Barnes Group Inc. (NYSE:B) saw a large drop in short interest in August. As of August 31st, there was short interest totalling 555,500 shares, a drop of 23.4% from the July 31st total of 725,000 shares. Based on an average daily trading volume, of 191,600 shares, the days-to-cover ratio is currently 2.9 days. Approximately 1.2% of the shares of the company are short sold.

In other Barnes Group news, VP Marian Acker sold 2,274 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $45.43, for a total transaction of $103,307.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mylle H. Mangum sold 1,000 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $51.89, for a total value of $51,890.00. The disclosure for this sale can be found here. Insiders sold a total of 3,739 shares of company stock valued at $175,263 over the last quarter. 8.35% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of Barnes Group by 1.7% during the 2nd quarter. BlackRock Inc. now owns 7,047,330 shares of the industrial products company’s stock worth $397,045,000 after acquiring an additional 114,410 shares in the last quarter. Champlain Investment Partners LLC raised its holdings in shares of Barnes Group by 50.4% during the 1st quarter. Champlain Investment Partners LLC now owns 1,276,260 shares of the industrial products company’s stock worth $65,613,000 after acquiring an additional 427,895 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Barnes Group by 1.3% during the 2nd quarter. Northern Trust Corp now owns 923,394 shares of the industrial products company’s stock worth $52,024,000 after acquiring an additional 11,999 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Barnes Group by 0.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 665,301 shares of the industrial products company’s stock worth $37,483,000 after acquiring an additional 6,030 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Barnes Group by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 508,810 shares of the industrial products company’s stock worth $27,282,000 after acquiring an additional 36,657 shares in the last quarter. 85.86% of the stock is currently owned by institutional investors.

A number of equities research analysts have issued reports on B shares. Alembic Global Advisors started coverage on Barnes Group in a research note on Friday, May 17th. They set an “overweight” rating and a $67.00 price target for the company. SunTrust Banks downgraded Barnes Group from a “hold” rating to a “sell” rating and cut their price target for the company from $53.00 to $48.00 in a research note on Friday, June 14th. Zacks Investment Research downgraded Barnes Group from a “hold” rating to a “sell” rating and set a $55.00 price target for the company. in a research note on Thursday, August 1st. UBS Group cut their price target on Barnes Group from $60.00 to $56.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. Finally, ValuEngine downgraded Barnes Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $60.67.

Shares of B stock traded up $2.37 during trading hours on Friday, reaching $55.14. 6,669 shares of the company traded hands, compared to its average volume of 207,039. Barnes Group has a 12-month low of $42.39 and a 12-month high of $72.70. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.13 and a quick ratio of 1.43. The company has a market cap of $2.56 billion, a P/E ratio of 17.09, a P/E/G ratio of 2.30 and a beta of 1.46. The firm has a 50-day moving average price of $46.75 and a 200 day moving average price of $52.67.

Barnes Group (NYSE:B) last posted its quarterly earnings data on Friday, July 26th. The industrial products company reported $0.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.03). Barnes Group had a net margin of 9.95% and a return on equity of 13.20%. The company had revenue of $371.70 million for the quarter, compared to analysts’ expectations of $387.29 million. During the same period in the previous year, the firm earned $0.90 earnings per share. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. Sell-side analysts predict that Barnes Group will post 3.14 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.64 dividend on an annualized basis and a yield of 1.16%. Barnes Group’s dividend payout ratio is presently 19.88%.

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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