Marian Acker Sells 6,000 Shares of Barnes Group Inc. (B) Stock
Barnes Group Inc. (NYSE:B) VP Marian Acker sold 6,000 shares of Barnes Group stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $46.51, for a total transaction of $279,060.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Barnes Group Inc. (NYSE:B) opened at 46.20 on Thursday. Barnes Group Inc. has a 52 week low of $30.07 and a 52 week high of $46.97. The firm has a 50-day moving average of $41.48 and a 200-day moving average of $38.23. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 20.46 and a beta of 1.37.
Barnes Group (NYSE:B) last posted its earnings results on Friday, October 28th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. The firm earned $312 million during the quarter, compared to analysts’ expectations of $315.22 million. Barnes Group had a net margin of 10.33% and a return on equity of 12.10%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 earnings per share. Equities analysts forecast that Barnes Group Inc. will post $2.52 earnings per share for the current 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 issued a $0.13 dividend. The ex-dividend date is Monday, November 21st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.13%. Barnes Group’s dividend payout ratio (DPR) is currently 23.11%.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in B. State Street Corp increased its position in Barnes Group by 2.1% in the first quarter. State Street Corp now owns 1,087,428 shares of the company’s stock valued at $38,095,000 after buying an additional 22,284 shares in the last quarter. A.R.T. Advisors LLC purchased a new position in Barnes Group during the first quarter valued at about $964,000. BNP Paribas Arbitrage SA increased its position in Barnes Group by 99.6% in the second quarter. BNP Paribas Arbitrage SA now owns 17,100 shares of the company’s stock valued at $566,000 after buying an additional 8,533 shares in the last quarter. NN Investment Partners Holdings N.V. increased its position in Barnes Group by 17.7% in the second quarter. NN Investment Partners Holdings N.V. now owns 20,295 shares of the company’s stock valued at $672,000 after buying an additional 3,045 shares in the last quarter. Finally, Capstone Asset Management Co. increased its position in Barnes Group by 1.0% in the second quarter. Capstone Asset Management Co. now owns 15,078 shares of the company’s stock valued at $499,000 after buying an additional 150 shares in the last quarter. 84.43% of the stock is owned by institutional investors.
Separately, Zacks Investment Research raised shares of Barnes Group from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research note on Wednesday, September 28th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $40.17.
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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