Barnes Group (NYSE:B) Issues Earnings Results

Barnes Group (NYSE:B) posted its earnings results on Friday. The industrial products company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.30), reports. The business had revenue of $387.79 million for the quarter, compared to analysts’ expectations of $372.66 million. Barnes Group had a negative net margin of 3.74% and a positive return on equity of 5.21%.

Barnes Group Stock Up 0.4 %

NYSE:B opened at $46.90 on Friday. Barnes Group has a fifty-two week low of $18.79 and a fifty-two week high of $47.03. The stock has a market capitalization of $2.38 billion, a P/E ratio of 521.11, a P/E/G ratio of 2.87 and a beta of 1.38. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.33 and a current ratio of 2.24. The company’s 50-day simple moving average is $41.15 and its 200-day simple moving average is $39.67.

Institutional Trading of Barnes Group

A number of institutional investors have recently bought and sold shares of the stock. Roubaix Capital LLC boosted its stake in Barnes Group by 0.3% in the 3rd quarter. Roubaix Capital LLC now owns 245,477 shares of the industrial products company’s stock worth $9,920,000 after purchasing an additional 771 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its stake in Barnes Group by 9.6% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 548,088 shares of the industrial products company’s stock worth $22,148,000 after purchasing an additional 47,821 shares in the last quarter. Jade Capital Advisors LLC acquired a new stake in Barnes Group in the 3rd quarter worth approximately $606,000. GAMMA Investing LLC boosted its stake in Barnes Group by 17.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 238 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in Barnes Group by 5.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 10,355 shares of the industrial products company’s stock worth $418,000 after purchasing an additional 500 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on B shares. DA Davidson reissued a “neutral” rating and set a $47.50 target price (down previously from $52.00) on shares of Barnes Group in a research report on Monday, October 7th. Truist Financial raised their price target on shares of Barnes Group from $38.00 to $47.50 and gave the company a “hold” rating in a report on Tuesday, October 8th. Finally, StockNews.com assumed coverage on shares of Barnes Group in a report on Friday. They issued a “sell” rating on the 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.