Barnes Group (NYSE:B) Shares Gap Up to $33.39

Barnes Group Inc. (NYSE:B) shares gapped up before the market opened on Thursday . The stock had previously closed at $33.39, but opened at $35.49. Barnes Group shares last traded at $35.98, with a volume of 61,870 shares.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on B shares. DA Davidson raised Barnes Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $35.00 to $45.00 in a research note on Thursday. Truist Financial raised their price objective on Barnes Group from $23.00 to $34.00 and gave the company a “hold” rating in a research note on Wednesday, January 10th. StockNews.com raised Barnes Group from a “sell” rating to a “hold” rating in a research note on Monday, February 19th. Finally, Oppenheimer raised their price objective on Barnes Group from $36.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th.

Barnes Group Trading Down 0.9 %

The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.37 and a current ratio of 2.29. The company has a 50-day simple moving average of $36.05 and a 200 day simple moving average of $31.88. The company has a market capitalization of $1.81 billion, a P/E ratio of 115.36, a P/E/G ratio of 1.98 and a beta of 1.38.

Barnes Group (NYSE:B) last issued its quarterly earnings results on Friday, February 16th. The industrial products company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.35 by $0.06. The company had revenue of $415.50 million for the quarter, compared to the consensus estimate of $420.47 million. Barnes Group had a return on equity of 6.20% and a net margin of 1.10%. The company’s revenue for the quarter was up 32.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.52 EPS. Sell-side analysts expect that Barnes Group Inc. will post 1.69 earnings per share for the current year.

Barnes Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Thursday, February 22nd were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend was Wednesday, February 21st. Barnes Group’s dividend payout ratio is currently 206.46%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in B. First Eagle Investment Management LLC grew its holdings in shares of Barnes Group by 49.6% during the 3rd quarter. First Eagle Investment Management LLC now owns 314,344 shares of the industrial products company’s stock worth $10,678,000 after purchasing an additional 104,198 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Barnes Group by 316.2% during the 4th quarter. State of Alaska Department of Revenue now owns 131,176 shares of the industrial products company’s stock worth $4,280,000 after purchasing an additional 99,655 shares in the last quarter. Trust Point Inc. acquired a new stake in shares of Barnes Group during the 4th quarter worth approximately $414,000. Illinois Municipal Retirement Fund acquired a new stake in shares of Barnes Group during the 3rd quarter worth approximately $1,040,000. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of Barnes Group by 40.1% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 49,149 shares of the industrial products company’s stock worth $1,670,000 after purchasing an additional 14,067 shares in the last quarter. 90.82% of the stock is owned by institutional investors.

About Barnes Group

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.