Barnes Group, Inc. (NYSE:B) had its price objective raised by Oppenheimer Holdings, Inc. from $58.00 to $67.00 in a research report released on Monday, July 31st. The brokerage currently has an outperform rating on the industrial products company’s stock. Oppenheimer Holdings also issued estimates for Barnes Group’s Q3 2017 earnings at $0.67 EPS, Q4 2017 earnings at $0.66 EPS and FY2017 earnings at $2.85 EPS.
A number of other equities analysts have also weighed in on the company. Sidoti lowered Barnes Group from a buy rating to a neutral rating in a research note on Monday, April 24th. Zacks Investment Research upgraded Barnes Group from a hold rating to a buy rating and set a $61.00 target price on the stock in a research report on Monday, May 22nd. ValuEngine upgraded Barnes Group from a hold rating to a buy rating in a research report on Friday, June 2nd. Jefferies Group LLC restated a buy rating and issued a $63.00 target price on shares of Barnes Group in a research report on Tuesday, May 2nd. Finally, BidaskClub downgraded Barnes Group from a strong-buy rating to a buy rating in a research report on Thursday, July 27th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Barnes Group presently has a consensus rating of Buy and a consensus target price of $58.20.
Shares of Barnes Group (NYSE B) opened at 59.97 on Monday. Barnes Group has a one year low of $37.88 and a one year high of $62.37. The stock’s 50 day moving average price is $59.90 and its 200 day moving average price is $54.66. The stock has a market capitalization of $3.23 billion, a PE ratio of 20.97 and a beta of 1.43.
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The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 24th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $0.56 annualized dividend and a yield of 0.93%. Barnes Group’s payout ratio is 19.58%.
In related news, VP Marian Acker sold 6,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $60.38, for a total value of $362,280.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hassell H. Mcclellan sold 2,000 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $56.00, for a total value of $112,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,000 shares of company stock valued at $650,200. Insiders own 8.50% of the company’s stock.
A number of hedge funds have recently bought and sold shares of B. BlackRock Inc. increased its position in shares of Barnes Group by 1.3% in the second quarter. BlackRock Inc. now owns 6,147,376 shares of the industrial products company’s stock worth $359,804,000 after buying an additional 77,829 shares during the period. Bank of America Corp DE increased its position in shares of Barnes Group by 0.4% in the first quarter. Bank of America Corp DE now owns 5,487,280 shares of the industrial products company’s stock worth $281,717,000 after buying an additional 23,017 shares during the period. Vanguard Group Inc. increased its position in shares of Barnes Group by 1.2% in the second quarter. Vanguard Group Inc. now owns 4,588,211 shares of the industrial products company’s stock worth $268,548,000 after buying an additional 55,741 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Barnes Group by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,526,503 shares of the industrial products company’s stock worth $181,050,000 after buying an additional 19,233 shares during the period. Finally, Northern Trust Corp increased its position in shares of Barnes Group by 6.3% in the second quarter. Northern Trust Corp now owns 1,664,281 shares of the industrial products company’s stock worth $97,410,000 after buying an additional 98,189 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.
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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