Barnes Group Inc. (B) Hits New 1-Year High at $41.50
Barnes Group Inc. (NYSE:B) shares reached a new 52-week high on Friday . The company 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.
A number of research analysts have weighed in on B shares. Zacks Investment Research raised Barnes Group from a “sell” rating to a “hold” rating in a report on Friday, May 20th. Jefferies Group lifted their target price on Barnes Group from $41.00 to $44.00 and gave the company a “buy” rating in a report on Monday, August 1st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $39.83.
The firm has a market capitalization of $2.24 billion and a P/E ratio of 18.97. The company has a 50-day moving average of $37.37 and a 200 day moving average of $34.73.
Barnes Group (NYSE:B) last released its quarterly earnings data on Friday, July 29th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. The business had revenue of $307 million for the quarter, compared to analysts’ expectations of $308.71 million. During the same period last year, the business earned $0.62 earnings per share. The company’s quarterly revenue was down 2.6% on a year-over-year basis. On average, equities research analysts forecast that Barnes Group Inc. will post $2.51 EPS for the current fiscal year.
The firm also recently disclosed 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. The ex-dividend date is Tuesday, August 23rd. This represents a $0.52 annualized dividend and a dividend yield of 1.27%.
In other Barnes Group news, SVP Dawn N. Edwards sold 5,700 shares of the stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $40.24, for a total value of $229,368.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Hassell H. Mcclellan sold 4,400 shares of the stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $32.98, for a total value of $145,112.00. Following the completion of the transaction, the director now directly owns 17,213 shares in the company, valued at approximately $567,684.74. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently bought and sold shares of B. State of Tennessee Treasury Department purchased a new position in Barnes Group during the fourth quarter worth $1,401,000. California Public Employees Retirement System increased 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 in the last quarter. Principal Financial Group Inc. increased 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 in the last quarter. Finally, Jennison Associates LLC increased 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 in the last quarter.
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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