Legal & General Group Plc Has $6.93 Million Holdings in Barnes Group Inc. (B)
Legal & General Group Plc raised its holdings in shares of Barnes Group Inc. (NYSE:B) by 2.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 98,392 shares of the industrial products company’s stock after purchasing an additional 2,139 shares during the period. Legal & General Group Plc owned 0.18% of Barnes Group worth $6,932,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Wasatch Advisors Inc. increased its position in shares of Barnes Group by 112.1% during the third quarter. Wasatch Advisors Inc. now owns 1,282,296 shares of the industrial products company’s stock valued at $90,325,000 after acquiring an additional 677,686 shares in the last quarter. Koch Industries Inc. bought a new stake in shares of Barnes Group during the second quarter valued at approximately $350,000. Macquarie Group Ltd. increased its position in shares of Barnes Group by 7.4% during the third quarter. Macquarie Group Ltd. now owns 1,795,260 shares of the industrial products company’s stock valued at $126,458,000 after acquiring an additional 124,314 shares in the last quarter. Northern Trust Corp increased its position in shares of Barnes Group by 6.3% during the second quarter. Northern Trust Corp now owns 1,664,281 shares of the industrial products company’s stock valued at $97,410,000 after acquiring an additional 98,189 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Barnes Group by 110.3% during the second quarter. American Century Companies Inc. now owns 173,029 shares of the industrial products company’s stock valued at $10,127,000 after acquiring an additional 90,742 shares in the last quarter. 86.35% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on B shares. BidaskClub raised shares of Barnes Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. SunTrust Banks reissued a “hold” rating and set a $60.00 price target on shares of Barnes Group in a research report on Thursday, October 12th. Deutsche Bank raised their price target on shares of Barnes Group from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, September 8th. ValuEngine upgraded shares of Barnes Group from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Robert W. Baird restated a “hold” rating and issued a $65.00 target price on shares of Barnes Group in a report on Sunday, October 29th. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $65.60.
In other news, Director Thomas O. Barnes sold 1,500 shares of Barnes Group stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $66.36, for a total transaction of $99,540.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Christopher J. Stephens sold 15,700 shares of Barnes Group stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $63.53, for a total transaction of $997,421.00. The disclosure for this sale can be found here. Company insiders own 8.50% of the company’s stock.
Shares of Barnes Group Inc. (B) opened at $63.35 on Friday. Barnes Group Inc. has a fifty-two week low of $45.47 and a fifty-two week high of $72.87. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.20 and a quick ratio of 1.45. The stock has a market cap of $3,312.60, a P/E ratio of 21.68, a P/E/G ratio of 2.16 and a beta of 1.35.
Barnes Group (NYSE:B) last issued its earnings results on Friday, October 27th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $357.16 million during the quarter, compared to analysts’ expectations of $351.01 million. During the same quarter in the prior year, the business posted $0.71 EPS. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. analysts expect that Barnes Group Inc. will post 2.85 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Wednesday, November 22nd were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.88%. The ex-dividend date was Tuesday, November 21st. Barnes Group’s dividend payout ratio is currently 19.72%.
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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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