According to Zacks, “Barnes Group Inc. is a global industrial and aerospace manufacturer and service provider, serving a wide range of end markets and customers. “
Several other research firms have also recently commented on B. DA Davidson cut their price target on Barnes Group to $56.00 and set a neutral rating for the company in a report on Thursday, April 11th. SunTrust Banks reaffirmed a hold rating and issued a $57.00 price target on shares of Barnes Group in a report on Friday, February 22nd. UBS Group cut Barnes Group from a buy rating to a neutral rating and cut their price target for the company from $72.00 to $65.00 in a report on Friday, February 15th. Finally, Alembic Global Advisors began coverage on Barnes Group in a report on Friday, May 17th. They issued an overweight rating and a $67.00 price target for the company. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Barnes Group currently has a consensus rating of Hold and a consensus target price of $64.86.
NYSE B opened at $56.23 on Tuesday. Barnes Group has a twelve month low of $49.06 and a twelve month high of $72.70. The company has a quick ratio of 1.46, a current ratio of 2.16 and a debt-to-equity ratio of 0.72. The stock has a market cap of $2.85 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 2.45 and a beta of 1.45.
Barnes Group (NYSE:B) last posted its quarterly earnings data on Friday, April 26th. The industrial products company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. Barnes Group had a return on equity of 14.01% and a net margin of 10.72%. The business had revenue of $376.69 million during the quarter, compared to analysts’ expectations of $374.04 million. During the same quarter in the previous year, the firm earned $0.72 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts expect that Barnes Group will post 3.23 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 24th were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $0.64 annualized dividend and a yield of 1.14%. Barnes Group’s dividend payout ratio (DPR) is 19.88%.
In other news, Director Gary G. Benanav sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $55.86, for a total value of $698,250.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Dawn N. Edwards sold 1,750 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $55.44, for a total value of $97,020.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,250 shares of company stock valued at $906,230. Insiders own 8.35% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Marshall Wace North America L.P. bought a new stake in Barnes Group during the 1st quarter worth approximately $316,000. Marshall Wace LLP bought a new stake in Barnes Group during the 1st quarter worth approximately $347,000. Diversified Trust Co bought a new stake in Barnes Group during the 1st quarter worth approximately $248,000. M Holdings Securities Inc. bought a new stake in Barnes Group during the 1st quarter worth approximately $1,051,000. Finally, BlueCrest Capital Management Ltd grew its position in Barnes Group by 56.7% during the 1st quarter. BlueCrest Capital Management Ltd now owns 5,942 shares of the industrial products company’s stock worth $305,000 after acquiring an additional 2,151 shares during the last quarter. Institutional investors own 85.35% of the company’s stock.
Barnes Group Company Profile
Barnes Group Inc operates as an industrial and aerospace manufacturer, and service provider in the United States and internationally. Its Industrial segment offers precision components, products, and systems for applications serving various customers in end-markets, such as transportation, industrial equipment, automation, personal care, packaging, electronics, and medical devices.
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