Barnes Group Inc. (B) Sets New 1-Year High at $41.86
Barnes Group Inc. (NYSE:B) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $41.86 and last traded at $41.41, with a volume of 70,830 shares trading hands. The stock had previously closed at $41.34.
Several research firms recently issued reports on B. Zacks Investment Research downgraded Barnes Group from a “hold” rating to a “sell” rating in a report on Wednesday, June 8th. Jefferies Group upped their price target on Barnes Group from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, August 1st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $39.83.
The firm has a market capitalization of $2.21 billion and a price-to-earnings ratio of 18.77. The stock has a 50-day moving average of $38.39 and a 200-day moving average of $35.08.
Barnes Group (NYSE:B) last posted its quarterly earnings data 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 business had revenue of $307 million for the quarter, compared to analyst estimates of $308.71 million. Barnes Group’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.62 EPS. Equities analysts predict that Barnes Group Inc. will post $2.51 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Thursday, August 25th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Tuesday, August 23rd.
In related news, Director Gary G. Benanav sold 9,901 shares of Barnes Group stock in a transaction on Friday, August 19th. The stock was sold at an average price of $41.51, for a total value of $410,990.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Dawn N. Edwards sold 5,700 shares of Barnes Group stock in a transaction on Wednesday, August 10th. The shares were 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 hedge fund recently raised its stake in Barnes Group stock. Jennison Associates LLC boosted its position in shares of Barnes Group Inc. (NYSE:B) by 12.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 445,634 shares of the company’s stock after buying an additional 47,827 shares during the period. Jennison Associates LLC owned 0.81% of Barnes Group worth $15,771,000 as of its most recent SEC filing.
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.