Barnes Group (NYSE:B) Downgraded by StockNews.com

StockNews.com cut shares of Barnes Group (NYSE:B) from a hold rating to a sell rating in a research note published on Tuesday.

Several other equities research analysts have also recently commented on the stock. Oppenheimer raised their target price on shares of Barnes Group from $43.00 to $48.00 and gave the stock an outperform rating in a research report on Friday, June 14th. Truist Financial lifted their target price on shares of Barnes Group from $38.00 to $47.50 and gave the stock a hold rating in a report on Tuesday. Finally, DA Davidson reiterated a neutral rating and issued a $47.50 price target (down from $52.00) on shares of Barnes Group in a research note on Monday.

Barnes Group Price Performance

B stock opened at $46.62 on Tuesday. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 518.00, a PEG ratio of 2.43 and a beta of 1.38. The company has a quick ratio of 1.33, a current ratio of 2.24 and a debt-to-equity ratio of 0.90. Barnes Group has a 12-month low of $18.79 and a 12-month high of $46.70. The company’s fifty day simple moving average is $39.16 and its 200 day simple moving average is $38.86.

Barnes Group (NYSE:B) last issued its quarterly earnings data on Friday, July 26th. The industrial products company reported $0.37 earnings per share (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 firm had revenue of $382.23 million during the quarter, compared to the consensus estimate of $398.80 million. On average, analysts expect that Barnes Group will post 1.62 earnings per share for the current year.

Barnes Group Announces Dividend

The firm also recently announced 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 was Thursday, August 22nd. Barnes Group’s dividend payout ratio (DPR) is 711.11%.

Institutional Trading of Barnes Group

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings 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 in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Barnes Group during the first quarter worth approximately $107,000. SG Americas Securities LLC purchased a new position in Barnes Group in the third quarter valued at approximately $178,000. QRG Capital Management Inc. purchased a new position in Barnes Group in the first quarter valued at approximately $217,000. Finally, Intech Investment Management LLC purchased a new position in Barnes Group in the second quarter valued at approximately $277,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

About Barnes Group

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.