Harfst & Associates Inc. Takes $880,000 Position in Barnes Group Inc. (B)

Harfst & Associates Inc. acquired a new stake in Barnes Group Inc. (NYSE:B) in the third quarter, Holdings Channel reports. The firm acquired 12,391 shares of the industrial products company’s stock, valued at approximately $880,000. Barnes Group makes up approximately 0.4% of Harfst & Associates Inc.’s portfolio, making the stock its 15th biggest position.

A number of other institutional investors have also added to or reduced their stakes in the stock. First Hawaiian Bank bought a new position in Barnes Group in the 3rd quarter valued at $167,000. Tower Research Capital LLC TRC bought a new position in Barnes Group in the 2nd quarter valued at $184,000. Janney Montgomery Scott LLC bought a new position in Barnes Group in the 2nd quarter valued at $226,000. Visionary Asset Management Inc. bought a new position in Barnes Group in the 3rd quarter valued at $227,000. Finally, Jane Street Group LLC bought a new position in Barnes Group in the 1st quarter valued at $284,000. Institutional investors and hedge funds own 84.90% of the company’s stock.

B has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Barnes Group from a “hold” rating to a “sell” rating in a report on Monday. SunTrust Banks dropped their price objective on shares of Barnes Group from $63.00 to $61.00 and set a “hold” rating for the company in a report on Monday. ValuEngine downgraded shares of Barnes Group from a “buy” rating to a “hold” rating in a report on Saturday, October 6th. Oppenheimer lifted their price objective on shares of Barnes Group from $75.00 to $82.00 and gave the stock an “outperform” rating in a report on Tuesday, September 25th. Finally, UBS Group initiated coverage on shares of Barnes Group in a report on Wednesday, August 15th. They set a “buy” rating and a $80.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $72.00.

Barnes Group stock opened at $56.53 on Thursday. The company has a quick ratio of 1.50, a current ratio of 2.27 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 2.52 and a beta of 1.31. Barnes Group Inc. has a twelve month low of $52.42 and a twelve month high of $72.70.

Barnes Group (NYSE:B) last posted its quarterly earnings results on Friday, October 26th. The industrial products company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.03). The business had revenue of $369.80 million during the quarter, compared to the consensus estimate of $379.27 million. Barnes Group had a return on equity of 13.39% and a net margin of 4.60%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 earnings per share. On average, equities analysts anticipate that Barnes Group Inc. will post 3.23 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Tuesday, November 27th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.13%. The ex-dividend date is Monday, November 26th. Barnes Group’s dividend payout ratio is presently 22.22%.

Barnes Group Company 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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