Public Employees Retirement Association of Colorado grew its position in Barnes Group Inc. (NYSE:B) by 11.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 443,183 shares of the industrial products company’s stock after acquiring an additional 46,995 shares during the quarter. Public Employees Retirement Association of Colorado owned approximately 0.88% of Barnes Group worth $24,969,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of B. Founders Capital Management LLC boosted its position in Barnes Group by 56.5% during the first quarter. Founders Capital Management LLC now owns 6,116 shares of the industrial products company’s stock valued at $314,000 after acquiring an additional 2,208 shares during the last quarter. Deutsche Bank AG increased its stake in Barnes Group by 48.6% in the 4th quarter. Deutsche Bank AG now owns 159,265 shares of the industrial products company’s stock valued at $8,539,000 after buying an additional 52,054 shares during the last quarter. Comerica Bank increased its stake in Barnes Group by 5.4% in the 1st quarter. Comerica Bank now owns 48,775 shares of the industrial products company’s stock valued at $2,616,000 after buying an additional 2,494 shares during the last quarter. M Holdings Securities Inc. purchased a new stake in Barnes Group in the 1st quarter valued at about $1,051,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of Barnes Group during the 1st quarter worth approximately $375,000. Institutional investors and hedge funds own 86.92% of the company’s stock.
In other Barnes Group news, Director Gary G. Benanav sold 12,500 shares of Barnes Group stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $55.86, for a total transaction of $698,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mylle H. Mangum sold 1,000 shares of Barnes Group stock in a transaction that occurred on 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. Company insiders own 8.35% of the company’s stock.
Barnes Group (NYSE:B) last announced its earnings results on Friday, July 26th. The industrial products company reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.03). Barnes Group had a net margin of 9.95% and a return on equity of 13.20%. The firm had revenue of $371.70 million during the quarter, compared to analysts’ expectations of $387.29 million. During the same period in the prior year, the company posted $0.90 EPS. The company’s revenue was down 1.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Barnes Group Inc. will post 3.14 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Friday, August 23rd. Barnes Group’s dividend payout ratio (DPR) is 19.88%.
Several research analysts recently commented on the stock. SunTrust Banks downgraded shares of Barnes Group from a “hold” rating to a “sell” rating and cut their price objective for the stock from $53.00 to $48.00 in a report on Friday, June 14th. Alembic Global Advisors initiated coverage on shares of Barnes Group in a report on Friday, May 17th. They set an “overweight” rating and a $67.00 price objective for the company. UBS Group decreased their target price on shares of Barnes Group from $60.00 to $56.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 30th. ValuEngine cut shares of Barnes Group from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Zacks Investment Research cut shares of Barnes Group from a “hold” rating to a “sell” rating and set a $55.00 price objective on the stock. in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average 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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