Barnes Group Inc. (NYSE:B) Stock Position Lifted by New York State Common Retirement Fund
New York State Common Retirement Fund boosted its stake in shares of Barnes Group Inc. (NYSE:B) by 10.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 256,792 shares of the industrial products company’s stock after purchasing an additional 24,152 shares during the period. New York State Common Retirement Fund’s holdings in Barnes Group were worth $10,742,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in B. Norges Bank purchased a new position in Barnes Group during the fourth quarter valued at approximately $35,917,000. Macquarie Group Ltd. grew its position in Barnes Group by 12.1% during the fourth quarter. Macquarie Group Ltd. now owns 1,929,488 shares of the industrial products company’s stock valued at $119,552,000 after purchasing an additional 208,157 shares in the last quarter. Champlain Investment Partners LLC grew its position in Barnes Group by 10.3% during the fourth quarter. Champlain Investment Partners LLC now owns 1,778,135 shares of the industrial products company’s stock valued at $110,173,000 after purchasing an additional 166,415 shares in the last quarter. FMR LLC grew its position in Barnes Group by 54.0% during the fourth quarter. FMR LLC now owns 251,936 shares of the industrial products company’s stock valued at $15,610,000 after purchasing an additional 88,377 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Barnes Group by 21.3% in the fourth quarter. Franklin Resources Inc. now owns 431,300 shares of the industrial products company’s stock worth $26,723,000 after acquiring an additional 75,700 shares in the last quarter. 89.00% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have commented on B. SunTrust Banks decreased their target price on shares of Barnes Group from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Goldman Sachs Group reissued a “sell” rating and issued a $54.00 target price on shares of Barnes Group in a research report on Wednesday, April 1st. TheStreet downgraded shares of Barnes Group from a “b” rating to a “c+” rating in a research report on Thursday, March 12th. UBS Group decreased their target price on shares of Barnes Group from $70.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, April 17th. Finally, Wells Fargo & Co boosted their target price on shares of Barnes Group from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Three analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $44.92.
Barnes Group (NYSE:B) last posted its quarterly earnings data on Friday, April 24th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.19. The business had revenue of $331.00 million during the quarter, compared to the consensus estimate of $313.44 million. Barnes Group had a net margin of 10.66% and a return on equity of 13.36%. Barnes Group’s quarterly revenue was down 12.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 EPS. Equities research analysts forecast that Barnes Group Inc. will post 1.84 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 22nd will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Thursday, May 21st. Barnes Group’s dividend payout ratio is currently 19.94%.
Barnes Group Profile
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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