Barnes Group Inc. (B) Reaches New 1-Year High at $41.50
Shares of Barnes Group Inc. (NYSE:B) reached a new 52-week high on Friday . The stock traded as high as $41.50 and last traded at $41.42, with a volume of 114,810 shares changing hands. The stock had previously closed at $41.00.
B has been the topic of several recent research reports. Zacks Investment Research lowered Barnes Group from a “hold” rating to a “sell” rating in a report on Wednesday, June 8th. Jefferies Group increased their price target on Barnes Group from $41.00 to $44.00 and gave the company a “buy” rating in a report on Monday, August 1st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $39.83.
The firm has a 50 day moving average price of $37.61 and a 200-day moving average price of $34.79. The firm has a market cap of $2.23 billion and a price-to-earnings ratio of 18.96.
Barnes Group (NYSE:B) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. The firm earned $307 million during the quarter, compared to analyst estimates of $308.71 million. The business’s revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 earnings per share. Equities research analysts expect that Barnes Group Inc. will post $2.51 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Thursday, August 25th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Tuesday, August 23rd.
In other Barnes Group news, Director Hassell H. Mcclellan sold 4,400 shares of the business’s stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $32.98, for a total transaction of $145,112.00. Following the transaction, the director now owns 17,213 shares of the company’s stock, valued at $567,684.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Dawn N. Edwards sold 5,700 shares of the business’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $40.24, for a total value of $229,368.00. The disclosure for this sale can be found here.
A number of institutional investors recently added to or reduced their stakes in the company. State of Tennessee Treasury Department bought a new position in Barnes Group during the fourth quarter worth $1,401,000. Jennison Associates LLC raised its position in Barnes Group by 12.0% in the fourth quarter. Jennison Associates LLC now owns 445,634 shares of the company’s stock worth $15,771,000 after buying an additional 47,827 shares during the period. Principal Financial Group Inc. raised its position in Barnes Group by 4.9% in the fourth quarter. Principal Financial Group Inc. now owns 350,537 shares of the company’s stock worth $12,406,000 after buying an additional 16,366 shares during the period. Finally, California Public Employees Retirement System raised its position in Barnes Group by 0.9% in the fourth quarter. California Public Employees Retirement System now owns 102,200 shares of the company’s stock worth $3,617,000 after buying an additional 900 shares during the period.
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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