Wooster Corthell Wealth Management Inc. reduced its holdings in Barnes Group Inc. (NYSE:B) by 3.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,428 shares of the industrial products company’s stock after selling 2,186 shares during the period. Barnes Group makes up about 2.4% of Wooster Corthell Wealth Management Inc.’s investment portfolio, making the stock its 11th biggest position. Wooster Corthell Wealth Management Inc. owned approximately 0.13% of Barnes Group worth $4,860,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. raised its holdings in Barnes Group by 6.3% in the second quarter. BlackRock Inc. now owns 6,826,299 shares of the industrial products company’s stock worth $402,068,000 after purchasing an additional 406,101 shares during the period. Wasatch Advisors Inc. raised its holdings in Barnes Group by 16.6% in the second quarter. Wasatch Advisors Inc. now owns 2,534,284 shares of the industrial products company’s stock worth $149,269,000 after purchasing an additional 361,193 shares during the period. Macquarie Group Ltd. raised its holdings in Barnes Group by 4.7% in the second quarter. Macquarie Group Ltd. now owns 1,865,556 shares of the industrial products company’s stock worth $109,881,000 after purchasing an additional 83,240 shares during the period. Janus Henderson Group PLC raised its holdings in Barnes Group by 4.9% in the second quarter. Janus Henderson Group PLC now owns 553,802 shares of the industrial products company’s stock worth $32,619,000 after purchasing an additional 26,044 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Barnes Group by 0.6% in the second quarter. Victory Capital Management Inc. now owns 471,373 shares of the industrial products company’s stock worth $27,764,000 after purchasing an additional 2,852 shares during the period. Institutional investors and hedge funds own 84.95% of the company’s stock.

Several equities research analysts have weighed in on B shares. Zacks Investment Research upgraded shares of Barnes Group from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a report on Tuesday, July 31st. ValuEngine raised shares of Barnes Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 28th. UBS Group assumed coverage on shares of Barnes Group in a research report on Wednesday, August 15th. They set a “buy” rating and a $80.00 price objective for the company. DA Davidson set a $67.00 price objective on shares of Barnes Group and gave the stock a “hold” rating in a research report on Tuesday, July 31st. Finally, SunTrust Banks reissued a “hold” rating and set a $63.00 price objective on shares of Barnes Group in a research report on Friday, July 27th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $72.33.

Shares of B stock traded down $0.06 during trading hours on Friday, hitting $60.73. 256,000 shares of the company were exchanged, compared to its average volume of 223,588. The company has a quick ratio of 1.55, a current ratio of 2.25 and a debt-to-equity ratio of 0.47. Barnes Group Inc. has a 52 week low of $52.42 and a 52 week high of $72.86. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 21.26, a P/E/G ratio of 2.74 and a beta of 1.31.

Barnes Group (NYSE:B) last issued its quarterly earnings data on Friday, July 27th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.15. Barnes Group had a net margin of 4.39% and a return on equity of 12.69%. The company had revenue of $375.32 million during the quarter, compared to the consensus estimate of $383.00 million. During the same quarter in the prior year, the firm earned $0.81 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. On average, equities analysts expect that Barnes Group Inc. will post 3.26 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Tuesday, November 27th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Monday, November 26th. Barnes Group’s dividend payout ratio is 22.22%.

Barnes Group Profile

Barnes Group Inc operates as an industrial and aerospace manufacturer, and service provider in the United States and internationally. Its Industrial segment offers precision components, products, and systems for applications serving various customers in end-markets, such as transportation, industrial equipment, consumer products, packaging, electronics, medical devices, and energy.

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

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