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

Barnes Group Inc. (NYSE:B) fell 3.5% during mid-day 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.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on B. DA Davidson raised Barnes Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $35.00 to $45.00 in a research report on Thursday, April 18th. Truist Financial raised their price objective on Barnes Group from $23.00 to $34.00 and gave the stock a “hold” rating in a research report on Wednesday, January 10th. Oppenheimer raised their price objective on Barnes Group from $36.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Finally, StockNews.com raised Barnes Group from a “sell” rating to a “hold” rating in a research report on Monday, February 19th.

Barnes Group Price Performance

The company has a market cap of $1.75 billion, a PE ratio of 111.20, a price-to-earnings-growth ratio of 2.13 and a beta of 1.38. 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 stock has a 50 day moving average of $36.06 and a 200-day moving average of $31.97.

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

Barnes Group Announces Dividend

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

Institutional Investors Weigh In On Barnes Group

A number of large investors have recently made changes to their positions in B. Parallel Advisors LLC grew its position in shares of Barnes Group by 418.3% in the fourth quarter. Parallel Advisors LLC now owns 1,218 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 983 shares in the last quarter. GAMMA Investing LLC purchased a new position in Barnes Group in the fourth quarter worth approximately $58,000. CWM LLC grew its position in Barnes Group by 470.7% in the fourth quarter. CWM LLC now owns 2,100 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 1,732 shares during the period. TFO Wealth Partners LLC grew its position in Barnes Group by 57,362.5% in the fourth quarter. TFO Wealth Partners LLC now owns 4,597 shares of the industrial products company’s stock worth $150,000 after acquiring an additional 4,589 shares during the period. Finally, Simplex Trading LLC grew its position in Barnes Group by 3,438.3% in the fourth quarter. Simplex Trading LLC now owns 6,543 shares of the industrial products company’s stock worth $213,000 after acquiring an additional 6,739 shares during the period. 90.82% of the stock is currently owned by hedge funds and other 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.