California Public Employees Retirement System Has $5.36 Million Holdings in Barnes Group, Inc. (B)

California Public Employees Retirement System grew its position in shares of Barnes Group, Inc. (NYSE:B) by 9.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 91,500 shares of the industrial products company’s stock after purchasing an additional 7,800 shares during the period. California Public Employees Retirement System owned 0.17% of Barnes Group worth $5,355,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Alps Advisors Inc. boosted its position in shares of Barnes Group by 0.3% in the second quarter. Alps Advisors Inc. now owns 9,638 shares of the industrial products company’s stock worth $564,000 after acquiring an additional 25 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Barnes Group by 1.0% in the second quarter. Bank of Montreal Can now owns 8,204 shares of the industrial products company’s stock worth $480,000 after acquiring an additional 81 shares during the last quarter. LS Investment Advisors LLC boosted its position in shares of 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 worth $114,000 after acquiring an additional 85 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Barnes Group by 0.5% in the second quarter. Jennison Associates LLC now owns 19,427 shares of the industrial products company’s stock worth $1,137,000 after acquiring an additional 89 shares during the last quarter. Finally, Amalgamated Bank boosted its position in shares of Barnes Group by 1.3% in the second quarter. Amalgamated Bank now owns 6,893 shares of the industrial products company’s stock worth $403,000 after acquiring an additional 89 shares during the last quarter. 85.09% of the stock is currently owned by institutional investors.

WARNING: This article was first posted by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this article on another publication, it was stolen and reposted in violation of US & international copyright and trademark laws. The original version of this article can be accessed at https://sportsperspectives.com/2017/10/18/california-public-employees-retirement-system-has-5-36-million-holdings-in-barnes-group-inc-b.html.

Barnes Group, Inc. (NYSE:B) opened at 71.97 on Wednesday. The company has a 50-day moving average of $67.18 and a 200 day moving average of $59.47. Barnes Group, Inc. has a 12-month low of $37.95 and a 12-month high of $73.84. The stock has a market cap of $3.87 billion, a price-to-earnings ratio of 25.16 and a beta of 1.45.

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, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.12. Barnes Group had a return on equity of 13.02% and a net margin of 11.69%. The company had revenue of $364.49 million for the quarter, compared to analysts’ expectations of $337.69 million. During the same quarter in the previous year, the business posted $0.63 EPS. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. Equities analysts anticipate that Barnes Group, Inc. will post $2.90 earnings per share for the current year.

Several equities research analysts recently issued reports on the stock. SunTrust Banks, Inc. reissued a “hold” rating and issued a $60.00 target price on shares of Barnes Group in a research report on Thursday, October 12th. ValuEngine cut shares of Barnes Group from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Deutsche Bank AG raised their target price on shares of Barnes Group from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, September 8th. BidaskClub raised shares of Barnes Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. Finally, Oppenheimer Holdings, Inc. raised their target price on shares of Barnes Group from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Monday, July 31st. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Barnes Group has a consensus rating of “Buy” and a consensus price target of $65.75.

In related news, Director Thomas O. Barnes sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $59.93, for a total value of $119,860.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Marian Acker sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $60.38, for a total value of $362,280.00. The disclosure for this sale can be found here. In the last three months, insiders sold 8,755 shares of company stock valued at $528,361. 8.50% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding B? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Barnes Group, Inc. (NYSE:B).

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

Receive News & Ratings for Barnes Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barnes Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply