Barnes Group (NYSE:B) Now Covered by StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of Barnes Group (NYSE:B – Get Rating) in a report released on Thursday. The firm set a “buy” rating on the industrial products company’s stock.

Separately, Truist Financial decreased their price objective on shares of Barnes Group from $40.00 to $37.00 in a report on Monday, April 24th.

Barnes Group Stock Up 3.5 %

Shares of NYSE B opened at $41.08 on Thursday. The company has a current ratio of 2.41, a quick ratio of 1.47 and a debt-to-equity ratio of 0.41. Barnes Group has a 12 month low of $27.93 and a 12 month high of $47.36. The firm has a market capitalization of $2.08 billion, a PE ratio of 373.45, a price-to-earnings-growth ratio of 1.83 and a beta of 1.23. The firm has a fifty day simple moving average of $39.82 and a two-hundred day simple moving average of $40.92.

Barnes Group (NYSE:B – Get Rating) last issued its quarterly earnings data on Thursday, April 27th. The industrial products company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.39 by $0.08. Barnes Group had a net margin of 0.48% and a return on equity of 7.94%. The business had revenue of $335.40 million during the quarter, compared to analyst estimates of $312.91 million. During the same period in the prior year, the business earned $0.41 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities analysts expect that Barnes Group will post 2.2 earnings per share for the current year.

Insider Transactions at Barnes Group

In other Barnes Group news, Director Neal J. Keating bought 2,500 shares of Barnes Group stock in a transaction dated Tuesday, May 2nd. The shares were purchased at an average cost of $41.59 per share, with a total value of $103,975.00. Following the transaction, the director now directly owns 4,872 shares of the company’s stock, valued at $202,626.48. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.10% of the company’s stock.

Institutional Trading of Barnes Group

Institutional investors have recently bought and sold shares of the company. WFA of San Diego LLC purchased a new stake in Barnes Group during the 4th quarter valued at about $48,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Barnes Group by 66.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,396 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 954 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Barnes Group by 275.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,715 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 1,258 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Barnes Group by 203.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,860 shares of the industrial products company’s stock valued at $76,000 after acquiring an additional 1,247 shares during the last quarter. Finally, US Asset Management LLC purchased a new stake in shares of Barnes Group during the 4th quarter valued at about $83,000. 86.16% of the stock is owned by hedge funds and other institutional investors.

Barnes Group Company Profile

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Barnes Group, Inc engages in the provision of engineered products, industrial technologies, and solutions. It operates through the Industrial and Aerospace segments. The Industrial segment includes molding solutions, force and motion control, and the automation and engineered components business units.