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 report published on Friday, Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

Other analysts have also issued reports about the stock. DA Davidson upped their price objective on shares of Barnes Group from $45.00 to $48.00 and gave the company a buy rating in a research note on Thursday, June 13th. StockNews.com raised shares of Barnes Group from a sell rating to a hold rating in a research report on Monday, February 19th.

Barnes Group Price Performance

B stock opened at $39.84 on Friday. The company has a current ratio of 2.41, a quick ratio of 1.53 and a debt-to-equity ratio of 0.97. Barnes Group has a one year low of $18.79 and a one year high of $43.65. The firm has a market capitalization of $2.02 billion, a PE ratio of 442.67, a P/E/G ratio of 2.25 and a beta of 1.40. The firm has a 50-day moving average of $37.61 and a two-hundred day moving average of $34.89.

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

Barnes Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Wednesday, May 29th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Wednesday, May 29th. Barnes Group’s dividend payout ratio (DPR) is 711.11%.

Hedge Funds Weigh In On Barnes Group

A number of hedge funds have recently added to or reduced their stakes in B. Parallel Advisors LLC increased its holdings in Barnes Group by 418.3% in the fourth quarter. Parallel Advisors LLC now owns 1,218 shares of the industrial products company’s stock worth $40,000 after buying an additional 983 shares during the last quarter. GAMMA Investing LLC acquired a new position in Barnes Group in the fourth quarter worth approximately $58,000. CWM LLC increased its holdings in Barnes Group by 470.7% in the fourth quarter. CWM LLC now owns 2,100 shares of the industrial products company’s stock worth $69,000 after buying an additional 1,732 shares during the last quarter. EntryPoint Capital LLC acquired a new position in Barnes Group in the first quarter worth approximately $107,000. Finally, TFO Wealth Partners LLC increased its holdings in Barnes Group by 57,362.5% in the fourth 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 during the last quarter. 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.