Wells Fargo & Company MN cut its position in shares of Barnes Group Inc. (NYSE:B) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 150,206 shares of the industrial products company’s stock after selling 7,219 shares during the period. Wells Fargo & Company MN owned approximately 0.28% of Barnes Group worth $9,504,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Wasatch Advisors Inc. boosted its stake in Barnes Group by 60.9% during the fourth quarter. Wasatch Advisors Inc. now owns 2,063,298 shares of the industrial products company’s stock valued at $130,545,000 after buying an additional 781,002 shares during the last quarter. Congress Asset Management Co. MA boosted its stake in Barnes Group by 3.5% during the fourth quarter. Congress Asset Management Co. MA now owns 1,216,387 shares of the industrial products company’s stock valued at $76,961,000 after buying an additional 41,104 shares during the last quarter. Eagle Asset Management Inc. raised its position in Barnes Group by 1.7% during the third quarter. Eagle Asset Management Inc. now owns 462,962 shares of the industrial products company’s stock valued at $33,254,000 after purchasing an additional 7,908 shares during the period. Schwab Charles Investment Management Inc. raised its position in Barnes Group by 4.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 317,394 shares of the industrial products company’s stock valued at $20,082,000 after purchasing an additional 12,230 shares during the period. Finally, Nationwide Fund Advisors raised its position in Barnes Group by 4.4% during the third quarter. Nationwide Fund Advisors now owns 313,220 shares of the industrial products company’s stock valued at $22,063,000 after purchasing an additional 13,308 shares during the period. 87.82% of the stock is owned by institutional investors.
Shares of Barnes Group stock opened at $61.85 on Thursday. Barnes Group Inc. has a 52-week low of $48.21 and a 52-week high of $72.87. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.67 and a current ratio of 2.43. The stock has a market capitalization of $3,269.66, a P/E ratio of 21.25, a price-to-earnings-growth ratio of 2.00 and a beta of 1.36.
Barnes Group (NYSE:B) last issued its quarterly earnings data on Friday, February 16th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. Barnes Group had a return on equity of 12.36% and a net margin of 4.15%. The business had revenue of $373.00 million for the quarter, compared to the consensus estimate of $357.77 million. During the same period in the prior year, the business posted $0.67 earnings per share. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. equities research analysts predict that Barnes Group Inc. will post 3.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Friday, February 23rd were issued a $0.14 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.56 annualized dividend and a dividend yield of 0.91%. Barnes Group’s payout ratio is 52.34%.
In other Barnes Group news, Director Richard J. Hipple purchased 1,300 shares of Barnes Group stock in a transaction dated Wednesday, February 21st. The shares were purchased at an average cost of $62.06 per share, for a total transaction of $80,678.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Marian Acker sold 7,860 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $63.12, for a total value of $496,123.20. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company’s stock.
A number of brokerages have issued reports on B. Zacks Investment Research upgraded Barnes Group from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Tuesday. ValuEngine upgraded Barnes Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, SunTrust Banks restated a “hold” rating and set a $67.00 price objective on shares of Barnes Group in a research report on Tuesday, January 9th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $67.50.
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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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