Barnes Group (NYSE:B) Price Target Raised to $47.50 at Truist Financial

Barnes Group (NYSE:B) had its price target boosted by Truist Financial from $38.00 to $47.50 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

B has been the topic of several other reports. DA Davidson restated a neutral rating and set a $47.50 target price (down from $52.00) on shares of Barnes Group in a research report on Monday, October 7th. Oppenheimer boosted their price objective on Barnes Group from $43.00 to $48.00 and gave the stock an outperform rating in a research note on Friday, June 14th.

Barnes Group Stock Performance

NYSE:B opened at $46.65 on Tuesday. The company has a market cap of $2.37 billion, a price-to-earnings ratio of -40.22, a PEG ratio of 2.87 and a beta of 1.38. Barnes Group has a 1 year low of $18.79 and a 1 year high of $46.70. The stock’s 50 day simple moving average is $39.33 and its two-hundred day simple moving average is $38.93. 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 posted its earnings results on Friday, July 26th. The industrial products company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business had revenue of $382.23 million during the quarter, compared to analysts’ expectations of $398.80 million. Barnes Group had a negative net margin of 3.74% and a positive return on equity of 5.21%. As a group, equities analysts anticipate that Barnes Group will post 1.62 earnings per share for the current fiscal year.

Barnes Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 22nd were given 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 of this dividend was Thursday, August 22nd. Barnes Group’s dividend payout ratio (DPR) is -55.17%.

Institutional Trading of Barnes Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position 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 valued at $66,000 after buying an additional 238 shares during the period. Handelsbanken Fonder AB raised its holdings in shares of Barnes Group by 5.1% in the third quarter. Handelsbanken Fonder AB now owns 10,355 shares of the industrial products company’s stock worth $418,000 after buying an additional 500 shares during the period. SG Americas Securities LLC bought a new stake in shares of Barnes Group during the 3rd quarter worth approximately $178,000. William B. Walkup & Associates Inc. purchased a new position in Barnes Group during the 2nd quarter valued at $714,000. Finally, Creative Planning grew its position in Barnes Group by 13.8% in the 2nd quarter. Creative Planning now owns 25,423 shares of the industrial products company’s stock valued at $1,053,000 after acquiring an additional 3,089 shares during the last quarter. 90.82% of the stock is 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.