Credit Suisse AG cut its holdings in Barnes Group Inc. (NYSE:B) by 25.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,311 shares of the industrial products company’s stock after selling 13,412 shares during the quarter. Credit Suisse AG’s holdings in Barnes Group were worth $2,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. FMR LLC lifted its holdings in Barnes Group by 54.0% in the fourth quarter. FMR LLC now owns 251,936 shares of the industrial products company’s stock worth $15,610,000 after buying an additional 88,377 shares during the period. Franklin Resources Inc. lifted its holdings in Barnes Group by 21.3% in the fourth quarter. Franklin Resources Inc. now owns 431,300 shares of the industrial products company’s stock worth $26,723,000 after buying an additional 75,700 shares during the period. Amundi Pioneer Asset Management Inc. purchased a new stake in Barnes Group in the first quarter worth about $3,425,000. Great West Life Assurance Co. Can purchased a new stake in Barnes Group in the fourth quarter worth about $3,661,000. Finally, New York State Common Retirement Fund lifted its holdings in Barnes Group by 21.8% in the fourth quarter. New York State Common Retirement Fund now owns 232,640 shares of the industrial products company’s stock worth $14,414,000 after buying an additional 41,675 shares during the period. 89.08% of the stock is currently owned by institutional investors.
Several brokerages have commented on B. Sidoti lowered their price objective on shares of Barnes Group from $78.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, March 19th. Morgan Stanley lowered their price objective on shares of Barnes Group from $57.00 to $52.00 and set an “underweight” rating for the company in a report on Monday, March 16th. MKM Partners lowered their price objective on shares of Barnes Group from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Friday, March 6th. Citigroup raised their price objective on shares of Barnes Group from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. Finally, Imperial Capital raised their price objective on shares of Barnes Group from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $56.82.
B stock opened at $37.39 on Thursday. The firm has a 50 day moving average price of $53.40 and a 200-day moving average price of $57.30. Barnes Group Inc. has a 52-week low of $30.22 and a 52-week high of $68.60. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.24 and a beta of 1.39. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.55 and a current ratio of 2.23.
Barnes Group (NYSE:B) last released its earnings results on Friday, February 21st. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.02. Barnes Group had a net margin of 10.62% and a return on equity of 13.47%. The firm had revenue of $370.20 million during the quarter, compared to analyst estimates of $375.93 million. During the same period last year, the business earned $0.84 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts forecast that Barnes Group Inc. will post 3.16 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.16 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.64 annualized dividend and a dividend yield of 1.71%. Barnes Group’s payout ratio is 19.94%.
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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