Invictus RG boosted its holdings in shares of Barnes Group, Inc. (NYSE:B) by 90.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,963 shares of the industrial products company’s stock after purchasing an additional 5,667 shares during the quarter. Barnes Group comprises about 0.8% of Invictus RG’s investment portfolio, making the stock its 6th largest position. Invictus RG’s holdings in Barnes Group were worth $843,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the stock. Pacad Investment Ltd. raised its stake in shares of Barnes Group by 5.9% in the second quarter. Pacad Investment Ltd. now owns 1,800 shares of the industrial products company’s stock valued at $105,000 after acquiring an additional 100 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in shares of Barnes Group in the second quarter valued at $109,000. YorkBridge Wealth Partners LLC raised its stake in shares of Barnes Group by 4,461.8% in the third quarter. YorkBridge Wealth Partners LLC now owns 1,551 shares of the industrial products company’s stock valued at $109,000 after acquiring an additional 1,517 shares during the period. LS Investment Advisors LLC raised its stake in shares of Barnes Group by 4.6% in the second quarter. LS Investment Advisors LLC now owns 1,942 shares of the industrial products company’s stock valued at $114,000 after acquiring an additional 85 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Barnes Group by 9.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,092 shares of the industrial products company’s stock valued at $122,000 after acquiring an additional 188 shares during the period. 86.16% of the stock is currently owned by institutional investors.
In other news, Director Thomas O. Barnes sold 1,500 shares of Barnes Group stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $66.36, for a total transaction of $99,540.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Christopher J. Stephens sold 15,700 shares of Barnes Group stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $63.53, for a total transaction of $997,421.00. The disclosure for this sale can be found here. 8.50% of the stock is owned by company insiders.
Barnes Group (NYSE:B) last released its quarterly earnings results on Friday, October 27th. The industrial products company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.03). The firm had revenue of $357.16 million during the quarter, compared to the consensus estimate of $351.01 million. Barnes Group had a net margin of 11.20% and a return on equity of 12.44%. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.71 earnings per share. sell-side analysts predict that Barnes Group, Inc. will post 2.85 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors 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 yield of 0.86%. The ex-dividend date is Tuesday, November 21st. Barnes Group’s dividend payout ratio (DPR) is presently 19.72%.
Several research analysts recently commented on the stock. ValuEngine downgraded shares of Barnes Group from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. SunTrust Banks reaffirmed a “hold” rating and issued a $60.00 price target on shares of Barnes Group in a research note on Thursday, October 12th. Robert W. Baird reaffirmed a “hold” rating and issued a $65.00 price target on shares of Barnes Group in a research note on Sunday, October 29th. Zacks Investment Research cut shares of Barnes Group from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Finally, Deutsche Bank increased their target price on shares of Barnes Group from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, September 8th. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $65.60.
COPYRIGHT VIOLATION WARNING: This story was reported by Community Financial News and is the sole property of of Community Financial News. If you are accessing this story on another site, it was stolen and reposted in violation of US & international copyright legislation. The original version of this story can be read at https://www.com-unik.info/2017/12/04/invictus-rg-grows-position-in-barnes-group-inc-b.html.
Barnes Group 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.
Want to see what other hedge funds are holding B? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Barnes Group, Inc. (NYSE:B).
What are top analysts saying about Barnes Group Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Barnes Group Inc. and related companies.