Barnes Group (NYSE:B) Lowered to Neutral at Alembic Global Advisors

Alembic Global Advisors downgraded shares of Barnes Group (NYSE:BGet Rating) from an overweight rating to a neutral rating in a research note issued to investors on Monday morning, Marketbeat reports. They currently have $42.00 price objective on the industrial products company’s stock.

Several other equities analysts have also recently issued reports on B. Zacks Investment Research upgraded Barnes Group from a sell rating to a hold rating and set a $49.00 price target on the stock in a research report on Tuesday, February 15th. StockNews.com began coverage on Barnes Group in a research report on Thursday, March 31st. They issued a buy rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $51.17.

B opened at $36.39 on Monday. The business’s 50-day simple moving average is $43.12 and its 200-day simple moving average is $44.20. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.42 and a current ratio of 2.19. Barnes Group has a one year low of $36.30 and a one year high of $56.98. The stock has a market capitalization of $1.84 billion, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 1.60 and a beta of 1.12.

Barnes Group (NYSE:BGet Rating) last posted its earnings results on Friday, February 18th. The industrial products company reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.09. Barnes Group had a return on equity of 7.07% and a net margin of 7.93%. The business had revenue of $311.00 million for the quarter, compared to analysts’ expectations of $313.23 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts forecast that Barnes Group will post 2.31 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 10th. Shareholders of record on Thursday, February 24th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Wednesday, February 23rd. Barnes Group’s payout ratio is 32.65%.

In other Barnes Group news, SVP James C. Pelletier sold 1,619 shares of the business’s stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of $46.50, for a total transaction of $75,283.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.10% of the company’s stock.

Several large investors have recently made changes to their positions in B. Marshall Wace LLP purchased a new stake in shares of Barnes Group during the 1st quarter worth approximately $347,000. First Trust Advisors LP purchased a new stake in shares of Barnes Group during the 1st quarter worth approximately $734,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Barnes Group during the 1st quarter worth approximately $3,425,000. Mondrian Investment Partners LTD lifted its stake in Barnes Group by 30.6% in the 3rd quarter. Mondrian Investment Partners LTD now owns 86,249 shares of the industrial products company’s stock valued at $3,599,000 after buying an additional 20,225 shares in the last quarter. Finally, Ziegler Capital Management LLC lifted its stake in Barnes Group by 10.2% in the 3rd quarter. Ziegler Capital Management LLC now owns 12,337 shares of the industrial products company’s stock valued at $515,000 after buying an additional 1,138 shares in the last quarter. 84.81% of the stock is currently owned by institutional investors and hedge funds.

About Barnes Group (Get Rating)

Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. It operates in 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.

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