Barnes Group Inc. (B) Sets New 1-Year High at $41.86
Shares of Barnes Group Inc. (NYSE:B) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $41.86 and last traded at $41.41, with a volume of 70,830 shares changing hands. The stock had previously closed at $41.34.
A number of analysts have issued reports on the stock. Zacks Investment Research raised shares of Barnes Group from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Jefferies Group boosted their price objective on shares of Barnes Group from $41.00 to $44.00 and gave the company a “buy” rating in a report on Monday, August 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $39.83.
The firm has a 50 day moving average price of $38.61 and a 200 day moving average price of $35.15. The stock has a market capitalization of $2.22 billion and a P/E ratio of 18.88.
Barnes Group (NYSE:B) last released its quarterly earnings results on Friday, July 29th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates 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. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.62 earnings per share. On average, analysts forecast that Barnes Group Inc. will post $2.51 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Thursday, August 25th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Tuesday, August 23rd.
In related news, Director Gary G. Benanav sold 9,901 shares of the firm’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $41.51, for a total transaction of $410,990.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Dawn N. Edwards sold 5,700 shares of the firm’s stock in a transaction dated 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.
A hedge fund recently raised its stake in Barnes Group stock. Jennison Associates LLC increased its position in Barnes Group Inc. (NYSE:B) by 12.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting 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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