Pitcairn Co. grew its stake in shares of Barnes Group Inc. (NYSE:B) by 7.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,271 shares of the industrial products company’s stock after buying an additional 445 shares during the period. Pitcairn Co.’s holdings in Barnes Group were worth $248,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Roubaix Capital LLC purchased a new stake in Barnes Group during the 2nd quarter worth $1,355,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Barnes Group by 59.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,073 shares of the industrial products company’s stock worth $240,000 after purchasing an additional 2,262 shares during the period. Strs Ohio boosted its position in Barnes Group by 25.7% during the 2nd quarter. Strs Ohio now owns 4,400 shares of the industrial products company’s stock worth $174,000 after purchasing an additional 900 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. purchased a new stake in Barnes Group during the 2nd quarter worth $1,107,000. Finally, First Trust Advisors LP boosted its position in Barnes Group by 36.7% during the 2nd quarter. First Trust Advisors LP now owns 30,256 shares of the industrial products company’s stock worth $1,197,000 after purchasing an additional 8,125 shares during the period. 87.03% of the stock is owned by institutional investors.
A number of brokerages recently weighed in on B. SunTrust Banks decreased their price target on shares of Barnes Group from $34.00 to $30.00 and set a “hold” rating for the company in a research report on Wednesday, July 15th. Wells Fargo & Co upped their price target on shares of Barnes Group from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Deutsche Bank boosted their price objective on shares of Barnes Group from $61.00 to $64.00 and gave the stock a “hold” rating in a report on Wednesday, June 10th. UBS Group cut their price objective on shares of Barnes Group from $64.00 to $56.00 and set a “sell” rating on the stock in a report on Wednesday, May 27th. Finally, Zacks Investment Research lowered shares of Barnes Group from a “hold” rating to a “strong sell” rating and set a $40.00 price objective on the stock. in a report on Thursday. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $47.50.
Shares of Barnes Group stock opened at $36.87 on Friday. The firm has a market cap of $1.86 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 2.11 and a beta of 1.14. The firm’s 50-day simple moving average is $38.58 and its 200-day simple moving average is $45.50. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.47 and a current ratio of 1.99. Barnes Group Inc. has a 1 year low of $30.22 and a 1 year high of $68.60.
Barnes Group (NYSE:B) last issued its earnings results on Tuesday, July 28th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.07. The business had revenue of $236.00 million for the quarter, compared to analyst estimates of $239.02 million. Barnes Group had a net margin of 8.94% and a return on equity of 11.24%. The company’s revenue for the quarter was down 36.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 EPS. On average, equities analysts predict that Barnes Group Inc. will post 1.73 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 27th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.74%. Barnes Group’s dividend payout ratio (DPR) is presently 19.94%.
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, automation, personal care, packaging, electronics, and medical devices.
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