Mondrian Investment Partners LTD Has $2.86 Million Stake in Barnes Group, Inc. (NYSE:B)
Mondrian Investment Partners LTD cut its stake in Barnes Group, Inc. (NYSE:B) by 21.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 48,826 shares of the industrial products company’s stock after selling 13,222 shares during the period. Mondrian Investment Partners LTD’s holdings in Barnes Group were worth $2,858,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC increased its position in shares of Barnes Group by 0.5% in the first quarter. Jennison Associates LLC now owns 19,338 shares of the industrial products company’s stock valued at $993,000 after buying an additional 99 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Barnes Group by 20.9% in the first quarter. Wells Fargo & Company MN now owns 156,307 shares of the industrial products company’s stock valued at $8,025,000 after buying an additional 26,992 shares during the last quarter. Dubuque Bank & Trust Co. purchased a new position in shares of Barnes Group during the first quarter valued at approximately $216,000. Glen Harbor Capital Management LLC increased its position in shares of Barnes Group by 0.7% in the first quarter. Glen Harbor Capital Management LLC now owns 24,048 shares of the industrial products company’s stock valued at $1,235,000 after buying an additional 160 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. increased its position in shares of Barnes Group by 4.4% in the first quarter. Independent Portfolio Consultants Inc. now owns 16,705 shares of the industrial products company’s stock valued at $858,000 after buying an additional 710 shares during the last quarter. 85.50% of the stock is currently owned by institutional investors.
Barnes Group, Inc. (NYSE:B) opened at 58.68 on Friday. Barnes Group, Inc. has a 12 month low of $37.88 and a 12 month high of $62.37. The firm’s 50-day moving average is $59.69 and its 200-day moving average is $54.25. The stock has a market capitalization of $3.16 billion, a P/E ratio of 20.52 and a beta of 1.43.
Barnes Group (NYSE:B) last released its earnings results on Friday, July 28th. The industrial products company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. Barnes Group had a return on equity of 13.02% and a net margin of 11.69%. The business had revenue of $364.49 million for the quarter, compared to analyst estimates of $337.69 million. During the same quarter last year, the firm posted $0.63 earnings per share. The business’s revenue was up 18.8% compared to the same quarter last year. On average, equities analysts expect that Barnes Group, Inc. will post $2.89 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 24th will be paid a $0.14 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $0.56 dividend on an annualized basis and a yield of 0.95%. Barnes Group’s payout ratio is 19.58%.
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A number of brokerages have issued reports on B. Oppenheimer Holdings, Inc. boosted their price objective on shares of Barnes Group from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Monday, July 31st. BidaskClub downgraded shares of Barnes Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Jefferies Group LLC reissued a “buy” rating and set a $66.00 price objective on shares of Barnes Group in a research report on Thursday, June 8th. ValuEngine raised shares of Barnes Group from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research raised shares of 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 Monday, May 22nd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $58.20.
In other news, VP Marian Acker sold 6,000 shares of the firm’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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Thomas O. Barnes sold 1,000 shares of the firm’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $56.06, for a total value of $56,060.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,000 shares of company stock worth $530,340. 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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