Barnes Group Inc. (NYSE:B) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 555,500 shares, a decrease of 23.4% from the July 31st total of 725,000 shares. Currently, 1.2% of the company’s shares are short sold. Based on an average daily trading volume, of 191,600 shares, the short-interest ratio is presently 2.9 days.

A number of research firms have weighed in on B. UBS Group reduced their target price on Barnes Group from $60.00 to $56.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. Alembic Global Advisors began coverage on Barnes Group in a research note on Friday, May 17th. They issued an “overweight” rating and a $67.00 target price on the stock. ValuEngine lowered Barnes Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. Zacks Investment Research lowered Barnes Group from a “hold” rating to a “sell” rating and set a $55.00 target price on the stock. in a research note on Thursday, August 1st. Finally, SunTrust Banks lowered Barnes Group from a “hold” rating to a “sell” rating and reduced their target price for the stock from $53.00 to $48.00 in a research note on Friday, June 14th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $60.67.

In other Barnes Group news, VP Marian Acker sold 2,274 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $45.43, for a total value of $103,307.82. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mylle H. Mangum sold 1,000 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $51.89, for a total value of $51,890.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,739 shares of company stock worth $175,263 in the last 90 days. 8.35% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Doyle Wealth Management bought a new position in shares of Barnes Group during the 2nd quarter worth $28,000. AdvisorNet Financial Inc boosted its position in Barnes Group by 37.5% during the second quarter. AdvisorNet Financial Inc now owns 1,860 shares of the industrial products company’s stock valued at $105,000 after purchasing an additional 507 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in Barnes Group during the second quarter valued at about $134,000. NumerixS Investment Technologies Inc bought a new stake in Barnes Group during the first quarter valued at about $176,000. Finally, Stone Ridge Asset Management LLC bought a new stake in Barnes Group during the second quarter valued at about $212,000. 85.86% of the stock is currently owned by institutional investors and hedge funds.

Shares of B traded up $2.27 during midday trading on Friday, reaching $55.05. 194,433 shares of the stock were exchanged, compared to its average volume of 207,039. Barnes Group has a 52 week low of $42.39 and a 52 week high of $72.70. The company has a current ratio of 2.13, a quick ratio of 1.43 and a debt-to-equity ratio of 0.73. The company’s 50 day moving average is $46.75 and its two-hundred day moving average is $52.67. The company has a market capitalization of $2.56 billion, a P/E ratio of 17.09, a PEG ratio of 2.30 and a beta of 1.46.

Barnes Group (NYSE:B) last posted its quarterly earnings results on Friday, July 26th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). Barnes Group had a return on equity of 13.20% and a net margin of 9.95%. The firm had revenue of $371.70 million for the quarter, compared to the consensus estimate of $387.29 million. During the same period in the previous year, the company posted $0.90 EPS. Barnes Group’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, sell-side analysts expect that Barnes Group will post 3.14 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Friday, August 23rd. Barnes Group’s payout ratio is 19.88%.

About Barnes Group

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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