Citadel Advisors LLC Buys 14,361 Shares of Barnes Group, Inc. (B)
Citadel Advisors LLC boosted its stake in shares of Barnes Group, Inc. (NYSE:B) by 165.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,020 shares of the industrial products company’s stock after buying an additional 14,361 shares during the period. Citadel Advisors LLC’s holdings in Barnes Group were worth $1,347,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in B. Pacad Investment Ltd. boosted its holdings in Barnes Group by 5.9% in the 2nd quarter. Pacad Investment Ltd. now owns 1,800 shares of the industrial products company’s stock valued at $105,000 after purchasing an additional 100 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Barnes Group in the 2nd quarter valued at approximately $109,000. LS Investment Advisors LLC grew its stake in shares of Barnes Group by 4.6% in the 2nd 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. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Barnes Group by 9.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,092 shares of the industrial products company’s stock valued at $122,000 after buying an additional 188 shares during the period. Finally, Acrospire Investment Management LLC grew its stake in shares of Barnes Group by 16.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,178 shares of the industrial products company’s stock valued at $127,000 after buying an additional 300 shares during the period. 85.08% of the stock is currently owned by institutional investors.
Shares of Barnes Group, Inc. (B) opened at 71.91 on Wednesday. The company’s 50 day moving average is $64.52 and its 200-day moving average is $58.25. Barnes Group, Inc. has a 1-year low of $37.88 and a 1-year high of $73.84. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of 25.14 and a beta of 1.45.
Barnes Group (NYSE:B) last issued its earnings results on Friday, July 28th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. Barnes Group had a net margin of 11.69% and a return on equity of 13.02%. The business had revenue of $364.49 million for the quarter, compared to analyst estimates of $337.69 million. During the same quarter in the prior year, the business posted $0.63 EPS. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. Equities analysts anticipate that Barnes Group, Inc. will post $2.90 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Thursday, August 24th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Tuesday, August 22nd. Barnes Group’s dividend payout ratio (DPR) is presently 19.58%.
A number of research firms have recently weighed in on B. Oppenheimer Holdings, Inc. increased their price target on Barnes Group from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Monday, July 31st. BidaskClub raised Barnes Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. Deutsche Bank AG boosted their price objective 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. Jefferies Group LLC restated a “buy” rating and issued a $66.00 price objective on shares of Barnes Group in a report on Thursday, June 8th. Finally, ValuEngine raised shares of Barnes Group from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $62.60.
In other Barnes Group news, VP Marian Acker sold 6,000 shares of Barnes Group stock in a transaction that occurred on Wednesday, August 2nd. The stock was 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 hyperlink. Also, Director Thomas O. Barnes sold 2,000 shares of Barnes Group stock in a transaction that occurred on Thursday, August 10th. The shares were 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. Insiders have sold 8,755 shares of company stock worth $528,361 over the last 90 days. 8.50% of the stock is currently owned by company insiders.
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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