Harfst & Associates Inc. Increases Stake in Barnes Group, Inc. (B)
Harfst & Associates Inc. grew its stake in shares of Barnes Group, Inc. (NYSE:B) by 84.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,083 shares of the industrial products company’s stock after purchasing an additional 9,630 shares during the period. Barnes Group makes up 0.6% of Harfst & Associates Inc.’s investment portfolio, making the stock its 15th biggest holding. Harfst & Associates Inc.’s holdings in Barnes Group were worth $1,485,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in B. YorkBridge Wealth Partners LLC raised its holdings in shares of Barnes Group by 4,461.8% in the 3rd quarter. YorkBridge Wealth Partners LLC now owns 1,551 shares of the industrial products company’s stock worth $109,000 after acquiring an additional 1,517 shares during the last quarter. Pacad Investment Ltd. raised its holdings in shares of Barnes Group by 5.9% in the 2nd quarter. Pacad Investment Ltd. now owns 1,800 shares of the industrial products company’s stock worth $105,000 after acquiring an additional 100 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Barnes Group in the 2nd quarter worth about $109,000. LS Investment Advisors LLC raised its holdings 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 worth $114,000 after acquiring an additional 85 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings 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 worth $122,000 after acquiring an additional 188 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.
A number of research firms recently weighed in on B. BidaskClub upgraded shares of Barnes Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. ValuEngine downgraded shares of Barnes Group from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. 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 research report on Monday, July 31st. Zacks Investment Research downgraded shares of Barnes Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $65.00 price objective on shares of Barnes Group in a research report on Sunday, October 29th. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Barnes Group currently has a consensus rating of “Buy” and a consensus target price of $65.60.
Shares of Barnes Group, Inc. (B) traded down $0.17 during mid-day trading on Thursday, reaching $61.73. 236,900 shares of the company’s stock were exchanged, compared to its average volume of 225,588. Barnes Group, Inc. has a twelve month low of $43.25 and a twelve month high of $72.87. The company has a quick ratio of 1.45, a current ratio of 2.20 and a debt-to-equity ratio of 0.37. The company has a market cap of $3,318.49, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 2.17 and a beta of 1.37.
Barnes Group (NYSE:B) last issued its quarterly earnings data on Friday, October 27th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.03). Barnes Group had a return on equity of 12.44% and a net margin of 11.20%. The firm had revenue of $357.16 million during the quarter, compared to the consensus estimate of $351.01 million. During the same period in the previous year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. research analysts predict that Barnes Group, Inc. will post 2.85 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Wednesday, November 22nd will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Tuesday, November 21st. Barnes Group’s payout ratio is 19.72%.
In other news, SVP Christopher J. Stephens sold 15,700 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $63.53, for a total transaction of $997,421.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas O. Barnes sold 1,500 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $66.36, for a total transaction of $99,540.00. The disclosure for this sale can be found here. Insiders have sold a total of 17,955 shares of company stock valued at $1,143,182 over the last three months. Insiders own 8.50% of the company’s stock.
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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