Barnes Group (NYSE:B) Stock Price Up 5%

Barnes Group Inc. (NYSE:B)’s stock price rose 5% during mid-day trading on Wednesday . The company traded as high as $42.53 and last traded at $40.85. Approximately 679,589 shares traded hands during mid-day trading, an increase of 120% from the average daily volume of 309,018 shares. The stock had previously closed at $38.90.

Analysts Set New Price Targets

A number of research firms have recently commented on B. Oppenheimer boosted their price objective on Barnes Group from $43.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. DA Davidson boosted their price objective on Barnes Group from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, June 13th.

Barnes Group Trading Up 1.8 %

The company has a 50 day moving average price of $38.46 and a 200 day moving average price of $35.56. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of 464.00, a price-to-earnings-growth ratio of 2.43 and a beta of 1.40. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.53 and a current ratio of 2.41.

Barnes Group (NYSE:B) last announced its quarterly earnings results on Friday, April 26th. The industrial products company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.35 by $0.03. Barnes Group had a return on equity of 5.92% and a net margin of 0.31%. The business had revenue of $430.64 million for the quarter, compared to analyst estimates of $425.32 million. On average, research analysts expect that Barnes Group Inc. will post 1.73 earnings per share for the current year.

Barnes Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Wednesday, May 29th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.51%. The ex-dividend date was Wednesday, May 29th. Barnes Group’s payout ratio is 711.11%.

Hedge Funds Weigh In On Barnes Group

Several hedge funds have recently bought and sold shares of the company. Irenic Capital Management LP purchased a new stake in Barnes Group during the 4th quarter worth about $47,219,000. Norges Bank purchased a new stake in Barnes Group during the 4th quarter worth about $10,871,000. Invenomic Capital Management LP purchased a new stake in Barnes Group during the 4th quarter worth about $7,759,000. Vanguard Group Inc. increased its holdings in Barnes Group by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 5,689,535 shares of the industrial products company’s stock worth $211,366,000 after purchasing an additional 206,351 shares during the period. Finally, Roubaix Capital LLC purchased a new stake in Barnes Group during the 4th quarter worth about $4,123,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

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.