Barnes Group (NYSE:B) Sets New 12-Month Low at $31.03

Barnes Group Inc. (NYSE:BGet Rating)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $31.03 and last traded at $31.24, with a volume of 5906 shares changing hands. The stock had previously closed at $33.34.

A number of brokerages have recently commented on B. Truist Financial cut their price objective on Barnes Group from $48.00 to $41.00 and set a “hold” rating for the company in a research report on Tuesday, April 19th. Alembic Global Advisors downgraded Barnes Group from an “overweight” rating to a “neutral” rating and set a $42.00 price objective for the company. in a research report on Monday, April 11th. Finally, StockNews.com began coverage on Barnes Group in a research report on Thursday, March 31st. They set a “buy” rating for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Barnes Group presently has an average rating of “Buy” and an average price target of $47.50.

The company has a quick ratio of 1.53, a current ratio of 2.43 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 15.99, a P/E/G ratio of 1.42 and a beta of 1.16. The company’s 50-day simple moving average is $34.92 and its 200 day simple moving average is $41.31.

Barnes Group (NYSE:BGet Rating) last posted its earnings results on Friday, April 29th. The industrial products company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. Barnes Group had a net margin of 7.95% and a return on equity of 7.06%. The firm had revenue of $312.80 million for the quarter, compared to the consensus estimate of $306.54 million. During the same period in the prior year, the business posted $0.38 earnings per share. The business’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities analysts expect that Barnes Group Inc. will post 2.2 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Thursday, May 26th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Wednesday, May 25th. Barnes Group’s dividend payout ratio (DPR) is 32.32%.

In related news, Director Mylle H. Mangum sold 5,000 shares of the stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $32.25, for a total value of $161,250.00. Following the completion of the sale, the director now owns 22,610 shares in the company, valued at $729,172.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 5.10% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Barnes Group during the fourth quarter worth approximately $23,555,000. Millennium Management LLC increased its holdings in shares of Barnes Group by 1,497.0% during the third quarter. Millennium Management LLC now owns 359,077 shares of the industrial products company’s stock worth $14,984,000 after buying an additional 336,592 shares in the last quarter. Champlain Investment Partners LLC increased its holdings in shares of Barnes Group by 9.3% during the fourth quarter. Champlain Investment Partners LLC now owns 3,105,605 shares of the industrial products company’s stock worth $144,690,000 after buying an additional 265,060 shares in the last quarter. Royce & Associates LP acquired a new stake in shares of Barnes Group during the fourth quarter worth approximately $11,936,000. Finally, BlackRock Inc. increased its holdings in shares of Barnes Group by 2.8% during the fourth quarter. BlackRock Inc. now owns 7,394,143 shares of the industrial products company’s stock worth $344,493,000 after buying an additional 202,363 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

About Barnes Group (NYSE:B)

Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. It operates in 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.

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