Texas Permanent School Fund raised its position in shares of Barnes Group, Inc. (NYSE:B) by 0.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,478 shares of the industrial products company’s stock after buying an additional 237 shares during the period. Texas Permanent School Fund’s holdings in Barnes Group were worth $2,135,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. LS Investment Advisors LLC boosted its stake in Barnes Group by 4.6% in the second quarter. LS Investment Advisors LLC now owns 1,942 shares of the industrial products company’s stock valued at $114,000 after buying an additional 85 shares in the last quarter. Kempner Capital Management Inc. purchased a new stake in Barnes Group during the second quarter valued at about $222,000. Janney Montgomery Scott LLC purchased a new stake in Barnes Group during the second quarter valued at about $234,000. Teacher Retirement System of Texas purchased a new stake in Barnes Group during the first quarter valued at about $209,000. Finally, Verity Asset Management Inc. purchased a new stake in Barnes Group during the first quarter valued at about $215,000. Institutional investors own 85.50% of the company’s stock.

Barnes Group, Inc. (NYSE:B) opened at 59.21 on Friday. The stock has a 50 day moving average of $59.66 and a 200-day moving average of $54.15. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 20.70 and a beta of 1.43. Barnes Group, Inc. has a one year low of $37.88 and a one year high of $62.37.

Barnes Group (NYSE:B) last issued its quarterly earnings results on Friday, July 28th. The industrial products company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. Barnes Group had a net margin of 11.69% and a return on equity of 13.02%. The business had revenue of $364.49 million for the quarter, compared to the consensus estimate of $337.69 million. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. On average, equities analysts predict that Barnes Group, Inc. will post $2.89 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 24th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Tuesday, August 22nd. Barnes Group’s dividend payout ratio (DPR) is presently 19.58%.

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Several analysts have issued reports on B shares. Sidoti cut shares of Barnes Group from a “buy” rating to a “neutral” rating in a research note on Monday, April 24th. Zacks Investment Research upgraded shares of Barnes Group from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Monday, May 22nd. ValuEngine upgraded shares of Barnes Group from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Jefferies Group LLC reiterated a “buy” rating and issued a $63.00 target price on shares of Barnes Group in a research note on Tuesday, May 2nd. Finally, BidaskClub cut shares of Barnes Group from a “strong-buy” rating to a “buy” rating in a research note 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. Barnes Group presently has a consensus rating of “Buy” and a consensus target price of $58.20.

In other news, Director Hassell H. Mcclellan sold 2,000 shares of the business’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $56.00, for a total value of $112,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Marian Acker sold 6,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $60.38, for a total transaction of $362,280.00. The disclosure for this sale can be found here. Insiders sold 9,000 shares of company stock worth $530,340 in the last three months. Insiders own 8.50% of the company’s stock.

Barnes Group Company Profile

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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Institutional Ownership by Quarter for Barnes Group (NYSE:B)

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