th. UBS Group lowered their target price on Barnes Group from $60.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday. Alembic Global Advisors assumed coverage on Barnes Group in a report on Friday, May 17th. They issued an “overweight” rating and a $67.00 target price on the stock. Finally, DA Davidson lowered their target price on Barnes Group to $56.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $60.67.
Barnes Group 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, automation, personal care, packaging, electronics, and medical devices.
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