Barnes Group (NYSE:B) Shares Up 4.3%

Barnes Group Inc. (NYSE:B) shot up 4.3% during mid-day trading on Monday . The company traded as high as $40.35 and last traded at $40.09. 32,269 shares were traded during trading, a decline of 90% from the average session volume of 315,274 shares. The stock had previously closed at $38.44.

Wall Street Analyst Weigh In

B has been the topic of a number of recent research reports. Truist Financial raised their price objective on Barnes Group from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Monday, July 29th. DA Davidson raised their price target on shares of Barnes Group from $48.00 to $52.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Oppenheimer boosted their price objective on shares of Barnes Group from $43.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th.

Barnes Group Stock Up 1.8 %

The stock has a market capitalization of $1.98 billion, a PE ratio of 441.67, a price-to-earnings-growth ratio of 2.38 and a beta of 1.41. The company has a current ratio of 2.24, a quick ratio of 1.33 and a debt-to-equity ratio of 0.90. The company’s 50-day moving average is $39.99 and its 200 day moving average is $38.02.

Barnes Group (NYSE:B) last announced its quarterly earnings data on Friday, July 26th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). The firm had revenue of $382.23 million during the quarter, compared to analysts’ expectations of $398.80 million. Barnes Group had a positive return on equity of 5.21% and a negative net margin of 3.74%. As a group, analysts anticipate that Barnes Group Inc. will post 1.64 EPS for the current year.

Barnes Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 22nd will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Thursday, August 22nd. Barnes Group’s dividend payout ratio (DPR) is currently 711.11%.

Hedge Funds Weigh In On Barnes Group

A number of institutional investors have recently modified their holdings of B. Russell Investments Group Ltd. increased its position in shares of Barnes Group by 36.9% during the fourth quarter. Russell Investments Group Ltd. now owns 314,262 shares of the industrial products company’s stock worth $10,254,000 after purchasing an additional 84,695 shares in the last quarter. UniSuper Management Pty Ltd purchased a new stake in shares of Barnes Group during the first quarter worth $497,000. Invenomic Capital Management LP acquired a new stake in shares of Barnes Group in the fourth quarter valued at about $7,759,000. Vanguard Group Inc. lifted its stake in shares of Barnes Group by 3.8% in the first quarter. Vanguard Group Inc. now owns 5,689,535 shares of the industrial products company’s stock worth $211,366,000 after buying an additional 206,351 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Barnes Group by 64.8% during the first quarter. BNP Paribas Financial Markets now owns 26,382 shares of the industrial products company’s stock worth $980,000 after acquiring an additional 10,373 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

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.