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

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

Wall Street Analysts Forecast Growth

B has been the subject of several analyst reports. StockNews.com upgraded shares of Barnes Group from a “sell” rating to a “hold” rating in a research note on Monday, February 19th. Oppenheimer upped their target price on Barnes Group from $36.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. DA Davidson raised Barnes Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $35.00 to $45.00 in a research note on Thursday, April 18th. Finally, 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 report on Wednesday, January 10th.

Barnes Group Stock Down 4.0 %

The company has a quick ratio of 1.37, a current ratio of 2.29 and a debt-to-equity ratio of 0.94. The firm has a 50 day moving average of $36.11 and a two-hundred day moving average of $31.94. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 111.19, a price-to-earnings-growth ratio of 2.15 and a beta of 1.38.

Barnes Group (NYSE:B) last announced its quarterly earnings results on Friday, February 16th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.06. The company had revenue of $415.50 million for the quarter, compared to analyst estimates 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 was up 32.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 EPS. As a group, sell-side analysts anticipate that Barnes Group Inc. will post 1.69 EPS for the current fiscal year.

Barnes Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Thursday, February 22nd were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $0.64 dividend on an annualized basis and a yield of 1.86%. Barnes Group’s dividend payout ratio is currently 206.45%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Strategic Financial Concepts LLC bought a new stake in shares of Barnes Group in the 1st quarter valued at about $302,000. Quadrature Capital Ltd acquired a new stake in Barnes Group in the fourth quarter valued at approximately $322,000. Vanguard Group Inc. raised its position in shares of Barnes Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 5,483,184 shares of the industrial products company’s stock worth $178,916,000 after purchasing an additional 20,267 shares during the period. Invenomic Capital Management LP bought a new position in shares of Barnes Group in the 4th quarter worth $7,759,000. Finally, Irenic Capital Management LP acquired a new stake in Barnes Group in the 4th quarter valued at $47,219,000. Institutional investors and hedge funds 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.