Barnes Group, Inc. (NYSE:B) Position Boosted by IFP Advisors Inc
IFP Advisors Inc boosted its position in shares of Barnes Group, Inc. (NYSE:B) by 735.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,142 shares of the industrial products company’s stock after buying an additional 8,928 shares during the period. IFP Advisors Inc’s holdings in Barnes Group were worth $594,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the stock. LS Investment Advisors LLC raised its position in shares of Barnes Group by 4.6% in the second quarter. LS Investment Advisors LLC now owns 1,942 shares of the industrial products company’s stock valued at $114,000 after buying an additional 85 shares during the period. Teacher Retirement System of Texas bought a new position in shares of Barnes Group during the first quarter valued at approximately $209,000. Verity Asset Management Inc. bought a new position in shares of Barnes Group during the first quarter valued at approximately $215,000. Dubuque Bank & Trust Co. bought a new position in shares of Barnes Group during the first quarter valued at approximately $216,000. Finally, Kempner Capital Management Inc. bought a new position in shares of Barnes Group during the second quarter valued at approximately $222,000. Institutional investors own 85.50% of the company’s stock.
Shares of Barnes Group, Inc. (B) opened at 58.68 on Friday. Barnes Group, Inc. has a 52-week low of $37.88 and a 52-week high of $62.37. The stock has a market capitalization of $3.16 billion, a P/E ratio of 20.52 and a beta of 1.43. The stock has a 50 day moving average of $59.69 and a 200-day moving average of $54.25.
Barnes Group (NYSE:B) last released its quarterly earnings data on Friday, July 28th. The industrial products company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The firm had revenue of $364.49 million during the quarter, compared to the consensus estimate of $337.69 million. Barnes Group had a return on equity of 13.02% and a net margin of 11.69%. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share. Analysts predict that Barnes Group, Inc. will post $2.89 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 24th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $0.56 dividend on an annualized basis and a yield of 0.95%. Barnes Group’s dividend payout ratio is presently 19.58%.
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B has been the subject of several research reports. ValuEngine upgraded shares of Barnes Group from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research lowered shares of Barnes Group from a “buy” rating to a “hold” rating in a report on Friday, May 19th. Jefferies Group LLC restated a “buy” rating and issued a $63.00 price objective on shares of Barnes Group in a report on Tuesday, May 2nd. Sidoti lowered shares of Barnes Group from a “buy” rating to a “neutral” rating in a report on Monday, April 24th. Finally, Oppenheimer Holdings, Inc. upped their price objective on shares of Barnes Group from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Monday, July 31st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $58.20.
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 shares were sold at an average price of $60.38, for a total value of $362,280.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hassell H. Mcclellan sold 2,000 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $56.00, for a total transaction of $112,000.00. The disclosure for this sale can be found here. Insiders sold 9,000 shares of company stock valued at $530,340 over the last quarter. 8.50% of the stock is currently owned by corporate insiders.
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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