Barnes Group (NYSE:B) Issues FY22 Earnings Guidance

Barnes Group (NYSE:BGet Rating) updated its FY22 earnings guidance on Friday. The company provided EPS guidance of $2.20-2.40 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.27.

A number of research analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Barnes Group in a research report on Thursday, March 31st. They set a buy rating on the stock. Zacks Investment Research upgraded shares of Barnes Group from a sell rating to a hold rating and set a $49.00 price objective on the stock in a research report on Tuesday, February 15th. Truist Financial lowered their price objective on shares of Barnes Group from $48.00 to $41.00 and set a hold rating on the stock in a research report on Tuesday, April 19th. Finally, Alembic Global Advisors downgraded shares of Barnes Group from an overweight rating to a neutral rating and set a $42.00 price target on the stock. in a research report on Monday, April 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $50.50.

B opened at $36.35 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.42 and a debt-to-equity ratio of 0.42. Barnes Group has a 1-year low of $35.41 and a 1-year high of $56.98. The company has a market capitalization of $1.84 billion, a PE ratio of 18.55, a PEG ratio of 1.68 and a beta of 1.12. The firm’s 50 day simple moving average is $40.64 and its two-hundred day simple moving average is $43.61.

Barnes Group (NYSE:BGet Rating) last released its quarterly earnings results on Friday, February 18th. The industrial products company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.09. The business had revenue of $311.00 million for the quarter, compared to the consensus estimate of $313.23 million. Barnes Group had a net margin of 7.93% and a return on equity of 7.07%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm earned $0.36 earnings per share. Equities analysts forecast that Barnes Group will post 2.27 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 10th. Stockholders of record on Thursday, February 24th were paid a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, February 23rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.76%. Barnes Group’s dividend payout ratio (DPR) is presently 32.65%.

In other news, SVP James C. Pelletier sold 1,619 shares of the stock in a transaction on Friday, February 25th. The shares were sold at an average price of $46.50, for a total value of $75,283.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.10% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in B. Sei Investments Co. grew its stake in Barnes Group by 24.8% during the fourth quarter. Sei Investments Co. now owns 240,620 shares of the industrial products company’s stock valued at $11,213,000 after acquiring an additional 47,862 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in Barnes Group by 27.2% during the fourth quarter. Parametric Portfolio Associates LLC now owns 170,422 shares of the industrial products company’s stock valued at $7,940,000 after acquiring an additional 36,393 shares in the last quarter. Legal & General Group Plc grew its stake in Barnes Group by 3.1% during the fourth quarter. Legal & General Group Plc now owns 131,937 shares of the industrial products company’s stock valued at $6,147,000 after acquiring an additional 3,949 shares in the last quarter. Wells Fargo & Company MN grew its stake in Barnes Group by 19.1% during the fourth quarter. Wells Fargo & Company MN now owns 116,647 shares of the industrial products company’s stock valued at $5,434,000 after acquiring an additional 18,685 shares in the last quarter. Finally, California State Teachers Retirement System grew its stake in Barnes Group by 2.0% during the fourth quarter. California State Teachers Retirement System now owns 66,390 shares of the industrial products company’s stock valued at $3,093,000 after acquiring an additional 1,296 shares in the last quarter. 84.81% of the stock is owned by hedge funds and other institutional investors.

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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