Barnes Group (NYSE:B) Reaches New 12-Month High – Still a Buy?

Barnes Group Inc. (NYSE:B) shares hit a new 52-week high during trading on Monday . The stock traded as high as $46.71 and last traded at $46.68, with a volume of 232859 shares trading hands. The stock had previously closed at $46.65.

Analyst Upgrades and Downgrades

Several research firms have issued reports on B. DA Davidson reaffirmed a “neutral” rating and set a $47.50 price target (down previously from $52.00) on shares of Barnes Group in a report on Monday, October 7th. Truist Financial raised their target price on shares of Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a report on Tuesday, October 8th. Finally, StockNews.com lowered shares of Barnes Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th.

Barnes Group Price Performance

The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.33 and a current ratio of 2.24. The company has a market cap of $2.36 billion, a P/E ratio of 517.22, a P/E/G ratio of 2.87 and a beta of 1.38. The firm’s fifty day moving average is $39.71 and its two-hundred day moving average is $39.09.

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

Barnes Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 22nd were paid a $0.16 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $0.64 dividend on an annualized basis and a yield of 1.37%. Barnes Group’s dividend payout ratio is currently 711.11%.

Institutional Investors Weigh In On Barnes Group

Several hedge funds have recently made changes to their positions in B. GAMMA Investing LLC lifted its position in shares of 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 purchasing an additional 238 shares during the period. EntryPoint Capital LLC bought a new stake in Barnes Group during the 1st quarter valued at $107,000. SG Americas Securities LLC purchased a new position in shares of Barnes Group in the 3rd quarter valued at $178,000. QRG Capital Management Inc. bought a new position in shares of Barnes Group in the 1st quarter worth $217,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Barnes Group during the 1st quarter worth $253,000. 90.82% of the stock is currently owned by hedge funds and other 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.