Morgan Stanley Lowers Position in Barnes Group, Inc. (B)

Morgan Stanley reduced its stake in shares of Barnes Group, Inc. (NYSE:B) by 47.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,553 shares of the industrial products company’s stock after selling 81,407 shares during the period. Morgan Stanley’s holdings in Barnes Group were worth $4,547,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Teacher Retirement System of Texas purchased a new stake in shares of Barnes Group during the first quarter valued at approximately $209,000. Verity Asset Management Inc. purchased a new stake in shares of Barnes Group during the first quarter valued at approximately $215,000. Dubuque Bank & Trust Co. purchased a new stake in shares of Barnes Group during the first quarter valued at approximately $216,000. Essex Financial Services Inc. purchased a new stake in shares of Barnes Group during the first quarter valued at approximately $281,000. Finally, State of Alaska Department of Revenue increased its stake in shares of Barnes Group by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 5,550 shares of the industrial products company’s stock valued at $284,000 after buying an additional 130 shares in the last quarter. Institutional investors own 85.50% of the company’s stock.

Barnes Group, Inc. (NYSE B) traded down 0.57% during trading on Friday, reaching $58.87. The company’s stock had a trading volume of 133,095 shares. The company has a 50-day moving average of $59.66 and a 200 day moving average of $54.15. The firm has a market cap of $3.17 billion, a PE ratio of 20.58 and a beta of 1.43. Barnes Group, Inc. has a one year low of $37.88 and a one year high of $62.37.

Barnes Group (NYSE:B) last announced its earnings results on Friday, July 28th. The industrial products company reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.12. Barnes Group had a net margin of 11.69% and a return on equity of 13.02%. The business had revenue of $364.49 million during the quarter, compared to the consensus estimate of $337.69 million. During the same quarter last year, the firm earned $0.63 earnings per share. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. Analysts expect that Barnes Group, Inc. will post $2.89 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 24th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Tuesday, August 22nd. Barnes Group’s dividend payout ratio is 19.58%.

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Several analysts have recently commented on the company. Zacks Investment Research upgraded Barnes Group from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research note on Monday, May 22nd. Jefferies Group LLC restated a “buy” rating and issued a $63.00 target price on shares of Barnes Group in a research note on Tuesday, May 2nd. BidaskClub downgraded Barnes Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. ValuEngine upgraded Barnes Group from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Sidoti downgraded Barnes Group from a “buy” rating to a “neutral” rating in a research note on Monday, April 24th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $58.20.

In other Barnes Group news, VP Marian Acker sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $60.38, for a total transaction of $362,280.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Hassell H. Mcclellan sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $56.00, for a total transaction of $112,000.00. The disclosure for this sale can be found here. Insiders have sold 9,000 shares of company stock valued at $530,340 in the last ninety days. Insiders own 8.50% of the company’s stock.

Barnes Group Company Profile

Barnes Group Inc is an industrial and aerospace manufacturer and service provider, serving a range of end markets and customers. The Company’s engineered products, industrial technologies, and solutions are used in applications that provide transportation, manufacturing, healthcare products and technology to the world.

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Institutional Ownership by Quarter for Barnes Group (NYSE:B)

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