Barnes Group (NYSE:B) Lifted to Buy at DA Davidson

DA Davidson upgraded shares of Barnes Group (NYSE:B) from a neutral rating to a buy rating in a research report report published on Thursday morning, Marketbeat reports. The firm currently has $45.00 price objective on the industrial products company’s stock, up from their previous price objective of $35.00.

A number of other equities research analysts have also weighed in on B. StockNews.com raised Barnes Group from a sell rating to a hold rating in a report on Monday, February 19th. Oppenheimer increased their price objective on Barnes Group from $36.00 to $43.00 and gave the stock an outperform rating in a research report on Tuesday, February 20th. Finally, Truist Financial upped their price target on shares of Barnes Group from $23.00 to $34.00 and gave the stock a hold rating in a research note on Wednesday, January 10th.

Barnes Group Trading Down 0.9 %

NYSE:B opened at $35.76 on Thursday. The company has a quick ratio of 1.37, a current ratio of 2.29 and a debt-to-equity ratio of 0.94. Barnes Group has a 52-week low of $18.79 and a 52-week high of $43.65. The stock’s 50 day moving average price is $36.05 and its 200 day moving average price is $31.88. The company has a market capitalization of $1.81 billion, a PE ratio of 115.36, a P/E/G ratio of 2.13 and a beta of 1.38.

Barnes Group (NYSE:B) last issued its quarterly earnings data on Friday, February 16th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.06. Barnes Group had a net margin of 1.10% and a return on equity of 6.20%. The company had revenue of $415.50 million for the quarter, compared to the consensus estimate of $420.47 million. During the same period last year, the firm posted $0.52 EPS. Barnes Group’s revenue for the quarter was up 32.5% on a year-over-year basis. On average, research analysts anticipate that Barnes Group will post 1.69 EPS for the current year.

Barnes Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Thursday, February 22nd were given a $0.16 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $0.64 annualized dividend and a dividend yield of 1.79%. Barnes Group’s dividend payout ratio is presently 206.46%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co NY increased its position in shares of Barnes Group by 9.9% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,164 shares of the industrial products company’s stock worth $129,000 after acquiring an additional 286 shares in the last quarter. State of Wyoming lifted its stake in shares of Barnes Group by 7.9% during the second quarter. State of Wyoming now owns 4,401 shares of the industrial products company’s stock worth $186,000 after purchasing an additional 322 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Barnes Group by 9.6% in the third quarter. Public Employees Retirement System of Ohio now owns 4,574 shares of the industrial products company’s stock valued at $132,000 after buying an additional 402 shares in the last quarter. Occudo Quantitative Strategies LP raised its holdings in shares of Barnes Group by 2.3% during the 2nd quarter. Occudo Quantitative Strategies LP now owns 19,347 shares of the industrial products company’s stock valued at $602,000 after buying an additional 427 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Barnes Group by 2.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,839 shares of the industrial products company’s stock worth $742,000 after acquiring an additional 483 shares during the period. Institutional investors and hedge funds 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.