Barnes Group Inc. (NYSE:B – Get Rating) received an average rating of “Hold” from the seven research companies that currently cover the business, Marketbeat Ratings reports. One financial analyst gave the stock a sell rating, three gave the company a hold rating and three gave the company a buy rating. The 12-month average price target among brokers who have reported on the stock over the past year is $48.83.
B has been the subject of a number of recent research reports. StockNews.com launched coverage on Barnes Group shares in a research note on Thursday, March 31. They issued a “buy” rating on the stock. Zacks Investment Research upgraded Barnes Group shares from a “sell” to a “hold” rating and set a price target of $39.00 on the stock in a Friday, April 29 research note. Alembic Global Advisors downgraded Barnes Group shares from an “overweight” rating to a “neutral” rating and set a price target of $42.00 for the stock. in a Monday, April 11 research note. Finally, Truist Financial lowered its price target on Barnes Group shares from $48.00 to $41.00 and placed a “hold” rating on the stock in a Tuesday, April 19 research note.
Separately, director Mylle H. Mangum sold 5,000 shares of the company in a transaction dated Tuesday, May 10. The shares were sold at an average price of $32.25, for a total transaction of $161,250.00. As a result of the transaction, the administrator now directly owns 22,610 shares of the company, valued at $729,172.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders hold 5.10% of the shares of the company.
Hedge funds have recently increased or reduced their holdings in the stock. UMB Bank NA MO acquired a new stake in Barnes Group during the fourth quarter worth approximately $31,000. Point72 Hong Kong Ltd acquired a new stake in Barnes Group during the fourth quarter worth approximately $34,000. First Horizon Advisors Inc. increased its stake in Barnes Group by 1,647.1% during the fourth quarter. First Horizon Advisors Inc. now owns 891 shares of the industrial products company worth $41,000 after buying an additional 840 shares last quarter. Eagle Bay Advisors LLC increased its holdings of Barnes Group shares by 57.5% in the fourth quarter. Eagle Bay Advisors LLC now owns 967 shares of the industrial products company valued at $46,000 after buying 353 additional shares last quarter. Finally, US Asset Management LLC purchased a new equity stake in Barnes Group in the first quarter valued at around $80,000. 86.03% of the shares are currently held by hedge funds and other institutional investors.
Shares of B opened at $36.67 on Friday. Barnes Group has a 1-year low of $31.08 and a 1-year high of $56.98. The stock has a market capitalization of $1.86 billion, a PE ratio of 18.52, a growth price-earnings ratio of 1.66 and a beta of 1.16. The company has a debt ratio of 0.41, a current ratio of 2.43 and a quick ratio of 1.53. The company has a fifty-day moving average price of $35.94 and a 200-day moving average price of $42.06.
Barnes Group (NYSE:B – Get Rating) last announced its quarterly results on Friday, April 29. The industrial products company reported earnings per share of $0.41 for the quarter, beating consensus analyst estimates of $0.39 by $0.02. Barnes Group had a net margin of 7.95% and a return on equity of 7.06%. The company posted revenue of $312.80 million in the quarter, compared to $306.54 million expected by analysts. During the same period of the previous year, the company made earnings per share of $0.38. Barnes Group’s quarterly revenue increased 3.7% compared to the same quarter last year. As a group, stock analysts expect Barnes Group to post 2.2 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 10. Shareholders of record on Thursday, May 26 will receive a dividend of $0.16 per share. The ex-dividend date is Wednesday, May 25. This represents a dividend of $0.64 on an annualized basis and a dividend yield of 1.75%. Barnes Group’s dividend payout ratio (DPR) is 32.32%.
About Barnes Group (Get a rating)
Barnes Group Inc provides engineered products, industrial technologies and solutions in the United States and around the world. 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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