Barnes Group (NYSE:B) Shares Gap Up to $33.39

Barnes Group Inc. (NYSE:B - Get Free Report)'s share price gapped up before the market opened on Thursday . The stock had previously closed at $33.39, but opened at $35.49. Barnes Group shares last traded at $35.98, with a volume of 61,870 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on B shares. Truist Financial increased their target price on Barnes Group from $23.00 to $34.00 and gave the company a "hold" rating in a report on Wednesday, January 10th. DA Davidson raised Barnes Group from a "neutral" rating to a "buy" rating and increased their target price for the company from $35.00 to $45.00 in a report on Thursday. Oppenheimer increased their target price on Barnes Group from $36.00 to $43.00 and gave the company an "outperform" rating in a report on Tuesday, February 20th. Finally, StockNews.com raised Barnes Group from a "sell" rating to a "hold" rating in a report on Monday, February 19th.

Barnes Group Trading Up 8.1 %

The company has a current ratio of 2.29, a quick ratio of 1.37 and a debt-to-equity ratio of 0.94. The stock has a 50 day simple moving average of $36.04 and a 200-day simple moving average of $31.87. The firm has a market cap of $1.83 billion, a P/E ratio of 116.46, a P/E/G ratio of 2.01 and a beta of 1.38.

Barnes Group (NYSE:B - Get Free Report) last released its earnings results on Friday, February 16th. The industrial products company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.06. The firm had revenue of $415.50 million for the quarter, compared to the consensus estimate of $420.47 million. Barnes Group had a return on equity of 6.20% and a net margin of 1.10%. The company's revenue for the quarter was up 32.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. On average, equities research analysts expect that Barnes Group Inc. will post 1.69 EPS for the current fiscal year.

Barnes Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Thursday, February 22nd were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Wednesday, February 21st. Barnes Group's dividend payout ratio (DPR) is presently 206.46%.

Institutional Investors Weigh In On Barnes Group

Several hedge funds have recently made changes to their positions in B. Irenic Capital Management LP purchased a new stake in shares of Barnes Group in the 4th quarter worth $47,219,000. Norges Bank purchased a new stake in shares of Barnes Group in the 4th quarter worth $19,412,000. Mason Capital Management LLC lifted its stake in shares of Barnes Group by 94.7% during the 4th quarter. Mason Capital Management LLC now owns 961,364 shares of the industrial products company's stock worth $31,369,000 after purchasing an additional 467,627 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Barnes Group by 20.1% during the 1st quarter. Thrivent Financial for Lutherans now owns 1,646,791 shares of the industrial products company's stock worth $66,333,000 after purchasing an additional 275,574 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its stake in shares of Barnes Group by 505.1% during the 4th quarter. Voloridge Investment Management LLC now owns 293,348 shares of the industrial products company's stock worth $9,572,000 after purchasing an additional 244,869 shares during the last quarter. 90.82% of the stock is currently 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.