Barnes Group (B) Cut to Sell at Zacks Investment Research
According to Zacks, “Barnes Group Inc. is a global industrial and aerospace manufacturer and service provider, serving a wide range of end markets and customers. “
A number of other research firms have also commented on B. Alembic Global Advisors started coverage on shares of Barnes Group in a research report on Friday, May 17th. They set an overweight rating and a $67.00 price target for the company. DA Davidson cut their target price on shares of Barnes Group to $56.00 and set a neutral rating for the company in a research report on Thursday, April 11th. UBS Group lowered shares of Barnes Group from a buy rating to a neutral rating and cut their target price for the stock from $72.00 to $65.00 in a research report on Friday, February 15th. Finally, SunTrust Banks reiterated a hold rating and issued a $57.00 target price on shares of Barnes Group in a research report on Friday, February 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Barnes Group currently has a consensus rating of Hold and a consensus price target of $64.86.
Barnes Group (NYSE:B) last released its quarterly earnings results on Friday, April 26th. The industrial products company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $376.69 million during the quarter, compared to analyst estimates of $374.04 million. Barnes Group had a net margin of 10.72% and a return on equity of 14.01%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 EPS. Sell-side analysts forecast that Barnes Group will post 3.23 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 24th will be given a $0.16 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $0.64 annualized dividend and a yield of 1.24%. Barnes Group’s dividend payout ratio (DPR) is presently 19.88%.
In other Barnes Group news, Director Thomas O. Barnes sold 2,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $55.48, for a total value of $110,960.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Dawn N. Edwards sold 1,750 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $55.44, for a total transaction of $97,020.00. The disclosure for this sale can be found here. Insiders sold 16,250 shares of company stock valued at $906,230 over the last quarter. 8.35% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. Marshall Wace North America L.P. bought a new stake in Barnes Group in the first quarter worth $316,000. Marshall Wace LLP bought a new stake in Barnes Group in the first quarter worth $347,000. Diversified Trust Co bought a new stake in Barnes Group in the first quarter worth $248,000. M Holdings Securities Inc. bought a new position in shares of Barnes Group during the first quarter valued at about $1,051,000. Finally, BlueCrest Capital Management Ltd raised its stake in shares of Barnes Group by 56.7% during the first quarter. BlueCrest Capital Management Ltd now owns 5,942 shares of the industrial products company’s stock valued at $305,000 after acquiring an additional 2,151 shares during the last quarter. 85.35% of the stock is owned by institutional investors and hedge funds.
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, automation, personal care, packaging, electronics, and medical devices.
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