Barnes Group (NYSE:B) Shares Gap Up to $33.39

Shares of Barnes Group Inc. (NYSE:B) gapped up prior to trading on Thursday . The stock had previously closed at $33.39, but opened at $35.49. Barnes Group shares last traded at $35.98, with a volume of 61,870 shares trading hands.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. DA Davidson raised shares of Barnes Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $35.00 to $45.00 in a research note on Thursday. Oppenheimer boosted their target price on shares of Barnes Group from $36.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Truist Financial boosted their target price on shares of Barnes Group from $23.00 to $34.00 and gave the company a “hold” rating in a research note on Wednesday, January 10th. Finally, StockNews.com raised shares of Barnes Group from a “sell” rating to a “hold” rating in a research note on Monday, February 19th.

Barnes Group Stock Performance

The stock’s 50 day moving average price is $36.01 and its 200 day moving average price is $31.84. The company has a current ratio of 2.29, a quick ratio of 1.37 and a debt-to-equity ratio of 0.94. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 115.52, a P/E/G ratio of 2.01 and a beta of 1.38.

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

Barnes Group Announces Dividend

The firm also recently announced 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. This represents a $0.64 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Wednesday, February 21st. Barnes Group’s dividend payout ratio (DPR) is presently 206.46%.

Institutional Trading of Barnes Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC boosted its holdings in Barnes Group by 418.3% in the 4th quarter. Parallel Advisors LLC now owns 1,218 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 983 shares during the period. Lazard Asset Management LLC acquired a new stake in Barnes Group in the second quarter valued at approximately $51,000. GAMMA Investing LLC acquired a new stake in Barnes Group in the fourth quarter valued at 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 valued at $69,000 after acquiring an additional 1,732 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Barnes Group by 275.3% in the first quarter. Tower Research Capital LLC TRC now owns 1,715 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 1,258 shares in the last quarter. 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.