Pinebridge Investments L.P. raised its stake in Barnes Group Inc. (NYSE:B) by 26.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,673 shares of the industrial products company’s stock after purchasing an additional 8,779 shares during the quarter. Pinebridge Investments L.P. owned approximately 0.08% of Barnes Group worth $2,637,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Wasatch Advisors Inc. raised its holdings in Barnes Group by 60.9% in the 4th quarter. Wasatch Advisors Inc. now owns 2,063,298 shares of the industrial products company’s stock valued at $130,545,000 after acquiring an additional 781,002 shares in the last quarter. Macquarie Group Ltd. grew its position in Barnes Group by 7.4% during the 3rd quarter. Macquarie Group Ltd. now owns 1,795,260 shares of the industrial products company’s stock worth $126,458,000 after acquiring an additional 124,314 shares during the last quarter. State Street Corp lifted its holdings in Barnes Group by 3.8% during the 2nd quarter. State Street Corp now owns 1,288,147 shares of the industrial products company’s stock worth $75,394,000 after buying an additional 47,590 shares during the period. Congress Asset Management Co. MA lifted its holdings in Barnes Group by 3.5% during the 4th quarter. Congress Asset Management Co. MA now owns 1,216,387 shares of the industrial products company’s stock worth $76,961,000 after buying an additional 41,104 shares during the period. Finally, Rothschild Asset Management Inc. lifted its holdings in Barnes Group by 4.6% during the 3rd quarter. Rothschild Asset Management Inc. now owns 694,348 shares of the industrial products company’s stock worth $48,910,000 after buying an additional 30,567 shares during the period. Hedge funds and other institutional investors own 87.86% of the company’s stock.
Barnes Group Inc. (B) traded down $0.41 during midday trading on Wednesday, hitting $61.18. The company had a trading volume of 196,805 shares, compared to its average volume of 214,910. The company has a quick ratio of 1.67, a current ratio of 2.43 and a debt-to-equity ratio of 0.42. Barnes Group Inc. has a 12 month low of $48.21 and a 12 month high of $72.87. The company has a market capitalization of $3,284.03, a PE ratio of 57.56, a PEG ratio of 2.01 and a beta of 1.36.
Barnes Group (NYSE:B) last released its earnings results on Friday, February 16th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.03. Barnes Group had a net margin of 4.15% and a return on equity of 12.36%. The firm had revenue of $373.00 million during the quarter, compared to analyst estimates of $357.77 million. During the same period last year, the business earned $0.67 earnings per share. The business’s revenue was up 15.1% on a year-over-year basis. equities analysts anticipate that Barnes Group Inc. will post 3.07 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 23rd were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Thursday, February 22nd. Barnes Group’s dividend payout ratio (DPR) is presently 52.34%.
Several research firms have recently issued reports on B. ValuEngine raised Barnes Group from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research raised Barnes Group from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a report on Wednesday, January 10th. Finally, SunTrust Banks reissued a “hold” rating and set a $67.00 price objective on shares of Barnes Group in a report on Tuesday, January 9th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $68.17.
In other news, VP Marian Acker sold 7,860 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $63.12, for a total transaction of $496,123.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas O. Barnes sold 1,700 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $63.36, for a total transaction of $107,712.00. The disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.
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Barnes Group Profile
Barnes Group Inc is an industrial and aerospace manufacturer and service provider, serving a range of end markets and customers. The Company’s engineered products, industrial technologies, and solutions are used in applications that provide transportation, manufacturing, healthcare products and technology to the world.
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