Shares of Barnes Group Inc. (NYSE:B) traded up 6% during mid-day trading on Wednesday . The company traded as high as $36.27 and last traded at $36.05. 474,750 shares traded hands during trading, an increase of 93% from the average session volume of 246,291 shares. The stock had previously closed at $34.02.
B has been the subject of several recent research reports. Zacks Investment Research cut shares of Barnes Group from a “hold” rating to a “strong sell” rating and set a $40.00 price target for the company. in a research report on Thursday, July 30th. Bank of America upped their price target on shares of Barnes Group from $52.00 to $62.00 and gave the company an “underperform” rating in a research report on Thursday, August 27th. Deutsche Bank upped their price target on shares of Barnes Group from $61.00 to $64.00 and gave the company a “hold” rating in a research report on Wednesday, June 10th. Alembic Global Advisors upgraded shares of Barnes Group from a “neutral” rating to an “overweight” rating and set a $57.00 price target for the company in a research report on Tuesday, June 9th. Finally, UBS Group decreased their price target on shares of Barnes Group from $64.00 to $56.00 and set a “sell” rating for the company in a research report on Wednesday, May 27th. Six analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $49.40.
The company has a debt-to-equity ratio of 0.57, a current ratio of 1.99 and a quick ratio of 1.21. The firm’s 50 day moving average is $38.32 and its 200 day moving average is $39.39. The company has a market capitalization of $1.82 billion, a PE ratio of 15.81, a P/E/G ratio of 2.12 and a beta of 1.14.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Thursday, August 27th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.78%. The ex-dividend date was Wednesday, August 26th. Barnes Group’s dividend payout ratio is currently 19.94%.
In other news, SVP Dawn N. Edwards sold 1,700 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $39.27, for a total value of $66,759.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher J. Stephens sold 36,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $39.28, for a total value of $1,414,080.00. The disclosure for this sale can be found here. 8.37% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. US Bancorp DE increased its position in Barnes Group by 10.0% during the 1st quarter. US Bancorp DE now owns 26,495 shares of the industrial products company’s stock worth $1,108,000 after purchasing an additional 2,417 shares in the last quarter. Strs Ohio grew its stake in Barnes Group by 25.7% in the second quarter. Strs Ohio now owns 4,400 shares of the industrial products company’s stock valued at $174,000 after purchasing an additional 900 shares during the last quarter. Invesco Ltd. boosted its holdings in Barnes Group by 27.8% in the first quarter. Invesco Ltd. now owns 110,077 shares of the industrial products company’s stock worth $4,604,000 after acquiring an additional 23,971 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Barnes Group by 8.2% in the first quarter. BNP Paribas Arbitrage SA now owns 39,857 shares of the industrial products company’s stock worth $1,667,000 after acquiring an additional 3,005 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its holdings in Barnes Group by 31.6% in the first quarter. Baird Financial Group Inc. now owns 7,773 shares of the industrial products company’s stock worth $325,000 after acquiring an additional 1,865 shares in the last quarter. Hedge funds and other institutional investors own 86.42% of the company’s stock.
About Barnes Group (NYSE:B)
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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