Barnes Group (NYSE:B) Stock Price Down 3.5%

Barnes Group Inc. (NYSE:B) shares traded down 3.5% during trading on Friday . The stock traded as low as $32.65 and last traded at $34.65. 29,311 shares changed hands during trading, a decline of 91% from the average session volume of 323,389 shares. The stock had previously closed at $35.91.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. DA Davidson upgraded shares of Barnes Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $35.00 to $45.00 in a research note on Thursday, April 18th. Oppenheimer increased their price target on shares of Barnes Group from $36.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Truist Financial raised their target price on shares of Barnes Group from $23.00 to $34.00 and gave the company a “hold” rating in a research note on Wednesday, January 10th. Finally, StockNews.com upgraded shares of Barnes Group from a “sell” rating to a “hold” rating in a research note on Monday, February 19th.

Barnes Group Stock Down 4.0 %

The business’s fifty day moving average price is $36.06 and its 200 day moving average price is $31.97. The company has a market capitalization of $1.75 billion, a P/E ratio of 111.20, a P/E/G ratio of 2.13 and a beta of 1.38. The company has a current ratio of 2.29, a quick ratio of 1.37 and a debt-to-equity ratio of 0.94.

Barnes Group (NYSE:B) last released its quarterly earnings data on Friday, February 16th. The industrial products company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. The company had revenue of $415.50 million during the quarter, compared to the consensus estimate of $420.47 million. Barnes Group had a net margin of 1.10% and a return on equity of 6.20%. The firm’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same period last year, the firm earned $0.52 EPS. As a group, equities research analysts predict that Barnes Group Inc. will post 1.69 earnings per share for the current fiscal year.

Barnes Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Thursday, February 22nd were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date was Wednesday, February 21st. Barnes Group’s payout ratio is 206.46%.

Hedge Funds Weigh In On Barnes Group

Several institutional investors have recently added to or reduced their stakes in B. Vanguard Group Inc. grew its position in shares of Barnes Group by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 5,483,184 shares of the industrial products company’s stock worth $178,916,000 after buying an additional 20,267 shares during the period. Irenic Capital Management LP acquired a new stake in shares of Barnes Group during the 4th quarter worth approximately $47,219,000. Charles Schwab Investment Management Inc. grew its position in shares of Barnes Group by 8.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 771,557 shares of the industrial products company’s stock worth $25,176,000 after buying an additional 62,823 shares during the period. Patriot Financial Group Insurance Agency LLC grew its position in shares of Barnes Group by 1.4% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 494,517 shares of the industrial products company’s stock worth $16,136,000 after buying an additional 7,048 shares during the period. Finally, First Eagle Investment Management LLC grew its position in shares of Barnes Group by 31.8% during the 4th quarter. First Eagle Investment Management LLC now owns 414,301 shares of the industrial products company’s stock worth $13,519,000 after buying an additional 99,957 shares during the period. 90.82% of the stock is owned by institutional investors.

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.