Shares of Barnes Group Inc. (NYSE:B – Get Free Report) traded up 5% during trading on Wednesday . The stock traded as high as $42.53 and last traded at $40.85. 679,589 shares changed hands during mid-day trading, an increase of 120% from the average session volume of 309,018 shares. The stock had previously closed at $38.90.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the stock. DA Davidson lifted their price target on shares of Barnes Group from $45.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Oppenheimer boosted their target price on shares of Barnes Group from $43.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, June 14th.
Barnes Group Stock Performance
The company has a market cap of $2.11 billion, a P/E ratio of 460.44, a price-to-earnings-growth ratio of 2.26 and a beta of 1.40. The company’s 50-day moving average is $38.17 and its two-hundred day moving average is $35.47. The company has a quick ratio of 1.53, a current ratio of 2.41 and a debt-to-equity ratio of 0.97.
Barnes Group (NYSE:B – Get Free Report) last released its quarterly earnings data on Friday, April 26th. The industrial products company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.35 by $0.03. The business had revenue of $430.64 million for the quarter, compared to the consensus estimate of $425.32 million. Barnes Group had a net margin of 0.31% and a return on equity of 5.92%. Equities analysts predict that Barnes Group Inc. will post 1.73 EPS for the current year.
Barnes Group Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Wednesday, May 29th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Wednesday, May 29th. Barnes Group’s payout ratio is 711.11%.
Institutional Investors Weigh In On Barnes Group
A number of institutional investors and hedge funds have recently bought and sold shares of B. Vanguard Group Inc. grew its position in Barnes Group by 3.8% during the first quarter. Vanguard Group Inc. now owns 5,689,535 shares of the industrial products company’s stock valued at $211,366,000 after acquiring an additional 206,351 shares during the last quarter. Irenic Capital Management LP bought a new position in Barnes Group during the fourth quarter valued at approximately $47,219,000. Charles Schwab Investment Management Inc. grew its position in Barnes Group by 8.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 771,557 shares of the industrial products company’s stock valued at $25,176,000 after acquiring an additional 62,823 shares during the last quarter. Kennedy Capital Management LLC grew its position in Barnes Group by 10.7% during the first quarter. Kennedy Capital Management LLC now owns 753,625 shares of the industrial products company’s stock valued at $27,997,000 after acquiring an additional 72,546 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC grew its position in Barnes Group by 1.4% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 494,517 shares of the industrial products company’s stock valued at $16,136,000 after acquiring an additional 7,048 shares during the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.
Barnes Group Company Profile
Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. The company operates through two segments: Industrial and Aerospace. The Industrial segment offers precision components, products, and systems used by various customers in end-markets, such as mobility, industrial equipment, automation, personal care, packaging, electronics, and medical devices.