FDx Advisors Inc. Invests $460,000 in Barnes Group, Inc. (B)
FDx Advisors Inc. purchased a new stake in shares of Barnes Group, Inc. (NYSE:B) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 6,530 shares of the industrial products company’s stock, valued at approximately $460,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacad Investment Ltd. boosted its stake in Barnes Group by 5.9% during the second quarter. Pacad Investment Ltd. now owns 1,800 shares of the industrial products company’s stock worth $105,000 after acquiring an additional 100 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Barnes Group during the second quarter worth about $109,000. YorkBridge Wealth Partners LLC boosted its stake in Barnes Group by 4,461.8% during the third quarter. YorkBridge Wealth Partners LLC now owns 1,551 shares of the industrial products company’s stock worth $109,000 after acquiring an additional 1,517 shares in the last quarter. LS Investment Advisors LLC boosted its stake in Barnes Group by 4.6% during the second quarter. LS Investment Advisors LLC now owns 1,942 shares of the industrial products company’s stock worth $114,000 after acquiring an additional 85 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Barnes Group by 9.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,092 shares of the industrial products company’s stock worth $122,000 after acquiring an additional 188 shares in the last quarter. Institutional investors own 86.36% of the company’s stock.
Barnes Group, Inc. (B) opened at $63.39 on Monday. The stock has a market cap of $3,398.37, a P/E ratio of 22.24, a PEG ratio of 2.22 and a beta of 1.37. Barnes Group, Inc. has a 52 week low of $43.97 and a 52 week high of $72.87. The company has a quick ratio of 1.45, a current ratio of 2.20 and a debt-to-equity ratio of 0.37.
Barnes Group (NYSE:B) last issued its earnings results on Friday, October 27th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.03). The firm had revenue of $357.16 million during the quarter, compared to the consensus estimate of $351.01 million. Barnes Group had a return on equity of 12.44% and a net margin of 11.20%. The company’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.71 EPS. research analysts forecast that Barnes Group, Inc. will post 2.85 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Wednesday, November 22nd will be given 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 yield of 0.88%. Barnes Group’s dividend payout ratio (DPR) is 19.72%.
Several equities research analysts recently commented on the stock. Oppenheimer Holdings, Inc. boosted their price objective on shares of Barnes Group from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Monday, July 31st. BidaskClub lowered shares of Barnes Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. SunTrust Banks, Inc. reissued a “hold” rating and set a $60.00 price objective on shares of Barnes Group in a research note on Thursday, October 12th. Zacks Investment Research downgraded shares of Barnes Group from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Finally, Robert W. Baird reiterated a “hold” rating and issued a $65.00 target price on shares of Barnes Group in a research note on Sunday, October 29th. Five analysts have rated the stock with a hold rating, three have assigned 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 a consensus price target of $65.60.
In related news, Director Thomas O. Barnes sold 1,500 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $66.36, for a total transaction of $99,540.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Christopher J. Stephens sold 15,700 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $63.53, for a total transaction of $997,421.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,955 shares of company stock worth $1,143,182. 8.50% of the stock is owned by insiders.
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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