Adams Diversified Equity Fund Inc. Takes Position in Barnes Group, Inc. (NYSE:B)

Adams Diversified Equity Fund Inc. bought a new position in shares of Barnes Group, Inc. (NYSE:B) during the second quarter, according to its most recent disclosure with the SEC. The fund bought 19,500 shares of the industrial products company’s stock, valued at approximately $1,141,000.

A number of other large investors also recently bought and sold shares of the stock. Nationwide Fund Advisors raised its stake in Barnes Group by 6.1% in the first quarter. Nationwide Fund Advisors now owns 297,187 shares of the industrial products company’s stock worth $15,258,000 after buying an additional 17,162 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Barnes Group by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 5,550 shares of the industrial products company’s stock worth $284,000 after buying an additional 130 shares during the last quarter. Palisade Capital Management LLC NJ raised its position in shares of Barnes Group by 1.0% in the first quarter. Palisade Capital Management LLC NJ now owns 381,046 shares of the industrial products company’s stock worth $19,563,000 after buying an additional 3,719 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Barnes Group by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 20,400 shares of the industrial products company’s stock worth $1,047,000 after buying an additional 300 shares in the last quarter. Finally, First National Bank of Omaha raised its position in shares of Barnes Group by 31.1% in the first quarter. First National Bank of Omaha now owns 25,903 shares of the industrial products company’s stock worth $1,330,000 after buying an additional 6,140 shares in the last quarter. 85.50% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Barnes Group, Inc. (B) traded down 0.90% on Friday, hitting $58.68. The company had a trading volume of 422,183 shares. Barnes Group, Inc. has a 12-month low of $37.88 and a 12-month high of $62.37. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 20.52 and a beta of 1.43. The company has a 50 day moving average of $59.69 and a 200-day moving average of $54.25.

Barnes Group (NYSE:B) last issued its earnings results on Friday, July 28th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $364.49 million during the quarter, compared to analyst estimates of $337.69 million. Barnes Group had a net margin of 11.69% and a return on equity of 13.02%. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. On average, analysts forecast that Barnes Group, Inc. will post $2.89 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 24th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Tuesday, August 22nd. Barnes Group’s dividend payout ratio (DPR) is currently 19.58%.

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A number of research analysts have weighed in on the company. Oppenheimer Holdings, Inc. increased their price target on Barnes Group from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Monday, July 31st. BidaskClub lowered Barnes Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Jefferies Group LLC reissued a “buy” rating and set a $66.00 price target on shares of Barnes Group in a research note on Thursday, June 8th. ValuEngine raised Barnes Group from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research raised Barnes Group from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Monday, May 22nd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Barnes Group presently has an average rating of “Buy” and a consensus price target of $58.20.

In other Barnes Group news, Director Hassell H. Mcclellan sold 2,000 shares of Barnes Group stock in a transaction on Friday, May 26th. The shares were sold at an average price of $56.00, for a total transaction of $112,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas O. Barnes sold 1,000 shares of Barnes Group stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $56.06, for a total transaction of $56,060.00. The disclosure for this sale can be found here. Insiders have sold a total of 9,000 shares of company stock valued at $530,340 in the last three months. Company insiders own 8.50% of the company’s stock.

About Barnes Group

Barnes Group Inc is an industrial and aerospace manufacturer and service provider, serving a range of end markets and customers. The Company’s engineered products, industrial technologies, and solutions are used in applications that provide transportation, manufacturing, healthcare products and technology to the world.

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

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