Keybank National Association OH Trims Position in Barnes Group, Inc. (B)
Keybank National Association OH decreased its holdings in Barnes Group, Inc. (NYSE:B) by 13.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,655 shares of the company’s stock after selling 3,787 shares during the quarter. Keybank National Association OH’s holdings in Barnes Group were worth $1,737,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in B. PNC Financial Services Group Inc. increased its stake in Barnes Group by 143.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,027 shares of the company’s stock valued at $294,000 after buying an additional 2,963 shares during the period. Fisher Asset Management LLC acquired a new position in Barnes Group in the 3rd quarter valued at $6,274,000. First Trust Advisors LP increased its stake in Barnes Group by 7.0% in the 2nd quarter. First Trust Advisors LP now owns 111,842 shares of the company’s stock valued at $6,546,000 after buying an additional 7,269 shares during the period. BNP Paribas Arbitrage SA increased its stake in Barnes Group by 52.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 17,979 shares of the company’s stock valued at $1,052,000 after buying an additional 6,185 shares during the period. Finally, Capital Fund Management S.A. acquired a new position in Barnes Group in the 2nd quarter valued at $304,000. Hedge funds and other institutional investors own 86.98% of the company’s stock.
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Several equities analysts have issued reports on the stock. ValuEngine cut shares of Barnes Group from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. SunTrust Banks, Inc. reissued a “hold” rating and issued a $60.00 price objective on shares of Barnes Group in a research note on Thursday, October 12th. Robert W. Baird reissued a “hold” rating and issued a $65.00 price objective on shares of Barnes Group in a research note on Sunday, October 29th. Zacks Investment Research cut shares of Barnes Group from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Finally, Deutsche Bank AG boosted their price objective on shares of Barnes Group from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, September 8th. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of C$65.60.
Barnes Group, Inc. (NYSE B) opened at C$62.53 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.45 and a current ratio of 2.20. Barnes Group, Inc. has a 12 month low of C$42.41 and a 12 month high of C$72.87. The firm has a market cap of $3,352.30, a price-to-earnings ratio of 21.94, a PEG ratio of 2.19 and a beta of 1.37.
Barnes Group (NYSE:B) last posted its quarterly earnings results on Friday, October 27th. The company reported C$0.66 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.69 by C($0.03). Barnes Group had a return on equity of 12.44% and a net margin of 11.20%. The company had revenue of C$357.16 million for the quarter, compared to analyst estimates of C$351.01 million. During the same period last year, the company earned $0.71 earnings per share. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. research analysts predict that Barnes Group, Inc. will post 2.85 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 22nd will be paid a dividend of $0.14 per share. The ex-dividend date is Tuesday, November 21st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.90%. Barnes Group’s dividend payout ratio (DPR) is presently 19.72%.
In related news, SVP Christopher J. Stephens sold 15,700 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of C$63.53, for a total value of C$997,421.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas O. Barnes sold 1,500 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of C$66.36, for a total transaction of C$99,540.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,955 shares of company stock worth $1,143,182. Corporate 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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