Strs Ohio decreased its stake in Barnes Group Inc. (NYSE:B) by 3.0% during the second quarter, Holdings Channel reports. The fund owned 119,300 shares of the company’s stock after selling 3,700 shares during the period. Strs Ohio’s holdings in Barnes Group were worth $3,951,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Barnes Group by 126.2% in the first quarter. BlackRock Inc. now owns 3,684 shares of the company’s stock valued at $129,000 after buying an additional 2,055 shares during the last quarter. Acrospire Investment Management LLC bought a new stake in shares of Barnes Group during the first quarter valued at about $290,000. Huntington Asset Advisors Inc. bought a new stake in shares of Barnes Group during the first quarter valued at about $298,000. Bayesian Capital Management LP bought a new stake in shares of Barnes Group during the first quarter valued at about $340,000. Finally, Glenmede Trust Co. NA raised its stake in shares of Barnes Group by 2,900.0% in the first quarter. Glenmede Trust Co. NA now owns 10,410 shares of the company’s stock valued at $363,000 after buying an additional 10,063 shares during the last quarter. Institutional investors own 83.55% of the company’s stock.
Barnes Group Inc. (NYSE:B) traded down 3.14% on Friday, hitting $39.18. 166,991 shares of the stock were exchanged. The company has a 50-day moving average of $40.30 and a 200 day moving average of $36.47. The firm has a market cap of $2.11 billion, a P/E ratio of 17.90 and a beta of 1.47. Barnes Group Inc. has a 12 month low of $30.07 and a 12 month high of $41.86.
Barnes Group (NYSE:B) last issued its earnings results on Friday, July 29th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. The firm had revenue of $307 million for the quarter, compared to the consensus estimate of $308.71 million. Barnes Group had a net margin of 10.18% and a return on equity of 11.69%. The business’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 earnings per share. Equities research analysts expect that Barnes Group Inc. will post $2.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Thursday, August 25th were paid a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, August 23rd. This represents a $0.52 annualized dividend and a dividend yield of 1.33%. Barnes Group’s dividend payout ratio is presently 23.74%.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Barnes Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th. Jefferies Group lifted their price objective on shares of Barnes Group from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $40.17.
In related news, SVP Christopher J. Stephens sold 23,039 shares of the stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $38.76, for a total transaction of $892,991.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Dawn N. Edwards sold 5,700 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $40.24, for a total transaction of $229,368.00. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by insiders.
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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