TD Asset Management Inc. reduced its stake in shares of Barnes Group Inc. (NYSE:B) by 48.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,300 shares of the industrial products company’s stock after selling 17,100 shares during the quarter. TD Asset Management Inc.’s holdings in Barnes Group were worth $981,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aristotle Capital Boston LLC raised its stake in Barnes Group by 2.9% during the 3rd quarter. Aristotle Capital Boston LLC now owns 271,109 shares of the industrial products company’s stock worth $19,257,000 after acquiring an additional 7,539 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in Barnes Group by 3,841.8% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 458,589 shares of the industrial products company’s stock worth $32,574,000 after acquiring an additional 446,955 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Barnes Group by 269.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 960 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 700 shares in the last quarter. Marshall Wace LLP acquired a new stake in Barnes Group during the 3rd quarter worth $2,296,000. Finally, Bank of New York Mellon Corp raised its stake in Barnes Group by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 674,853 shares of the industrial products company’s stock worth $47,935,000 after acquiring an additional 7,152 shares in the last quarter. 81.30% of the stock is currently owned by institutional investors.
In other news, Director Hassell H. Mcclellan sold 1,400 shares of the business’s stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $58.25, for a total transaction of $81,550.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas O. Barnes sold 770 shares of the business’s stock in a transaction dated Friday, November 30th. The stock was sold at an average price of $59.28, for a total transaction of $45,645.60. The disclosure for this sale can be found here. Insiders own 7.93% of the company’s stock.
Barnes Group (NYSE:B) last posted its quarterly earnings data on Friday, February 22nd. The industrial products company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. The company had revenue of $384.10 million for the quarter, compared to analyst estimates of $391.37 million. Barnes Group had a net margin of 4.60% and a return on equity of 13.39%. Barnes Group’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.71 earnings per share. Equities analysts anticipate that Barnes Group Inc. will post 3.21 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 8th. Stockholders of record on Monday, February 25th will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, February 22nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.05%. Barnes Group’s dividend payout ratio (DPR) is 22.22%.
A number of research firms have commented on B. SunTrust Banks dropped their price objective on shares of Barnes Group from $63.00 to $61.00 and set a “hold” rating on the stock in a research note on Monday, October 29th. Zacks Investment Research lowered shares of Barnes Group from a “hold” rating to a “sell” rating in a research note on Monday, October 29th. DA Davidson set a $66.00 price objective on shares of Barnes Group and gave the company a “hold” rating in a research note on Monday, November 19th. Sidoti upgraded shares of Barnes Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 2nd. Finally, UBS Group lowered shares of Barnes Group from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $72.00 to $65.00 in a research note on Friday, February 15th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $66.17.
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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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