Eagle Asset Management Inc. Acquires 26,802 Shares of Barnes Group Inc. (B)
Eagle Asset Management Inc. boosted its position in shares of Barnes Group Inc. (NYSE:B) by 6.3% during the third quarter, Holdings Channel reports. The firm owned 454,318 shares of the company’s stock after buying an additional 26,802 shares during the period. Eagle Asset Management Inc.’s holdings in Barnes Group were worth $18,422,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Mesirow Financial Investment Management Equity Management bought a new position in shares of Barnes Group during the second quarter valued at about $21,825,000. Macquarie Group Ltd. boosted its position in shares of Barnes Group by 28.5% in the second quarter. Macquarie Group Ltd. now owns 1,710,686 shares of the company’s stock valued at $56,658,000 after buying an additional 379,076 shares during the last quarter. Foundry Partners LLC bought a new position in shares of Barnes Group during the second quarter valued at about $11,854,000. Dimensional Fund Advisors LP boosted its position in shares of Barnes Group by 7.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,345,611 shares of the company’s stock valued at $110,804,000 after buying an additional 244,204 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Barnes Group by 5.7% in the second quarter. Vanguard Group Inc. now owns 3,966,594 shares of the company’s stock valued at $131,374,000 after buying an additional 212,741 shares during the last quarter. Institutional investors own 84.43% of the company’s stock.
Shares of Barnes Group Inc. (NYSE:B) traded down 0.41% during midday trading on Tuesday, hitting $46.42. The stock had a trading volume of 27,960 shares. The stock has a 50 day moving average of $41.29 and a 200-day moving average of $38.13. Barnes Group Inc. has a one year low of $30.07 and a one year high of $46.97. The company has a market cap of $2.50 billion, a P/E ratio of 20.56 and a beta of 1.37.
Barnes Group (NYSE:B) last announced its quarterly earnings results on Friday, October 28th. The company reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.04. The company earned $312 million during the quarter, compared to analyst estimates of $315.22 million. Barnes Group had a return on equity of 12.10% and a net margin of 10.33%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.61 earnings per share. Analysts forecast that Barnes Group Inc. will post $2.52 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Wednesday, November 23rd will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Monday, November 21st. Barnes Group’s payout ratio is 23.11%.
Several brokerages have recently issued reports on B. Zacks Investment Research cut Barnes Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 1st. Jefferies Group lifted their price objective on Barnes Group from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $40.17.
In related news, Director Thomas O. Barnes sold 3,000 shares of the stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $41.45, for a total value of $124,350.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Christopher J. Stephens sold 23,039 shares of the stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $38.76, for a total value of $892,991.64. The disclosure for this sale can be found here. 7.80% of the stock is owned by insiders.
Barnes Group Company 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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