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

Barnes Group Inc. (NYSE:B) shares 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 trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on B. Oppenheimer boosted their price objective on shares of Barnes Group from $43.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. Truist Financial boosted their price objective on shares of Barnes Group from $34.00 to $38.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Finally, DA Davidson upped their price target on shares of Barnes Group from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, July 29th.

Barnes Group Trading Up 12.1 %

The firm’s 50-day moving average price is $38.55 and its 200 day moving average price is $38.52. 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 company has a market cap of $2.28 billion, a price-to-earnings 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 results on Friday, July 26th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). Barnes Group had a negative net margin of 3.74% and a positive return on equity of 5.21%. The business had revenue of $382.23 million during the quarter, compared to analyst estimates of $398.80 million. As a group, equities analysts expect that Barnes Group Inc. will post 1.62 EPS for the current year.

Barnes Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 22nd were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Thursday, August 22nd. Barnes Group’s dividend payout ratio is 711.11%.

Institutional Investors Weigh In On Barnes Group

Hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC raised 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 valued at $40,000 after acquiring an additional 983 shares during the period. EntryPoint Capital LLC bought a new stake in Barnes Group in the 1st quarter valued at about $107,000. SG Americas Securities LLC bought a new stake in Barnes Group in the 3rd quarter valued at about $178,000. QRG Capital Management Inc. bought a new stake in Barnes Group in the 1st quarter valued at about $217,000. Finally, Janney Montgomery Scott LLC bought a new stake in Barnes Group in the 1st quarter valued at about $253,000. 90.82% of the stock is currently owned by institutional investors.

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.