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

Barnes Group Inc. (NYSE:B) gapped up before the market opened 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.

Analyst Upgrades and Downgrades

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

Barnes Group Price Performance

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

Barnes Group (NYSE:B) last issued its earnings results 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. The business had revenue of $415.50 million during the quarter, compared to analysts’ expectations of $420.47 million. Barnes Group had a net margin of 1.10% and a return on equity of 6.20%. The company’s quarterly revenue was up 32.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 earnings per share. Equities research analysts expect that Barnes Group Inc. will post 1.69 earnings per share for the current fiscal year.

Barnes Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Thursday, February 22nd were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date was Wednesday, February 21st. Barnes Group’s dividend payout ratio (DPR) is 206.46%.

Institutional Investors Weigh In On Barnes Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quadrature Capital Ltd acquired a new stake in Barnes Group during the fourth quarter worth about $322,000. Vanguard Group Inc. increased its position in 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 last quarter. Goldman Sachs Group Inc. increased its position in Barnes Group by 4.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 94,152 shares of the industrial products company’s stock worth $3,072,000 after purchasing an additional 3,642 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Barnes Group by 9.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,407 shares of the industrial products company’s stock worth $993,000 after buying an additional 2,509 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its stake in Barnes Group by 1,506.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 21,420 shares of the industrial products company’s stock worth $699,000 after buying an additional 20,087 shares during the period. 90.82% of the stock is currently owned by institutional investors and hedge funds.

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.