Several other equities analysts have also weighed in on B. Zacks Investment Research lowered Barnes Group from a hold rating to a sell rating and set a $55.00 price objective for the company. in a report on Thursday, August 1st. UBS Group reduced their price objective on Barnes Group from $60.00 to $56.00 and set a neutral rating for the company in a report on Tuesday, July 30th. Alembic Global Advisors assumed coverage on Barnes Group in a report on Friday, May 17th. They set an overweight rating and a $67.00 price objective for the company. Finally, SunTrust Banks lowered Barnes Group from a hold rating to a sell rating and reduced their price objective for the company from $53.00 to $48.00 in a report on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $60.67.
B stock opened at $56.00 on Friday. The firm has a market cap of $2.79 billion, a PE ratio of 17.39, a P/E/G ratio of 2.51 and a beta of 1.46. The company has a quick ratio of 1.43, a current ratio of 2.13 and a debt-to-equity ratio of 0.73. The business has a 50 day moving average of $47.00 and a 200-day moving average of $52.57. Barnes Group has a 12-month low of $42.39 and a 12-month high of $72.70.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Friday, August 23rd. Barnes Group’s payout ratio is currently 19.88%.
In other news, VP Marian Acker sold 2,274 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $45.43, for a total value of $103,307.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mylle H. Mangum sold 1,000 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $51.89, for a total value of $51,890.00. The disclosure for this sale can be found here. Insiders sold 3,739 shares of company stock valued at $175,263 over the last ninety days. Corporate insiders own 8.35% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Comerica Bank raised its position in shares of Barnes Group by 5.4% in the first quarter. Comerica Bank now owns 48,775 shares of the industrial products company’s stock worth $2,616,000 after buying an additional 2,494 shares in the last quarter. M Holdings Securities Inc. purchased a new stake in shares of Barnes Group in the first quarter worth $1,051,000. Victory Capital Management Inc. purchased a new stake in shares of Barnes Group in the first quarter worth $375,000. First Trust Advisors LP raised its position in shares of Barnes Group by 322.3% in the second quarter. First Trust Advisors LP now owns 60,337 shares of the industrial products company’s stock worth $3,399,000 after buying an additional 46,050 shares in the last quarter. Finally, Anchor Capital Advisors LLC raised its position in shares of Barnes Group by 2.6% in the first quarter. Anchor Capital Advisors LLC now owns 39,444 shares of the industrial products company’s stock worth $2,028,000 after buying an additional 984 shares in the last quarter. 85.83% of the stock is owned by hedge funds and other institutional investors.
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, automation, personal care, packaging, electronics, and medical devices.
Further Reading: Cost of Debt
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