Oppenheimer Boosts Barnes Group (NYSE:B) Price Target to $48.00

Barnes Group (NYSE:B) had its price target raised by Oppenheimer from $43.00 to $48.00 in a research note released on Friday, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Other research analysts have also issued research reports about the company. StockNews.com upgraded Barnes Group from a sell rating to a hold rating in a research report on Monday, February 19th. DA Davidson lifted their price objective on Barnes Group from $45.00 to $48.00 and gave the stock a buy rating in a research note on Thursday.

Barnes Group Trading Down 0.8 %

Shares of NYSE B opened at $38.89 on Friday. The stock has a market cap of $1.97 billion, a P/E ratio of 432.11, a price-to-earnings-growth ratio of 2.28 and a beta of 1.40. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.41 and a quick ratio of 1.53. Barnes Group has a 1 year low of $18.79 and a 1 year high of $43.65. The firm has a 50-day moving average of $37.61 and a 200 day moving average of $34.83.

Barnes Group (NYSE:B) last issued its 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. The business had revenue of $430.64 million for the quarter, compared to the consensus estimate of $425.32 million. Barnes Group had a return on equity of 5.92% and a net margin of 0.31%. As a group, sell-side analysts expect that Barnes Group will post 1.73 EPS for the current fiscal year.

Barnes Group Announces Dividend

The firm 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 1.65%. The ex-dividend date of this dividend was Wednesday, May 29th. Barnes Group’s payout ratio is 711.11%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC increased its stake in Barnes Group by 418.3% in the 4th quarter. Parallel Advisors LLC now owns 1,218 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 983 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Barnes Group in the fourth quarter valued at $58,000. CWM LLC increased its position in shares of Barnes Group by 470.7% in the fourth quarter. CWM LLC now owns 2,100 shares of the industrial products company’s stock valued at $69,000 after buying an additional 1,732 shares in the last quarter. EntryPoint Capital LLC acquired a new position in shares of Barnes Group during the 1st quarter worth $107,000. Finally, TFO Wealth Partners LLC boosted its position in shares of Barnes Group by 57,362.5% in the 4th quarter. TFO Wealth Partners LLC now owns 4,597 shares of the industrial products company’s stock worth $150,000 after buying an additional 4,589 shares in the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

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.