According to Zacks, “Barnes Group Inc. is a global industrial and aerospace manufacturer and service provider, serving a wide range of end markets and customers. “
A number of other equities analysts have also recently commented on the company. DA Davidson lowered their price target on Barnes Group to $56.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. SunTrust Banks reissued a “hold” rating and set a $57.00 price target on shares of Barnes Group in a report on Friday, February 22nd. Finally, UBS Group cut Barnes Group from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $72.00 to $65.00 in a report on Friday, February 15th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $64.50.
Barnes Group (NYSE:B) last announced its quarterly earnings data on Friday, April 26th. The industrial products company reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.02. Barnes Group had a return on equity of 14.01% and a net margin of 10.72%. The firm had revenue of $376.69 million during the quarter, compared to analysts’ expectations of $374.04 million. During the same period in the previous year, the firm earned $0.72 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts forecast that Barnes Group will post 3.23 EPS for the current fiscal year.
In related news, SVP Dawn N. Edwards sold 1,750 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $55.44, for a total transaction of $97,020.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard J. Hipple acquired 1,000 shares of Barnes Group stock in a transaction that occurred on Wednesday, February 27th. The shares were purchased at an average price of $58.83 per share, for a total transaction of $58,830.00. The disclosure for this purchase can be found here. Insiders own 8.35% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Barnes Group in the 4th quarter valued at about $30,187,000. Champlain Investment Partners LLC grew its position in shares of Barnes Group by 50.4% in the 1st quarter. Champlain Investment Partners LLC now owns 1,276,260 shares of the industrial products company’s stock valued at $65,613,000 after buying an additional 427,895 shares during the last quarter. Millennium Management LLC grew its position in shares of Barnes Group by 206.1% in the 4th quarter. Millennium Management LLC now owns 219,745 shares of the industrial products company’s stock valued at $11,783,000 after buying an additional 147,950 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its position in shares of Barnes Group by 29.9% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 451,709 shares of the industrial products company’s stock valued at $23,217,000 after buying an additional 104,075 shares during the last quarter. Finally, Man Group plc grew its position in shares of Barnes Group by 146.9% in the 1st quarter. Man Group plc now owns 170,999 shares of the industrial products company’s stock valued at $8,791,000 after buying an additional 101,749 shares during the last quarter. Institutional investors and hedge funds own 85.60% of the company’s stock.
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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