LS Investment Advisors LLC Raises Position in Barnes Group, Inc. (B)
LS Investment Advisors LLC raised its stake in shares of Barnes Group, Inc. (NYSE:B) by 4.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,942 shares of the industrial products company’s stock after buying an additional 85 shares during the period. LS Investment Advisors LLC’s holdings in Barnes Group were worth $114,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of B. State of Alaska Department of Revenue raised its position in Barnes Group by 77.7% in the second quarter. State of Alaska Department of Revenue now owns 9,864 shares of the industrial products company’s stock valued at $577,000 after buying an additional 4,314 shares during the last quarter. Kempner Capital Management Inc. acquired a new position in Barnes Group during the second quarter valued at approximately $222,000. NN Investment Partners Holdings N.V. raised its position in Barnes Group by 8.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 21,955 shares of the industrial products company’s stock valued at $1,285,000 after buying an additional 1,665 shares during the last quarter. Bank of Montreal Can raised its position in Barnes Group by 1.0% in the second quarter. Bank of Montreal Can now owns 8,204 shares of the industrial products company’s stock valued at $480,000 after buying an additional 81 shares during the last quarter. Finally, Ironwood Investment Management LLC raised its position in Barnes Group by 0.4% in the first quarter. Ironwood Investment Management LLC now owns 35,230 shares of the industrial products company’s stock valued at $1,809,000 after buying an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 85.50% of the company’s stock.
Barnes Group, Inc. (B) traded down 0.90% during mid-day trading on Friday, hitting $58.68. 422,183 shares of the stock were exchanged. The company has a 50 day moving average price of $59.69 and a 200 day moving average price of $54.25. Barnes Group, Inc. has a 52 week low of $37.88 and a 52 week high of $62.37. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 20.52 and a beta of 1.43.
Barnes Group (NYSE:B) last posted its earnings results on Friday, July 28th. The industrial products company reported $0.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.12. Barnes Group had a return on equity of 13.02% and a net margin of 11.69%. The firm had revenue of $364.49 million during the quarter, compared to analyst estimates of $337.69 million. During the same period in the previous year, the company earned $0.63 EPS. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. Analysts expect that Barnes Group, Inc. will post $2.89 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 24th will be issued a $0.14 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $0.56 annualized dividend and a yield of 0.95%. Barnes Group’s dividend payout ratio (DPR) is currently 19.58%.
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Several research firms recently commented on B. Oppenheimer Holdings, Inc. raised their price target on shares of Barnes Group from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Monday, July 31st. BidaskClub lowered shares of Barnes Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Jefferies Group LLC restated a “buy” rating and issued a $66.00 price target on shares of Barnes Group in a report on Thursday, June 8th. ValuEngine upgraded shares of Barnes Group from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research upgraded shares of Barnes Group from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Monday, May 22nd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $58.20.
In related news, VP Marian Acker sold 6,000 shares of the business’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas O. Barnes sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $56.06, for a total value of $56,060.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,000 shares of company stock valued at $530,340. Corporate 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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