Public Employees Retirement System of Ohio increased its stake in shares of Barnes Group Inc. (NYSE:B) by 3.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 69,501 shares of the industrial products company’s stock after purchasing an additional 2,381 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.14% of Barnes Group worth $3,582,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Doyle Wealth Management acquired a new position in Barnes Group in the second quarter worth approximately $28,000. Parallel Advisors LLC boosted its holdings in Barnes Group by 226.2% in the third quarter. Parallel Advisors LLC now owns 672 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 466 shares in the last quarter. First Mercantile Trust Co. acquired a new position in Barnes Group during the third quarter worth $51,000. LS Investment Advisors LLC increased its position in Barnes Group by 41.0% during the third quarter. LS Investment Advisors LLC now owns 1,990 shares of the industrial products company’s stock worth $103,000 after buying an additional 579 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Barnes Group by 15.3% during the third quarter. Nisa Investment Advisors LLC now owns 2,260 shares of the industrial products company’s stock worth $116,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 86.72% of the company’s stock.
B stock opened at $59.95 on Friday. Barnes Group Inc. has a 1-year low of $42.39 and a 1-year high of $62.19. The firm has a market cap of $3.01 billion, a P/E ratio of 18.62, a P/E/G ratio of 1.86 and a beta of 1.43. The business’s 50 day moving average is $58.46 and its 200-day moving average is $53.06. The company has a current ratio of 2.23, a quick ratio of 1.49 and a debt-to-equity ratio of 0.71.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a $0.16 dividend. The ex-dividend date is Monday, November 25th. This represents a $0.64 annualized dividend and a dividend yield of 1.07%. Barnes Group’s dividend payout ratio is presently 19.88%.
In other news, VP Marian Acker sold 5,018 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $53.88, for a total value of $270,369.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Christopher J. Stephens sold 21,265 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $58.32, for a total value of $1,240,174.80. The disclosure for this sale can be found here. Insiders sold a total of 114,256 shares of company stock worth $6,863,018 in the last 90 days. 8.35% of the stock is owned by corporate insiders.
Several analysts recently issued reports on the stock. SunTrust Banks reaffirmed a “sell” rating and set a $49.00 price objective on shares of Barnes Group in a report on Monday, October 28th. Oppenheimer set a $65.00 price target on shares of Barnes Group and gave the company a “buy” rating in a report on Friday, October 25th. Finally, ValuEngine raised Barnes Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $58.00.
Barnes Group Company Profile
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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