Barnes Group (NYSE:B) Given New $47.50 Price Target at Truist Financial

Barnes Group (NYSE:B) had its target price lifted by Truist Financial from $38.00 to $47.50 in a report released on Tuesday morning, Benzinga reports. Truist Financial currently has a hold rating on the industrial products company’s stock.

Several other equities analysts also recently weighed in on B. DA Davidson reissued a neutral rating and set a $47.50 target price (down previously from $52.00) on shares of Barnes Group in a research report on Monday. Oppenheimer lifted their price target on shares of 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 Stock Performance

NYSE B opened at $46.52 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 2.24 and a debt-to-equity ratio of 0.90. Barnes Group has a twelve month low of $18.79 and a twelve month high of $46.70. The business has a 50-day moving average price of $38.89 and a 200-day moving average price of $38.75. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 516.89, a price-to-earnings-growth ratio of 2.43 and a beta of 1.38.

Barnes Group (NYSE:B) last issued its quarterly earnings data on Friday, July 26th. The industrial products company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The firm had revenue of $382.23 million for 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%. As a group, equities research analysts predict that Barnes Group will post 1.62 EPS for the current fiscal year.

Barnes Group Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in Barnes Group by 17.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company’s stock worth $66,000 after acquiring an additional 238 shares during the last quarter. EntryPoint Capital LLC purchased a new position in Barnes Group during the first quarter worth approximately $107,000. SG Americas Securities LLC purchased a new position in shares of Barnes Group during the 3rd quarter valued at approximately $178,000. QRG Capital Management Inc. acquired a new stake in shares of Barnes Group in the first quarter valued at about $217,000. Finally, Janney Montgomery Scott LLC acquired a new stake in Barnes Group in the 1st quarter worth about $253,000. 90.82% of the stock is 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.