Dynamic Technology Lab Private Ltd Sells 8,243 Shares of Barnes Group Inc. (B)
Dynamic Technology Lab Private Ltd cut its position in Barnes Group Inc. (NYSE:B) by 40.7% during the second quarter, Holdings Channel reports. The fund owned 12,032 shares of the company’s stock after selling 8,243 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Barnes Group were worth $399,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Barnes Group by 5.7% in the second quarter. Vanguard Group Inc. now owns 3,966,594 shares of the company’s stock worth $131,374,000 after buying an additional 212,741 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Barnes Group by 1.8% in the second quarter. Principal Financial Group Inc. now owns 364,890 shares of the company’s stock worth $12,086,000 after buying an additional 6,491 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Barnes Group by 7.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,345,611 shares of the company’s stock worth $110,804,000 after buying an additional 244,204 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Barnes Group by 18.7% in the second quarter. Teacher Retirement System of Texas now owns 7,181 shares of the company’s stock worth $238,000 after buying an additional 1,129 shares in the last quarter. Finally, Tributary Capital Management LLC increased its position in shares of Barnes Group by 42.0% in the second quarter. Tributary Capital Management LLC now owns 235,301 shares of the company’s stock worth $7,793,000 after buying an additional 69,585 shares in the last quarter. Institutional investors and hedge funds own 83.55% of the company’s stock.
Barnes Group Inc. (NYSE:B) opened at 40.43 on Friday. The firm has a 50-day moving average price of $40.40 and a 200-day moving average price of $36.06. Barnes Group Inc. has a 52 week low of $30.07 and a 52 week high of $41.86. The stock has a market cap of $2.18 billion, a P/E ratio of 18.47 and a beta of 1.54.
Barnes Group (NYSE:B) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. The company had revenue of $307 million for the quarter, compared to the consensus estimate of $308.71 million. Barnes Group had a return on equity of 11.69% and a net margin of 10.18%. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.62 EPS. On average, equities research analysts predict that Barnes Group Inc. will post $2.51 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Thursday, August 25th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Tuesday, August 23rd. Barnes Group’s dividend payout ratio (DPR) is currently 23.74%.
B has been the topic of a number of research analyst reports. Jefferies Group lifted 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. Zacks Investment Research downgraded Barnes Group from a “hold” rating to a “sell” rating in a report on Wednesday, June 8th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Barnes Group presently has an average rating of “Buy” and an average target price of $39.83.
In related news, SVP Christopher J. Stephens sold 23,039 shares of the firm’s stock in a transaction on Friday, September 16th. The stock was 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 this hyperlink. Also, Director Gary G. Benanav sold 9,901 shares of the firm’s 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 disclosure for this sale can be found here. 7.80% of the stock is 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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