Barnes Group Inc. (NYSE:B) Short Interest Update

Barnes Group Inc. (NYSE:B) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 599,100 shares, a growth of 8.6% from the September 30th total of 551,600 shares. Approximately 1.3% of the shares of the stock are short sold. Based on an average daily volume of 253,800 shares, the short-interest ratio is currently 2.4 days.

Shares of NYSE B traded down $0.03 during trading hours on Friday, reaching $59.81. 303,070 shares of the stock traded hands, compared to its average volume of 266,821. The company has a market capitalization of $3.03 billion, a P/E ratio of 18.76, a price-to-earnings-growth ratio of 1.88 and a beta of 1.43. The company has a quick ratio of 1.49, a current ratio of 2.23 and a debt-to-equity ratio of 0.71. Barnes Group has a 52-week low of $42.39 and a 52-week high of $62.19. The company’s 50-day simple moving average is $54.85 and its two-hundred day simple moving average is $52.71.

Barnes Group (NYSE:B) last announced its quarterly earnings data on Friday, October 25th. The industrial products company reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.11. The company had revenue of $372.60 million for the quarter, compared to analysts’ expectations of $377.42 million. Barnes Group had a return on equity of 13.61% and a net margin of 10.38%. Barnes Group’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm posted $0.78 EPS. As a group, sell-side analysts forecast that Barnes Group will post 3.18 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.16 per share. The ex-dividend date is Monday, November 25th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.07%. Barnes Group’s dividend payout ratio is 19.88%.

Several analysts have weighed in on B shares. ValuEngine raised Barnes Group from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Zacks Investment Research cut Barnes Group from a “hold” rating to a “sell” rating and set a $55.00 price target on the stock. in a report on Thursday, August 1st. Oppenheimer set a $65.00 price target on Barnes Group and gave the company a “buy” rating in a report on Friday, October 25th. SunTrust Banks reaffirmed a “sell” rating and issued a $49.00 price target on shares of Barnes Group in a report on Monday, October 28th. Finally, UBS Group raised their price target on Barnes Group from $56.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $58.67.

In other Barnes Group news, Director Hassell H. Mcclellan sold 1,500 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $60.15, for a total value of $90,225.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Patrick Dempsey sold 23,390 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $60.29, for a total value of $1,410,183.10. The disclosure for this sale can be found here. Insiders have sold a total of 114,581 shares of company stock worth $6,874,610 in the last three months. 8.35% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in B. BBVA USA Bancshares Inc. grew its position in Barnes Group by 59.2% during the 3rd quarter. BBVA USA Bancshares Inc. now owns 18,546 shares of the industrial products company’s stock worth $956,000 after acquiring an additional 6,899 shares during the last quarter. Mason Street Advisors LLC grew its position in Barnes Group by 2.4% during the 3rd quarter. Mason Street Advisors LLC now owns 16,157 shares of the industrial products company’s stock worth $833,000 after acquiring an additional 377 shares during the last quarter. Mondrian Investment Partners LTD grew its position in Barnes Group by 48.0% during the 3rd quarter. Mondrian Investment Partners LTD now owns 99,127 shares of the industrial products company’s stock worth $5,109,000 after acquiring an additional 32,132 shares during the last quarter. First National Bank of Omaha grew its position in Barnes Group by 5.3% during the 3rd quarter. First National Bank of Omaha now owns 28,380 shares of the industrial products company’s stock worth $1,463,000 after acquiring an additional 1,430 shares during the last quarter. Finally, M Holdings Securities Inc. bought a new position in Barnes Group during the 3rd quarter worth approximately $1,050,000. 85.83% of the stock is currently owned by institutional investors.

About Barnes Group

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, automation, personal care, packaging, electronics, and medical devices.

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