Barnes Group (NYSE:B) Hits New 12-Month Low on Insider Selling

Barnes Group Inc. (NYSE:BGet Rating)’s share price hit a new 52-week low on Thursday following insider selling activity. The stock traded as low as $31.08 and last traded at $32.79, with a volume of 351893 shares traded. The stock had previously closed at $31.29.

Specifically, Director Mylle H. Mangum sold 5,000 shares of Barnes Group stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $32.25, for a total value of $161,250.00. Following the transaction, the director now owns 22,610 shares in the company, valued at $729,172.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James C. Pelletier sold 1,619 shares of Barnes Group stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $46.50, for a total value of $75,283.50. The disclosure for this sale can be found here. Company insiders own 5.10% of the company’s stock.

A number of equities research analysts have recently weighed in on B shares. Alembic Global Advisors lowered Barnes Group from an “overweight” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research note on Monday, April 11th. Zacks Investment Research raised Barnes Group from a “sell” rating to a “hold” rating and set a $39.00 target price for the company in a report on Friday, April 29th. StockNews.com initiated coverage on Barnes Group in a report on Thursday, March 31st. They set a “buy” rating for the company. Finally, Truist Financial decreased their target price on Barnes Group from $48.00 to $41.00 and set a “hold” rating for the company in a report on Tuesday, April 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Barnes Group currently has an average rating of “Hold” and a consensus target price of $48.83.

The company has a quick ratio of 1.53, a current ratio of 2.43 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $1.66 billion, a PE ratio of 15.80, a PEG ratio of 1.49 and a beta of 1.16. The company has a 50-day moving average of $38.33 and a 200 day moving average of $43.00.

Barnes Group (NYSE:BGet Rating) last issued its quarterly earnings results on Friday, April 29th. The industrial products company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.40 by $0.01. Barnes Group had a return on equity of 7.06% and a net margin of 7.95%. The firm had revenue of $312.80 million during the quarter, compared to analysts’ expectations of $306.54 million. During the same period in the previous year, the business earned $0.38 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, equities analysts predict that Barnes Group Inc. will post 2.2 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Thursday, May 26th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.95%. The ex-dividend date is Wednesday, May 25th. Barnes Group’s payout ratio is currently 32.32%.

A number of large investors have recently modified their holdings of the business. State Board of Administration of Florida Retirement System boosted its holdings in shares of Barnes Group by 1.4% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 17,986 shares of the industrial products company’s stock valued at $751,000 after acquiring an additional 240 shares during the last quarter. Pitcairn Co. raised its position in shares of Barnes Group by 4.1% during the third quarter. Pitcairn Co. now owns 6,066 shares of the industrial products company’s stock valued at $253,000 after buying an additional 240 shares during the last quarter. Maryland State Retirement & Pension System raised its position in shares of Barnes Group by 1.4% during the fourth quarter. Maryland State Retirement & Pension System now owns 18,568 shares of the industrial products company’s stock valued at $865,000 after buying an additional 260 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Barnes Group by 9.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 3,670 shares of the industrial products company’s stock valued at $171,000 after buying an additional 304 shares during the last quarter. Finally, Heritage Wealth Management LLC increased its position in Barnes Group by 21.2% in the third quarter. Heritage Wealth Management LLC now owns 1,816 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 318 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Barnes Group Company Profile (NYSE:B)

Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. 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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