Barnes Group, Inc. (B) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of Barnes Group, Inc. (NYSE:B) from a buy rating to a hold rating in a research note released on Wednesday morning.
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. “
B has been the subject of a number of other research reports. ValuEngine lowered shares of Barnes Group from a buy rating to a hold rating in a research note on Monday, October 2nd. SunTrust Banks, Inc. reissued a hold rating and set a $60.00 target price on shares of Barnes Group in a research note on Thursday, October 12th. Robert W. Baird reissued a hold rating and set a $65.00 target price on shares of Barnes Group in a research note on Sunday. Deutsche Bank AG lifted their target price on shares of Barnes Group from $65.00 to $70.00 and gave the company a buy rating in a research note on Friday, September 8th. Finally, Oppenheimer Holdings, Inc. lifted their target price on shares of Barnes Group from $58.00 to $67.00 and gave the company an outperform rating in a research note on Monday, July 31st. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of $65.60.
Barnes Group (NYSE:B) last posted its quarterly earnings data on Friday, October 27th. The industrial products company reported $0.66 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.03). Barnes Group had a net margin of 11.20% and a return on equity of 12.44%. The company had revenue of $357.16 million for the quarter, compared to analyst estimates of $351.01 million. During the same quarter in the prior year, the business earned $0.71 EPS. Barnes Group’s revenue was up 14.6% compared to the same quarter last year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 22nd will be issued a dividend of $0.14 per share. The ex-dividend date is Tuesday, November 21st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.86%. Barnes Group’s dividend payout ratio is currently 19.72%.
In other news, Director Thomas O. Barnes sold 755 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $61.22, for a total transaction of $46,221.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 8.50% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. raised its holdings in Barnes Group by 40.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 30,227 shares of the industrial products company’s stock worth $1,552,000 after acquiring an additional 8,778 shares during the period. OppenheimerFunds Inc. raised its holdings in Barnes Group by 21.9% in the 1st quarter. OppenheimerFunds Inc. now owns 18,810 shares of the industrial products company’s stock worth $965,000 after acquiring an additional 3,380 shares during the period. Vanguard Group Inc. raised its holdings in Barnes Group by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 4,532,470 shares of the industrial products company’s stock worth $232,698,000 after acquiring an additional 235,065 shares during the period. Geode Capital Management LLC raised its holdings in Barnes Group by 5.6% in the 1st quarter. Geode Capital Management LLC now owns 385,058 shares of the industrial products company’s stock worth $19,768,000 after acquiring an additional 20,270 shares during the period. Finally, BlackRock Inc. raised its holdings in Barnes Group by 40,783.4% in the 1st quarter. BlackRock Inc. now owns 6,069,547 shares of the industrial products company’s stock worth $311,610,000 after acquiring an additional 6,054,701 shares during the period. Institutional investors and hedge funds own 87.57% of the company’s stock.
Barnes Group Company 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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