Barnes Group (NYSE:B) Shares Gap Down to $39.49

Barnes Group Inc. (NYSE:B) gapped down before the market opened on Friday . The stock had previously closed at $39.49, but opened at $38.00. Barnes Group shares last traded at $38.75, with a volume of 219,440 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. DA Davidson raised their price objective on Barnes Group from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. 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.

Barnes Group Stock Down 0.7 %

The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.53 and a current ratio of 2.41. The firm’s 50-day moving average is $37.98 and its two-hundred day moving average is $35.27. The stock has a market cap of $1.99 billion, a P/E ratio of 435.56, a PEG ratio of 2.29 and a beta of 1.40.

Barnes Group (NYSE:B) last posted its quarterly earnings data on Friday, April 26th. The industrial products company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.03. The firm had revenue of $430.64 million during the quarter, compared to analysts’ expectations of $425.32 million. Barnes Group had a net margin of 0.31% and a return on equity of 5.92%. On average, equities research analysts anticipate that Barnes Group Inc. will post 1.73 earnings per share for the current year.

Barnes Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Wednesday, May 29th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Wednesday, May 29th. Barnes Group’s dividend payout ratio (DPR) is 711.11%.

Hedge Funds Weigh In On Barnes Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its holdings in shares of Barnes Group by 29.6% in the 3rd quarter. Invesco Ltd. now owns 383,403 shares of the industrial products company’s stock valued at $13,024,000 after purchasing an additional 87,472 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Barnes Group by 562.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 46,601 shares of the industrial products company’s stock valued at $1,583,000 after purchasing an additional 39,564 shares during the period. MQS Management LLC raised its holdings in shares of Barnes Group by 103.6% in the 3rd quarter. MQS Management LLC now owns 13,932 shares of the industrial products company’s stock valued at $473,000 after purchasing an additional 7,088 shares during the period. Knightsbridge Asset Management LLC bought a new stake in shares of Barnes Group in the 3rd quarter valued at about $458,000. Finally, Kennedy Capital Management LLC bought a new position in Barnes Group in the 3rd quarter valued at about $2,354,000. 90.82% of the stock is owned by institutional investors and hedge funds.

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.