Barnes Group (NYSE:B) Shares Gap Up to $33.39

Barnes Group Inc. (NYSE:B) shares gapped up prior to trading on Thursday . The stock had previously closed at $33.39, but opened at $35.49. Barnes Group shares last traded at $35.98, with a volume of 61,870 shares trading hands.

Analyst Ratings Changes

Several analysts have commented on B shares. Oppenheimer lifted their price target on Barnes Group from $36.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. StockNews.com upgraded Barnes Group from a “sell” rating to a “hold” rating in a report on Monday, February 19th. Truist Financial boosted their target price on Barnes Group from $23.00 to $34.00 and gave the stock a “hold” rating in a report on Wednesday, January 10th. Finally, DA Davidson upgraded Barnes Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $35.00 to $45.00 in a report on Thursday.

Barnes Group Stock Down 0.9 %

The firm has a 50-day moving average of $36.05 and a 200 day moving average of $31.88. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 115.36, a price-to-earnings-growth ratio of 1.98 and a beta of 1.38. The company has a current ratio of 2.29, a quick ratio of 1.37 and a debt-to-equity ratio of 0.94.

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

Barnes Group Dividend Announcement

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

Hedge Funds Weigh In On Barnes Group

Several institutional investors and hedge funds have recently made changes to their positions in B. Irenic Capital Management LP purchased a new position in shares of Barnes Group during the 4th quarter valued at approximately $47,219,000. Norges Bank purchased a new position in shares of Barnes Group during the 4th quarter valued at approximately $19,412,000. Mason Capital Management LLC boosted its stake in shares of Barnes Group by 94.7% during the 4th quarter. Mason Capital Management LLC now owns 961,364 shares of the industrial products company’s stock valued at $31,369,000 after buying an additional 467,627 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Barnes Group by 20.1% during the first quarter. Thrivent Financial for Lutherans now owns 1,646,791 shares of the industrial products company’s stock worth $66,333,000 after purchasing an additional 275,574 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its stake in Barnes Group by 505.1% during the fourth quarter. Voloridge Investment Management LLC now owns 293,348 shares of the industrial products company’s stock worth $9,572,000 after purchasing an additional 244,869 shares during 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.