Barnes Group Inc. (NYSE:B – Get Free Report) shares were up 4.3% during trading on Monday . The company traded as high as $40.35 and last traded at $40.09. Approximately 32,269 shares changed hands during trading, a decline of 90% from the average daily volume of 315,274 shares. The stock had previously closed at $38.44.
Wall Street Analysts Forecast Growth
B has been the subject of several research analyst reports. Oppenheimer lifted their price objective on Barnes Group from $43.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. DA Davidson raised their price target on shares of Barnes Group from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Truist Financial upped their price objective on shares of Barnes Group from $34.00 to $38.00 and gave the company a “hold” rating in a report on Monday, July 29th.
Barnes Group Price Performance
The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 441.67, a PEG ratio of 2.38 and a beta of 1.41. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.24 and a quick ratio of 1.33. The business’s fifty day moving average price is $39.99 and its 200-day moving average price is $38.02.
Barnes Group (NYSE:B – Get Free Report) last released its quarterly earnings results on Friday, July 26th. The industrial products company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Barnes Group had a negative net margin of 3.74% and a positive return on equity of 5.21%. The company had revenue of $382.23 million during the quarter, compared to analysts’ expectations of $398.80 million. On average, research analysts forecast that Barnes Group Inc. will post 1.64 EPS for the current year.
Barnes Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 22nd will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Thursday, August 22nd. Barnes Group’s payout ratio is 711.11%.
Institutional Investors Weigh In On Barnes Group
Hedge funds have recently modified their holdings of the stock. QRG Capital Management Inc. raised its position in shares of Barnes Group by 4.1% in the second quarter. QRG Capital Management Inc. now owns 6,073 shares of the industrial products company’s stock valued at $251,000 after purchasing an additional 240 shares during the period. Texas Permanent School Fund Corp lifted its position in shares of Barnes Group by 0.6% during the second quarter. Texas Permanent School Fund Corp now owns 44,613 shares of the industrial products company’s stock worth $1,847,000 after acquiring an additional 263 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Barnes Group by 1.6% in the second quarter. Louisiana State Employees Retirement System now owns 25,500 shares of the industrial products company’s stock worth $1,056,000 after acquiring an additional 400 shares during the period. Pitcairn Co. boosted its holdings in Barnes Group by 6.0% in the 1st quarter. Pitcairn Co. now owns 9,743 shares of the industrial products company’s stock valued at $362,000 after purchasing an additional 548 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of Barnes Group by 1.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 41,904 shares of the industrial products company’s stock valued at $1,555,000 after purchasing an additional 581 shares in the last quarter. Institutional investors own 90.82% of the company’s stock.
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.