Teacher Retirement System of Texas lowered its position in Barnes Group Inc. (NYSE:B) by 36.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,273 shares of the industrial products company’s stock after selling 6,346 shares during the period. Teacher Retirement System of Texas’ holdings in Barnes Group were worth $675,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. BlackRock Inc. increased its position in Barnes Group by 1.0% during the 4th quarter. BlackRock Inc. now owns 6,292,106 shares of the industrial products company’s stock valued at $398,101,000 after buying an additional 64,858 shares in the last quarter. Wasatch Advisors Inc. increased its position in Barnes Group by 5.3% during the 1st quarter. Wasatch Advisors Inc. now owns 2,173,091 shares of the industrial products company’s stock valued at $130,146,000 after buying an additional 109,793 shares in the last quarter. Macquarie Group Ltd. increased its position in Barnes Group by 3.5% during the 4th quarter. Macquarie Group Ltd. now owns 1,857,577 shares of the industrial products company’s stock valued at $117,529,000 after buying an additional 62,317 shares in the last quarter. Geode Capital Management LLC increased its position in Barnes Group by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 414,112 shares of the industrial products company’s stock valued at $26,200,000 after buying an additional 11,669 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its position in Barnes Group by 1.7% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 406,220 shares of the industrial products company’s stock valued at $24,329,000 after buying an additional 6,714 shares in the last quarter. 86.66% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have commented on the company. Zacks Investment Research lowered Barnes Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 18th. DA Davidson assumed coverage on Barnes Group in a report on Friday, May 18th. They issued a “neutral” rating and a $63.00 target price for the company. Finally, ValuEngine lowered Barnes Group from a “buy” rating to a “hold” rating in a report on Friday, April 27th. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $66.50.
Barnes Group opened at $59.57 on Friday, Marketbeat Ratings reports. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 2.71 and a beta of 1.34. Barnes Group Inc. has a 12 month low of $52.42 and a 12 month high of $72.87. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.27 and a quick ratio of 1.56.
Barnes Group (NYSE:B) last released its quarterly earnings results on Friday, April 27th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.04. The firm had revenue of $366.70 million for the quarter, compared to the consensus estimate of $362.71 million. Barnes Group had a return on equity of 12.17% and a net margin of 4.12%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the business posted $0.71 EPS. equities research analysts forecast that Barnes Group Inc. will post 3.1 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 8th. Stockholders of record on Friday, May 25th were paid a $0.16 dividend. This is an increase from Barnes Group’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Thursday, May 24th. Barnes Group’s dividend payout ratio (DPR) is 22.22%.
In other news, Director Thomas O. Barnes sold 2,000 shares of the firm’s stock in a transaction on Monday, May 14th. The stock was sold at an average price of $59.14, for a total value of $118,280.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard J. Hipple purchased 500 shares of the company’s stock in a transaction dated Friday, May 4th. The stock was purchased at an average price of $53.55 per share, for a total transaction of $26,775.00. The disclosure for this purchase can be found here. Company insiders own 8.50% of the company’s stock.
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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