Barnes Group (NYSE:B) Sets New 1-Year High – What’s Next?

Shares of Barnes Group Inc. (NYSE:B) reached a new 52-week high on Monday . The stock traded as high as $46.42 and last traded at $46.42, with a volume of 106776 shares traded. The stock had previously closed at $45.26.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. DA Davidson reaffirmed a “neutral” rating and issued a $47.50 price objective (down previously from $52.00) on shares of Barnes Group in a research report on Monday. Truist Financial increased 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. Finally, Oppenheimer boosted their price objective on Barnes Group from $43.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, June 14th.

Barnes Group Price Performance

The stock has a market capitalization of $2.35 billion, a PE ratio of 515.78, a PEG ratio of 2.43 and a beta of 1.38. The company has a current ratio of 2.24, a quick ratio of 1.33 and a debt-to-equity ratio of 0.90. The business has a fifty day moving average price of $38.63 and a 200-day moving average price of $38.61.

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

Barnes Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 22nd were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Thursday, August 22nd. Barnes Group’s payout ratio is 711.11%.

Institutional Trading of Barnes Group

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of Barnes Group by 17.1% during the third quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 238 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in Barnes Group by 5.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 10,355 shares of the industrial products company’s stock valued at $418,000 after purchasing an additional 500 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Barnes Group in the 3rd quarter worth $178,000. William B. Walkup & Associates Inc. purchased a new position in shares of Barnes Group in the second quarter worth $714,000. Finally, Creative Planning lifted its holdings in shares of Barnes Group by 13.8% during the second quarter. Creative Planning now owns 25,423 shares of the industrial products company’s stock valued at $1,053,000 after purchasing an additional 3,089 shares in the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

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.