Barnes Group, Inc. (NYSE:B) – Stock analysts at Oppenheimer Holdings upped their FY2017 EPS estimates for Barnes Group in a report released on Friday. Oppenheimer Holdings analyst C. Glynn now anticipates that the industrial products company will earn $2.86 per share for the year, up from their previous estimate of $2.85. Oppenheimer Holdings currently has a “Outperform” rating and a $67.00 target price on the stock. Oppenheimer Holdings also issued estimates for Barnes Group’s Q4 2017 earnings at $0.68 EPS, Q1 2018 earnings at $0.67 EPS, Q2 2018 earnings at $0.79 EPS, Q3 2018 earnings at $0.78 EPS and Q4 2018 earnings at $0.81 EPS.
Barnes Group (NYSE:B) last posted its quarterly earnings results on Friday, October 27th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.03). Barnes Group had a return on equity of 12.44% and a net margin of 11.20%. The business had revenue of $357.16 million for the quarter, compared to analysts’ expectations of $351.01 million. During the same period in the prior year, the business posted $0.71 earnings per share. The business’s quarterly revenue was up 14.6% compared to the same quarter last year.
A number of other research analysts have also recently issued reports on B. Robert W. Baird reissued a “hold” rating and issued a $65.00 target price on shares of Barnes Group in a research note on Sunday. ValuEngine lowered Barnes Group from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. BidaskClub upgraded Barnes Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Deutsche Bank AG upped their target price on Barnes Group from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, September 8th. Finally, SunTrust Banks, Inc. reiterated a “hold” rating and set a $60.00 target price on shares of Barnes Group in a report on Thursday, October 12th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $65.60.
Barnes Group (NYSE:B) traded down 1.15% during trading on Monday, reaching $64.34. 34,814 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $69.53 and a 200-day moving average of $61.10. Barnes Group has a 52 week low of $37.95 and a 52 week high of $72.87. The stock has a market capitalization of $3.46 billion, a PE ratio of 22.50 and a beta of 1.45.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 22nd will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Tuesday, November 21st. Barnes Group’s payout ratio is 19.72%.
In related news, Director Thomas O. Barnes sold 2,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $59.93, for a total transaction of $119,860.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.50% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of B. Chicago Equity Partners LLC acquired a new position in Barnes Group during the 3rd quarter valued at about $1,386,000. Foundry Partners LLC lifted its position in shares of Barnes Group by 2.8% during the 3rd quarter. Foundry Partners LLC now owns 270,534 shares of the industrial products company’s stock worth $19,056,000 after buying an additional 7,403 shares in the last quarter. Palisade Capital Management LLC NJ lifted its position in shares of Barnes Group by 1.9% during the 3rd quarter. Palisade Capital Management LLC NJ now owns 397,866 shares of the industrial products company’s stock worth $28,026,000 after buying an additional 7,367 shares in the last quarter. YorkBridge Wealth Partners LLC lifted its position in shares of Barnes Group by 4,461.8% during the 3rd quarter. YorkBridge Wealth Partners LLC now owns 1,551 shares of the industrial products company’s stock worth $109,000 after buying an additional 1,517 shares in the last quarter. Finally, Parametrica Management Ltd bought a new position in shares of Barnes Group during the 3rd quarter worth approximately $390,000. Hedge funds and other institutional investors own 87.57% of the company’s stock.
About Barnes Group
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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