Barnes Group, Inc. (B) Shares Sold by SG Americas Securities LLC
SG Americas Securities LLC decreased its stake in shares of Barnes Group, Inc. (NYSE:B) by 34.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,679 shares of the industrial products company’s stock after selling 1,411 shares during the period. SG Americas Securities LLC’s holdings in Barnes Group were worth $157,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Citadel Advisors LLC acquired a new position in Barnes Group during the first quarter worth approximately $445,000. BNP Paribas Arbitrage SA increased its position in Barnes Group by 1.5% during the first quarter. BNP Paribas Arbitrage SA now owns 11,794 shares of the industrial products company’s stock worth $606,000 after purchasing an additional 171 shares during the last quarter. First Trust Advisors LP increased its position in Barnes Group by 7.0% during the second quarter. First Trust Advisors LP now owns 111,842 shares of the industrial products company’s stock worth $6,546,000 after purchasing an additional 7,269 shares during the last quarter. Invictus RG acquired a new position in Barnes Group during the first quarter worth approximately $354,000. Finally, First National Bank of Omaha increased its position in Barnes Group by 1.0% during the second quarter. First National Bank of Omaha now owns 26,153 shares of the industrial products company’s stock worth $1,531,000 after purchasing an additional 250 shares during the last quarter. 85.08% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently commented on the stock. BidaskClub raised shares of Barnes Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. ValuEngine raised shares of Barnes Group from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Oppenheimer Holdings, Inc. increased their price objective on shares of Barnes Group from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Monday, July 31st. Jefferies Group LLC reissued a “buy” rating and issued a $66.00 price objective on shares of Barnes Group in a research report on Thursday, June 8th. Finally, Deutsche Bank AG increased their price objective on shares of Barnes Group from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, September 8th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $62.60.
In other news, VP Marian Acker sold 6,000 shares of Barnes Group stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $60.38, for a total value of $362,280.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Thomas O. Barnes sold 755 shares of Barnes Group stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $61.22, for a total transaction of $46,221.10. The disclosure for this sale can be found here. Insiders sold 8,755 shares of company stock valued at $528,361 over the last quarter. Corporate insiders own 8.50% of the company’s stock.
Shares of Barnes Group, Inc. (NYSE:B) opened at 68.52 on Friday. Barnes Group, Inc. has a 52-week low of $37.88 and a 52-week high of $68.86. The stock has a 50 day moving average of $61.72 and a 200 day moving average of $56.83. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 23.96 and a beta of 1.43.
Barnes Group (NYSE:B) last posted its earnings results on Friday, July 28th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.12. The firm had revenue of $364.49 million during the quarter, compared to analysts’ expectations of $337.69 million. Barnes Group had a net margin of 11.69% and a return on equity of 13.02%. The company’s revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 earnings per share. Equities analysts predict that Barnes Group, Inc. will post $2.90 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Thursday, August 24th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date was Tuesday, August 22nd. Barnes Group’s dividend payout ratio (DPR) is presently 19.58%.
About Barnes Group
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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