Anchor Capital Advisors LLC Reduces Stake in Barnes Group, Inc. (B)
Anchor Capital Advisors LLC lowered its position in Barnes Group, Inc. (NYSE:B) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,669 shares of the industrial products company’s stock after selling 774 shares during the period. Anchor Capital Advisors LLC owned about 0.05% of Barnes Group worth $1,619,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Guggenheim Capital LLC raised its stake in shares of Barnes Group by 10.7% in the fourth quarter. Guggenheim Capital LLC now owns 25,720 shares of the industrial products company’s stock worth $1,219,000 after buying an additional 2,485 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of Barnes Group by 2.4% in the fourth quarter. Teachers Advisors LLC now owns 468,226 shares of the industrial products company’s stock worth $22,203,000 after buying an additional 11,122 shares in the last quarter. Fruth Investment Management purchased a new stake in shares of Barnes Group during the first quarter worth $205,000. Creative Planning raised its stake in shares of Barnes Group by 7.8% in the first quarter. Creative Planning now owns 11,128 shares of the industrial products company’s stock worth $571,000 after buying an additional 809 shares in the last quarter. Finally, First National Bank of Omaha raised its stake in shares of Barnes Group by 31.1% in the first quarter. First National Bank of Omaha now owns 25,903 shares of the industrial products company’s stock worth $1,330,000 after buying an additional 6,140 shares in the last quarter. Institutional investors and hedge funds own 85.50% of the company’s stock.
Shares of Barnes Group, Inc. (B) opened at 60.43 on Monday. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 21.13 and a beta of 1.43. The firm has a 50 day moving average price of $59.38 and a 200-day moving average price of $53.62. Barnes Group, Inc. has a 52-week low of $37.88 and a 52-week high of $62.37.
Barnes Group (NYSE:B) last announced its quarterly earnings data on Friday, July 28th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.12. Barnes Group had a return on equity of 13.02% and a net margin of 11.69%. The firm had revenue of $364.49 million for the quarter, compared to analysts’ expectations of $337.69 million. During the same period last year, the firm earned $0.63 earnings per share. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. Equities research analysts anticipate that Barnes Group, Inc. will post $2.89 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 24th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.93%. Barnes Group’s dividend payout ratio (DPR) is currently 19.58%.
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A number of equities research analysts recently weighed in on B shares. Sidoti lowered Barnes Group from a “buy” rating to a “neutral” rating in a research report on Monday, April 24th. Jefferies Group LLC restated a “buy” rating and set a $63.00 price objective on shares of Barnes Group in a research report on Tuesday, May 2nd. Zacks Investment Research upgraded Barnes Group from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research report on Wednesday, May 3rd. ValuEngine upgraded Barnes Group from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, BidaskClub lowered Barnes Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $58.20.
In related news, Director Thomas O. Barnes sold 1,000 shares of the firm’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $56.06, for a total value of $56,060.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Marian Acker sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $60.38, for a total value of $362,280.00. The disclosure for this sale can be found here. Insiders have sold 9,000 shares of company stock worth $530,340 over the last ninety days. Insiders own 8.50% of the company’s stock.
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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