California Public Employees Retirement System Lowers Stake in Barnes Group Inc. (B)

California Public Employees Retirement System cut its position in shares of Barnes Group Inc. (NYSE:B) by 10.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 82,692 shares of the industrial products company’s stock after selling 9,433 shares during the period. California Public Employees Retirement System’s holdings in Barnes Group were worth $4,434,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Private Capital Group LLC grew its position in Barnes Group by 213.2% in the fourth quarter. Private Capital Group LLC now owns 758 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 516 shares during the period. KBC Group NV bought a new stake in Barnes Group in the fourth quarter valued at $44,000. Nisa Investment Advisors LLC grew its position in Barnes Group by 269.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 960 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 700 shares during the period. Silvant Capital Management LLC bought a new stake in Barnes Group in the fourth quarter valued at $95,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in Barnes Group in the third quarter valued at $216,000. Institutional investors and hedge funds own 84.66% of the company’s stock.

A number of equities analysts have commented on B shares. Sidoti raised Barnes Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 2nd. Zacks Investment Research raised Barnes Group from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Friday, December 28th. DA Davidson set a $66.00 price target on Barnes Group and gave the company a “hold” rating in a research note on Monday, November 19th. SunTrust Banks reaffirmed a “hold” rating and set a $57.00 price target on shares of Barnes Group in a research note on Friday, February 22nd. Finally, UBS Group lowered Barnes Group from a “buy” rating to a “neutral” rating and cut their price target for the company from $72.00 to $65.00 in a research note on Friday, February 15th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $66.17.

Shares of B opened at $55.03 on Friday. The company has a current ratio of 2.25, a quick ratio of 1.51 and a debt-to-equity ratio of 0.78. Barnes Group Inc. has a 12-month low of $49.06 and a 12-month high of $72.70. The firm has a market cap of $2.83 billion, a PE ratio of 17.09, a PEG ratio of 2.46 and a beta of 1.47.

Barnes Group (NYSE:B) last issued its quarterly earnings results on Friday, February 22nd. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.02. Barnes Group had a return on equity of 13.95% and a net margin of 11.11%. The business had revenue of $384.10 million for the quarter, compared to analyst estimates of $391.37 million. During the same quarter in the prior year, the firm posted $0.71 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Research analysts anticipate that Barnes Group Inc. will post 3.27 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Monday, February 25th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Friday, February 22nd. Barnes Group’s dividend payout ratio (DPR) is presently 19.88%.

In other Barnes Group news, CFO Christopher J. Stephens sold 13,200 shares of the firm’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $58.94, for a total transaction of $778,008.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Richard J. Hipple bought 1,000 shares of Barnes Group stock in a transaction on Wednesday, February 27th. The shares were bought at an average price of $58.83 per share, for a total transaction of $58,830.00. The disclosure for this purchase can be found here. Corporate insiders own 7.93% of the company’s stock.

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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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