Mason Street Advisors LLC acquired a new stake in shares of Barnes Group Inc. (NYSE:B) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 9,866 shares of the company’s stock, valued at approximately $327,000.
A number of other hedge funds have also added to or reduced their stakes in B. Mesirow Financial Investment Management Equity Management bought a new position in Barnes Group during the second quarter worth approximately $21,825,000. Foundry Partners LLC bought a new position in Barnes Group during the second quarter worth approximately $11,854,000. Dimensional Fund Advisors LP raised its position in Barnes Group by 7.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,345,611 shares of the company’s stock worth $110,804,000 after buying an additional 244,204 shares during the period. Vanguard Group Inc. raised its position in Barnes Group by 5.7% in the second quarter. Vanguard Group Inc. now owns 3,966,594 shares of the company’s stock worth $131,374,000 after buying an additional 212,741 shares during the period. Finally, Henderson Group PLC raised its position in Barnes Group by 57.6% in the second quarter. Henderson Group PLC now owns 581,073 shares of the company’s stock worth $19,245,000 after buying an additional 212,385 shares during the period. Hedge funds and other institutional investors own 83.55% of the company’s stock.
Shares of Barnes Group Inc. (NYSE:B) opened at 39.18 on Friday. The firm has a market cap of $2.11 billion, a P/E ratio of 17.90 and a beta of 1.47. The firm has a 50 day moving average price of $40.30 and a 200-day moving average price of $36.47. Barnes Group Inc. has a one year low of $30.07 and a one year high of $41.86.
Barnes Group (NYSE:B) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. Barnes Group had a return on equity of 11.69% and a net margin of 10.18%. The business had revenue of $307 million for the quarter, compared to the consensus estimate of $308.71 million. During the same quarter in the prior year, the business earned $0.62 earnings per share. Barnes Group’s revenue for the quarter was down 2.6% on a year-over-year basis. Analysts forecast that Barnes Group Inc. will post $2.51 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Thursday, August 25th were paid a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, August 23rd. This represents a $0.52 annualized dividend and a yield of 1.33%. Barnes Group’s payout ratio is 23.74%.
A number of equities analysts have commented on B shares. Zacks Investment Research upgraded Barnes Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th. Jefferies Group raised their price objective on Barnes Group from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, August 1st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $40.17.
In related news, SVP Christopher J. Stephens sold 23,039 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $38.76, for a total value of $892,991.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Dawn N. Edwards sold 5,700 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $40.24, for a total value of $229,368.00. The disclosure for this sale can be found here. 7.80% of the stock is owned by corporate insiders.
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.