Great West Life Assurance Co. Can Sells 1,708 Shares of Barnes Group Inc. (NYSE:B)

Great West Life Assurance Co. Can lessened its stake in Barnes Group Inc. (NYSE:B) by 2.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,090 shares of the industrial products company’s stock after selling 1,708 shares during the quarter. Great West Life Assurance Co. Can owned 0.12% of Barnes Group worth $3,716,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in B. Piedmont Investment Advisors LLC increased its holdings in Barnes Group by 7.8% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 11,288 shares of the industrial products company’s stock valued at $665,000 after acquiring an additional 820 shares in the last quarter. US Bancorp DE increased its holdings in Barnes Group by 1.4% during the 2nd quarter. US Bancorp DE now owns 58,637 shares of the industrial products company’s stock valued at $3,453,000 after acquiring an additional 823 shares in the last quarter. Legal & General Group Plc increased its holdings in Barnes Group by 1.1% during the 1st quarter. Legal & General Group Plc now owns 100,963 shares of the industrial products company’s stock valued at $6,012,000 after acquiring an additional 1,095 shares in the last quarter. Cortina Asset Management LLC increased its holdings in Barnes Group by 1.1% during the 1st quarter. Cortina Asset Management LLC now owns 107,051 shares of the industrial products company’s stock valued at $6,411,000 after acquiring an additional 1,175 shares in the last quarter. Finally, Pitcairn Co. increased its holdings in Barnes Group by 42.1% during the 1st quarter. Pitcairn Co. now owns 4,979 shares of the industrial products company’s stock valued at $299,000 after acquiring an additional 1,474 shares in the last quarter. Institutional investors and hedge funds own 84.94% of the company’s stock.

Shares of Barnes Group stock traded down $1.21 during mid-day trading on Friday, hitting $67.59. 282,547 shares of the stock were exchanged, compared to its average volume of 220,146. Barnes Group Inc. has a twelve month low of $52.42 and a twelve month high of $72.87. The stock has a market capitalization of $3.64 billion, a P/E ratio of 23.47, a P/E/G ratio of 3.11 and a beta of 1.31. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.25 and a quick ratio of 1.55.

Barnes Group (NYSE:B) last released its quarterly earnings results on Friday, July 27th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.15. Barnes Group had a net margin of 4.39% and a return on equity of 12.69%. The company had revenue of $375.32 million for the quarter, compared to analysts’ expectations of $383.00 million. During the same period last year, the company earned $0.81 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, analysts forecast that Barnes Group Inc. will post 3.26 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, September 10th. Investors of record on Tuesday, August 28th were given a $0.16 dividend. The ex-dividend date of this dividend was Monday, August 27th. This represents a $0.64 annualized dividend and a dividend yield of 0.95%. Barnes Group’s dividend payout ratio is presently 22.22%.

Several research firms have weighed in on B. Oppenheimer raised their target price on shares of Barnes Group from $75.00 to $82.00 and gave the company an “outperform” rating in a report on Tuesday, September 25th. SunTrust Banks restated a “hold” rating and set a $63.00 target price on shares of Barnes Group in a report on Friday, July 27th. ValuEngine upgraded shares of Barnes Group from a “hold” rating to a “buy” rating in a report on Saturday, July 28th. Robert W. Baird raised their target price on shares of Barnes Group from $58.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, July 27th. Finally, Zacks Investment Research raised shares of Barnes Group from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research note on Tuesday, July 31st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $72.33.

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, consumer products, packaging, electronics, medical devices, and energy.

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Institutional Ownership by Quarter for Barnes Group (NYSE:B)

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