BidaskClub upgraded shares of Barnes Group, Inc. (NYSE:B) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday morning.
B has been the topic of several other reports. Oppenheimer Holdings, Inc. upped 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. Jefferies Group LLC reaffirmed a buy rating and issued a $66.00 price target on shares of Barnes Group in a report on Thursday, June 8th. Zacks Investment Research downgraded shares of Barnes Group from a buy rating to a hold rating in a research report on Friday, May 19th. Finally, ValuEngine upgraded shares of Barnes Group from a hold rating to a buy rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $58.20.
Shares of Barnes Group (NYSE:B) opened at 60.57 on Thursday. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 21.18 and a beta of 1.43. Barnes Group has a 52 week low of $37.88 and a 52 week high of $62.37. The firm has a 50 day moving average price of $60.11 and a 200 day moving average price of $55.11.
Barnes Group (NYSE:B) last announced its quarterly earnings data on Friday, July 28th. The industrial products company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $364.49 million for the quarter, compared to analyst estimates of $337.69 million. Barnes Group had a net margin of 11.69% and a return on equity of 13.02%. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 earnings per share. Equities analysts forecast that Barnes Group will post $2.89 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 24th will be paid a dividend of $0.14 per share. The ex-dividend date is Tuesday, August 22nd. This represents a $0.56 annualized dividend and a yield of 0.92%. Barnes Group’s dividend payout ratio is presently 19.58%.
In other news, Director Thomas O. Barnes sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $59.93, for a total value of $119,860.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Marian Acker sold 6,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $60.38, for a total transaction of $362,280.00. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Barnes Group by 40,783.4% in the first quarter. BlackRock Inc. now owns 6,069,547 shares of the industrial products company’s stock worth $311,610,000 after buying an additional 6,054,701 shares during the last quarter. Wasatch Advisors Inc. bought a new position in Barnes Group during the second quarter worth $35,388,000. Koch Industries Inc. bought a new position in Barnes Group during the second quarter worth $350,000. Vanguard Group Inc. boosted its position in Barnes Group by 5.5% in the first quarter. Vanguard Group Inc. now owns 4,532,470 shares of the industrial products company’s stock worth $232,698,000 after buying an additional 235,065 shares during the last quarter. Finally, Stifel Financial Corp bought a new position in Barnes Group during the first quarter worth $9,198,000. 83.53% of the stock is owned by hedge funds and other institutional investors.
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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