State of Tennessee Treasury Department increased its holdings in Barnes Group Inc. (NYSE:B) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 34,427 shares of the industrial products company’s stock after acquiring an additional 1,580 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.07% of Barnes Group worth $1,846,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the stock. Texas Permanent School Fund lifted its position in shares of Barnes Group by 4.2% during the 4th quarter. Texas Permanent School Fund now owns 30,889 shares of the industrial products company’s stock valued at $1,656,000 after acquiring an additional 1,255 shares during the last quarter. AdvisorNet Financial Inc lifted its holdings in shares of Barnes Group by 15.1% in the fourth quarter. AdvisorNet Financial Inc now owns 1,387 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 182 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Barnes Group by 0.8% in the fourth quarter. BlackRock Inc. now owns 6,913,977 shares of the industrial products company’s stock valued at $370,728,000 after purchasing an additional 55,465 shares in the last quarter. Doyle Wealth Management purchased a new stake in shares of Barnes Group in the fourth quarter valued at $26,000. Finally, Prudential Financial Inc. lifted its holdings in shares of Barnes Group by 1.7% in the fourth quarter. Prudential Financial Inc. now owns 80,483 shares of the industrial products company’s stock valued at $4,315,000 after purchasing an additional 1,326 shares in the last quarter. Institutional investors and hedge funds own 84.66% of the company’s stock.
Barnes Group stock traded up $0.14 during mid-day trading on Friday, hitting $55.44. 449 shares of the company’s stock were exchanged, compared to its average volume of 172,354. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.25 and a quick ratio of 1.51. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 2.46 and a beta of 1.47. Barnes Group Inc. has a 1-year low of $49.06 and a 1-year high of $72.70.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Monday, February 25th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Friday, February 22nd. Barnes Group’s dividend payout ratio is currently 19.88%.
In other news, CFO Christopher J. Stephens sold 13,200 shares of the firm’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $58.94, for a total value of $778,008.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard J. Hipple purchased 1,000 shares of the stock in a transaction dated Wednesday, February 27th. The stock was acquired at an average cost of $58.83 per share, for a total transaction of $58,830.00. The disclosure for this purchase can be found here. Company insiders own 7.93% of the company’s stock.
A number of research firms have recently issued reports on B. Zacks Investment Research upgraded Barnes Group from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th. SunTrust Banks restated a “hold” rating and issued a $57.00 target price on shares of Barnes Group in a report on Friday, February 22nd. UBS Group lowered Barnes Group from a “buy” rating to a “neutral” rating and reduced their target price for the company from $72.00 to $65.00 in a report on Friday, February 15th. DA Davidson set a $66.00 target price on Barnes Group and gave the company a “hold” rating in a report on Monday, November 19th. Finally, Sidoti upgraded Barnes Group from a “neutral” rating to a “buy” rating in a report on Wednesday, January 2nd. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $66.17.
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Barnes Group Company 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, consumer products, packaging, electronics, medical devices, and energy.
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