Barnes Group (NYSE:B) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Barnes Group Inc. (NYSE:B) saw unusually-strong trading volume on Wednesday . Approximately 261,207 shares traded hands during trading, a decline of 34% from the previous session’s volume of 394,771 shares.The stock last traded at $46.54 and had previously closed at $46.53.

Analyst Ratings Changes

A number of research firms recently weighed in on B. StockNews.com cut shares of Barnes Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th. DA Davidson reiterated a “neutral” rating and issued a $47.50 price objective (down from $52.00) on shares of Barnes Group in a research note on Monday, October 7th. Finally, Truist Financial raised their target price on Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a research report on Tuesday, October 8th.

Barnes Group Price Performance

The stock has a market capitalization of $2.36 billion, a P/E ratio of 517.06, a PEG ratio of 2.87 and a beta of 1.38. The company’s 50 day simple moving average is $39.71 and its two-hundred day simple moving average is $39.09. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.24 and a quick ratio of 1.33.

Barnes Group (NYSE:B) last released its quarterly earnings results on Friday, July 26th. The industrial products company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $398.80 million. As a group, equities analysts expect that Barnes Group Inc. will post 1.62 EPS for the current fiscal year.

Barnes Group Announces Dividend

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

Institutional Trading of Barnes Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in shares of Barnes Group by 17.1% during the third quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company’s stock worth $66,000 after buying an additional 238 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Barnes Group during the first quarter worth $107,000. SG Americas Securities LLC bought a new stake in Barnes Group in the third quarter valued at about $178,000. QRG Capital Management Inc. acquired a new position in Barnes Group in the first quarter valued at about $217,000. Finally, Janney Montgomery Scott LLC bought a new position in Barnes Group during the first quarter worth about $253,000. 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.