Geneva Capital Management LLC reduced its stake in shares of Barnes Group Inc. (NYSE:B - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 642,274 shares of the industrial products company's stock after selling 19,737 shares during the period. Geneva Capital Management LLC owned 1.27% of Barnes Group worth $20,957,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in B. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Barnes Group by 17.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,464 shares of the industrial products company's stock worth $355,000 after purchasing an additional 1,525 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Barnes Group by 2.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,839 shares of the industrial products company's stock valued at $742,000 after acquiring an additional 483 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in Barnes Group by 114.0% in the third quarter. Teacher Retirement System of Texas now owns 11,435 shares of the industrial products company's stock valued at $388,000 after acquiring an additional 6,092 shares during the last quarter. Mesirow Institutional Investment Management Inc. lifted its holdings in Barnes Group by 3.8% in the third quarter. Mesirow Institutional Investment Management Inc. now owns 259,548 shares of the industrial products company's stock valued at $8,817,000 after acquiring an additional 9,472 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Barnes Group by 29.4% in the third quarter. Victory Capital Management Inc. now owns 20,893 shares of the industrial products company's stock valued at $710,000 after acquiring an additional 4,741 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts recently commented on B shares. DA Davidson upgraded Barnes Group from a "neutral" rating to a "buy" rating and upped their price objective for the company from $35.00 to $45.00 in a report on Thursday, April 18th. Oppenheimer upped their price objective on Barnes Group from $36.00 to $43.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 20th. Finally, StockNews.com raised Barnes Group from a "sell" rating to a "hold" rating in a research report on Monday, February 19th.
Check Out Our Latest Analysis on Barnes Group
Barnes Group Stock Up 0.4 %
NYSE:B traded up $0.17 during trading hours on Friday, hitting $38.53. The company's stock had a trading volume of 212,055 shares, compared to its average volume of 313,445. The stock has a market capitalization of $1.95 billion, a P/E ratio of 425.44, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. The stock has a fifty day moving average of $36.19 and a 200-day moving average of $32.19. The company has a current ratio of 2.41, a quick ratio of 1.53 and a debt-to-equity ratio of 0.97. Barnes Group Inc. has a 52-week low of $18.79 and a 52-week high of $43.65.
Barnes Group (NYSE:B - Get Free Report) last posted its earnings results on Friday, February 16th. The industrial products company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.35 by $0.06. The firm had revenue of $415.50 million for the quarter, compared to analyst estimates of $420.47 million. Barnes Group had a return on equity of 5.92% and a net margin of 0.31%. Barnes Group's revenue for the quarter was up 32.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.52 earnings per share. On average, equities analysts forecast that Barnes Group Inc. will post 1.7 earnings per share for the current year.
Barnes Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 29th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Tuesday, May 28th. Barnes Group's payout ratio is 711.11%.
About Barnes Group
(
Free Report)
Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. The company operates through two segments: Industrial and Aerospace. The Industrial segment offers precision components, products, and systems used by various customers in end-markets, such as mobility, industrial equipment, automation, personal care, packaging, electronics, and medical devices.
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