Barnes Group (NYSE:B) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Barnes Group (NYSE:BGet Rating) posted its earnings results on Friday. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01, MarketWatch Earnings reports. Barnes Group had a return on equity of 7.07% and a net margin of 7.93%. The firm had revenue of $312.80 million for the quarter, compared to analyst estimates of $306.54 million. During the same quarter in the prior year, the company earned $0.38 EPS. Barnes Group’s revenue was up 3.7% on a year-over-year basis. Barnes Group updated its FY22 guidance to $2.20-2.40 EPS.

B opened at $33.58 on Friday. Barnes Group has a one year low of $33.06 and a one year high of $56.98. The company has a market cap of $1.70 billion, a P/E ratio of 17.13, a PEG ratio of 1.58 and a beta of 1.12. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.42 and a current ratio of 2.19. The business’s 50-day simple moving average is $40.36 and its 200-day simple moving average is $43.54.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 10th. Stockholders of record on Thursday, February 24th were issued a $0.16 dividend. The ex-dividend date was Wednesday, February 23rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.91%. Barnes Group’s payout ratio is currently 32.65%.

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

Large investors have recently added to or reduced their stakes in the stock. Sei Investments Co. grew its stake in Barnes Group by 24.8% during the 4th quarter. Sei Investments Co. now owns 240,620 shares of the industrial products company’s stock worth $11,213,000 after buying an additional 47,862 shares during the last quarter. Parametric Portfolio Associates LLC grew its stake in Barnes Group by 27.2% during the 4th quarter. Parametric Portfolio Associates LLC now owns 170,422 shares of the industrial products company’s stock worth $7,940,000 after buying an additional 36,393 shares during the last quarter. Legal & General Group Plc grew its stake in Barnes Group by 3.1% during the 4th quarter. Legal & General Group Plc now owns 131,937 shares of the industrial products company’s stock worth $6,147,000 after buying an additional 3,949 shares during the last quarter. Wells Fargo & Company MN grew its stake in Barnes Group by 19.1% during the 4th quarter. Wells Fargo & Company MN now owns 116,647 shares of the industrial products company’s stock worth $5,434,000 after buying an additional 18,685 shares during the last quarter. Finally, California State Teachers Retirement System grew its stake in Barnes Group by 2.0% during the 4th quarter. California State Teachers Retirement System now owns 66,390 shares of the industrial products company’s stock worth $3,093,000 after buying an additional 1,296 shares during the last quarter. Hedge funds and other institutional investors own 84.81% of the company’s stock.

Several equities analysts recently issued reports on the company. Truist Financial decreased their target price on Barnes Group from $48.00 to $41.00 and set a “hold” rating on the stock in a research note on Tuesday, April 19th. Zacks Investment Research raised Barnes Group from a “sell” rating to a “hold” rating and set a $39.00 price target on the stock in a research report on Friday. StockNews.com initiated coverage on Barnes Group in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, Alembic Global Advisors lowered 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 investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $48.83.

Barnes Group Company Profile (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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Earnings History for Barnes Group (NYSE:B)

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