Barnes Group, Inc. (B) Shares Bought by Acrospire Investment Management LLC
Acrospire Investment Management LLC increased its stake in Barnes Group, Inc. (NYSE:B) by 16.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,178 shares of the industrial products company’s stock after purchasing an additional 300 shares during the quarter. Acrospire Investment Management LLC’s holdings in Barnes Group were worth $127,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Citadel Advisors LLC purchased a new position in shares of Barnes Group in the 1st quarter valued at about $445,000. BNP Paribas Arbitrage SA increased its holdings in Barnes Group by 1.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 11,794 shares of the industrial products company’s stock valued at $606,000 after acquiring an additional 171 shares in the last quarter. First Trust Advisors LP increased its holdings in Barnes Group by 7.0% during the 2nd quarter. First Trust Advisors LP now owns 111,842 shares of the industrial products company’s stock valued at $6,546,000 after acquiring an additional 7,269 shares in the last quarter. Invictus RG purchased a new position in Barnes Group during the 1st quarter valued at about $354,000. Finally, Stifel Financial Corp purchased a new position in Barnes Group during the 1st quarter valued at about $9,198,000. Institutional investors and hedge funds own 85.08% of the company’s stock.
Barnes Group, Inc. (B) opened at 67.49 on Wednesday. Barnes Group, Inc. has a 12-month low of $37.88 and a 12-month high of $67.49. The stock has a market capitalization of $3.63 billion, a P/E ratio of 23.60 and a beta of 1.43. The firm’s 50-day moving average is $61.72 and its 200 day moving average is $56.83.
Barnes Group (NYSE:B) last issued its quarterly earnings results on Friday, July 28th. The industrial products company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. Barnes Group had a net margin of 11.69% and a return on equity of 13.02%. The firm had revenue of $364.49 million for the quarter, compared to analysts’ expectations of $337.69 million. During the same period in the previous year, the business earned $0.63 earnings per share. Barnes Group’s revenue for the quarter was up 18.8% compared to the same quarter last year. Equities research analysts anticipate that Barnes Group, Inc. will post $2.90 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Thursday, August 24th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Tuesday, August 22nd. Barnes Group’s dividend payout ratio (DPR) is presently 19.58%.
In other Barnes Group news, VP Marian Acker sold 6,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $60.38, for a total transaction of $362,280.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Thomas O. Barnes sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $59.93, for a total value of $119,860.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,755 shares of company stock worth $528,361. 8.50% of the stock is owned by company insiders.
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Several equities analysts have weighed in on the stock. BidaskClub upgraded shares of Barnes Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. ValuEngine upgraded shares of Barnes Group from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Oppenheimer Holdings, Inc. raised their target price on shares of Barnes Group from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Monday, July 31st. Deutsche Bank AG raised their target price on shares of Barnes Group from $65.00 to $70.00 and gave the company a “buy” rating in a report on Friday, September 8th. Finally, Jefferies Group LLC restated a “buy” rating and set a $66.00 target price on shares of Barnes Group in a report on Thursday, June 8th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $62.60.
Barnes Group 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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