Barnes Group (NYSE:B) Shares Gap Up – Still a Buy?

Barnes Group Inc. (NYSE:B)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $40.06, but opened at $44.07. Barnes Group shares last traded at $44.02, with a volume of 196,710 shares traded.

Analyst Ratings Changes

Several research analysts have issued reports on B shares. DA Davidson raised their target price on Barnes Group from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Oppenheimer raised their target price on Barnes Group from $43.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. Finally, Truist Financial raised their target price on Barnes Group from $34.00 to $38.00 and gave the stock a “hold” rating in a research report on Monday, July 29th.

Barnes Group Price Performance

The firm has a 50 day moving average price of $38.55 and a 200 day moving average price of $38.52. The company has a quick ratio of 1.33, a current ratio of 2.24 and a debt-to-equity ratio of 0.90. The stock has a market cap of $2.28 billion, a P/E ratio of 491.44, a P/E/G ratio of 2.43 and a beta of 1.38.

Barnes Group (NYSE:B) last posted its quarterly earnings data on Friday, July 26th. The industrial products company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). Barnes Group had a positive return on equity of 5.21% and a negative net margin of 3.74%. The company had revenue of $382.23 million during the quarter, compared to the consensus estimate of $398.80 million. On average, analysts forecast that Barnes Group Inc. will post 1.62 EPS for the current fiscal year.

Barnes Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 22nd were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.43%. The ex-dividend date was Thursday, August 22nd. Barnes Group’s dividend payout ratio (DPR) is presently 711.11%.

Institutional Trading of Barnes Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE increased its stake in Barnes Group by 175.1% in the 4th quarter. US Bancorp DE now owns 18,956 shares of the industrial products company’s stock worth $619,000 after acquiring an additional 12,066 shares during the last quarter. Parallel Advisors LLC increased its stake 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 last quarter. Invenomic Capital Management LP bought a new stake in Barnes Group in the 4th quarter worth approximately $7,759,000. Vanguard Group Inc. increased its stake in Barnes Group by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 5,483,184 shares of the industrial products company’s stock worth $178,916,000 after acquiring an additional 20,267 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in Barnes Group in the 4th quarter worth approximately $322,000. 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.