Champlain Investment Partners LLC grew its holdings in Barnes Group Inc. (NYSE:B) by 50.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,276,260 shares of the industrial products company’s stock after purchasing an additional 427,895 shares during the quarter. Champlain Investment Partners LLC’s holdings in Barnes Group were worth $65,613,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. AdvisorNet Financial Inc raised its position in shares of Barnes Group by 15.1% in the 4th quarter. AdvisorNet Financial Inc now owns 1,387 shares of the industrial products company’s stock valued at $74,000 after acquiring an additional 182 shares during the period. Two Sigma Securities LLC acquired a new stake in Barnes Group during the 4th quarter worth approximately $415,000. Geode Capital Management LLC raised its holdings in Barnes Group by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 508,810 shares of the industrial products company’s stock worth $27,282,000 after buying an additional 36,657 shares during the period. Founders Capital Management LLC raised its holdings in Barnes Group by 56.5% during the 1st quarter. Founders Capital Management LLC now owns 6,116 shares of the industrial products company’s stock worth $314,000 after buying an additional 2,208 shares during the period. Finally, Deutsche Bank AG raised its holdings in Barnes Group by 48.6% during the 4th quarter. Deutsche Bank AG now owns 159,265 shares of the industrial products company’s stock worth $8,539,000 after buying an additional 52,054 shares during the period. 85.35% of the stock is currently owned by institutional investors.
In related news, Director Thomas O. Barnes sold 2,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $55.48, for a total value of $110,960.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Dawn N. Edwards sold 1,750 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $55.44, for a total transaction of $97,020.00. The disclosure for this sale can be found here. Insiders have sold a total of 16,250 shares of company stock valued at $906,230 over the last ninety days. Company insiders own 8.35% of the company’s stock.
Barnes Group (NYSE:B) last issued its quarterly earnings results on Friday, April 26th. The industrial products company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. The company had revenue of $376.69 million during the quarter, compared to analysts’ expectations of $374.04 million. Barnes Group had a net margin of 10.72% and a return on equity of 14.01%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the business earned $0.72 EPS. As a group, sell-side analysts expect that Barnes Group Inc. will post 3.23 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 24th were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, May 23rd. This represents a $0.64 annualized dividend and a dividend yield of 1.16%. Barnes Group’s dividend payout ratio is currently 19.88%.
Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Barnes Group from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th. SunTrust Banks restated a “hold” rating and set a $57.00 target price on shares of Barnes Group in a report on Friday, February 22nd. UBS Group downgraded shares of Barnes Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $72.00 to $65.00 in a report on Friday, February 15th. Alembic Global Advisors initiated coverage on shares of Barnes Group in a report on Friday, May 17th. They set an “overweight” rating and a $67.00 target price on the stock. Finally, DA Davidson decreased their price target on shares of Barnes Group to $56.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $64.86.
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About Barnes Group
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, automation, personal care, packaging, electronics, and medical devices.
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