Barnes Group Inc. (NYSE:B) – Equities research analysts at SunTrust Banks cut their Q3 2019 EPS estimates for shares of Barnes Group in a report released on Monday, October 21st. SunTrust Banks analyst M. Ciarmoli now forecasts that the industrial products company will post earnings of $0.75 per share for the quarter, down from their previous estimate of $0.76. SunTrust Banks also issued estimates for Barnes Group’s Q4 2019 earnings at $0.79 EPS, FY2019 earnings at $2.99 EPS and FY2020 earnings at $3.16 EPS.
A number of other equities research analysts have also recently issued reports on the stock. UBS Group reduced their target price on shares of Barnes Group from $60.00 to $56.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. ValuEngine raised shares of Barnes Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. Finally, Zacks Investment Research cut shares of Barnes Group from a “hold” rating to a “sell” rating and set a $55.00 target price for the company. in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $56.40.
Barnes Group (NYSE:B) last announced its earnings results on Friday, July 26th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.03). The business had revenue of $371.70 million during the quarter, compared to the consensus estimate of $387.29 million. Barnes Group had a net margin of 9.95% and a return on equity of 13.20%. The company’s revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 EPS.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers boosted its holdings in shares of Barnes Group by 5.5% during the 3rd quarter. Rhumbline Advisers now owns 165,542 shares of the industrial products company’s stock worth $8,532,000 after buying an additional 8,618 shares in the last quarter. Foundry Partners LLC raised its position in shares of Barnes Group by 11.9% during the third quarter. Foundry Partners LLC now owns 235,690 shares of the industrial products company’s stock worth $12,147,000 after purchasing an additional 24,986 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Barnes Group by 12.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,359 shares of the industrial products company’s stock worth $173,000 after purchasing an additional 362 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Barnes Group by 15.3% during the third quarter. Nisa Investment Advisors LLC now owns 2,260 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 300 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Barnes Group during the third quarter worth approximately $447,000. 85.88% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Marian Acker sold 5,018 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $53.88, for a total value of $270,369.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mylle H. Mangum sold 1,000 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $51.89, for a total value of $51,890.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,757 shares of company stock valued at $445,632. 8.35% of the stock is owned by insiders.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Monday, November 25th. Barnes Group’s dividend payout ratio (DPR) is presently 19.88%.
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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