Barnes Group Stock Analysis: A Closer Look at Recent Research Reports and Investor Activity
In recent times, analysts have been closely monitoring the performance of Barnes Group (NYSE B), providing research reports and recommendations to investors. Additionally, several significant investments and divestments have been made by institutional investors, further shaping the current landscape for the company. This article will explore these developments in detail while also shedding light on key financial indicators.
Recent Research Reports:
StockNews.com recently assumed coverage on Barnes Group’s shares, issuing a “buy” rating on the stock. This analysis provides valuable insights into the company’s potential and positive outlook within the market. Furthermore, Truist Financial raised their price target for Barnes Group from $38.00 to $40.00, attaching a “hold” rating to their report. These research reports contribute to a wider understanding of Barnes Group’s position in the industry.
Barnes Group has witnessed notable investments and divestments from large institutional investors recently. Norges Bank purchased a stake worth $19,412,000 during Q4 of 2023, emphasizing their confidence in the company’s future prospects. Thrivent Financial for Lutherans increased its stake in Barnes Group by 20.3% during Q2, now owning roughly 1,980,747 shares valued at $83,568,000. Furthermore, Mesirow Institutional Investment Management Inc., Vanguard Group Inc., and Invesco Ltd., all made significant additions to their holdings in Barnes Group shares during various periods.
As of September 4th, 2023, Barnes Group stock opened at $39.30 on NYSE B. The company possesses a quick ratio of 1.41 and a current ratio of 2.29 — indicative of strong liquidity positions to meet short-term obligations efficiently.
With a debt-to-equity ratio of 0.41, Barnes Group exhibits a balanced capital structure, signifying the company’s prudent financial management practices. The industrial products company boasts a market capitalization of $1.99 billion and has demonstrated a moderate price-to-earnings (PE) ratio of 31.95.
Crucially, the PEG ratio for Barnes Group stands at 1.75, indicating its potential for sustainable growth within the industry. Finally, the company’s stock performance over the past 52 weeks reflects a range between $27.93 and $47.36.
This review aimed to provide an overview of recent research reports on Barnes Group and analyze significant investments made by institutional investors in their stake within the company. Additionally, we explored notable financial indicators that shed light on Barnes Group’s solid liquidity position, prudent capital structure, and potential for growth.
Considering these factors, investors can make informed decisions about their positions in Barnes Group stock based on research reports and insights provided by renowned analysts alongside other relevant information available in the market at present.
Note: The referenced date is September 4th; therefore, all information presented is accurate as of that date.
Barnes Group Inc.
Updated on: 05/12/2023
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
12:00 PM (UTC)
Date:05 December, 2023
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Barnes Group Inc. (NYSE: B) Continues to Rise with Increased Earnings Estimates and Strong Investor Support
Barnes Group Inc. (NYSE: B) has received an increase in its earnings estimates for FY2023, according to analysts at Zacks Research. The industrial products company is now expected to earn $2.20 per share for the year, which is slightly higher than their previous estimate of $2.19 per share. The consensus estimate for Barnes Group’s current full-year earnings stands at $2.21 per share.
Zacks Research has also provided future earnings estimates for Barnes Group, including Q1 2024 earnings at $0.54 EPS, Q2 2024 earnings at $0.66 EPS, Q2 2025 earnings at $0.67 EPS, and FY2025 earnings at $2.55 EPS.
Several large investors have recently purchased and sold shares of Barnes Group, demonstrating confidence in the company’s potential. One notable investor is Norges Bank, which acquired a new stake in the fourth quarter valued at approximately $19,412,000. Additionally, Thrivent Financial for Lutherans increased its stake in Barnes Group by 20.3% during the second quarter and now owns over 1,980,747 shares of the company’s stock worth around $83,568,000.
Mesirow Institutional Investment Management Inc., another investor, purchased a new position in Barnes Group during the first quarter valued at approximately $8,687,000. Vanguard Group Inc., on the other hand, boosted its stake in Barnes Group by 3.4% during the third quarter and now holds over 5,361,174 shares of the company’s stock valued around $154,831,000.
Invesco Ltd., yet another institutional investor in Barnes Group’s stock, saw a significant increase in its stake during the first quarter – up by 109.9%. Invesco Ltd.’s holdings now include 310,724 shares of the company’s stock worth approximately $12,488,000. Institutional investors currently hold 86.03% of Barnes Group’s stock.
Barnes Group recently reported its quarterly earnings results on July 28th, surpassing analysts’ consensus estimates. The company recorded earnings per share (EPS) of $0.58 for the quarter, representing a $0.04 beat against the estimated $0.54 EPS. Furthermore, Barnes Group generated revenue of $339.00 million for the quarter, slightly below the consensus estimate of $340.43 million.
The industrial products company’s net margin stood at 4.84%, affirming its profitability, while its return on equity stood at 7.92%. Comparatively, Barnes Group’s quarterly revenue increased by 5.6% compared to the same quarter last year when it posted EPS of $0.56.
Adding to this positive performance, Barnes Group has announced a quarterly dividend payment scheduled for September 8th. Stockholders who were listed as of August 24th would receive a dividend of $0.16 per share. This represents an annualized dividend payout of $0.64 and offers a dividend yield of approximately 1.63%. Excluding the record date on August 23rd marks an important date for investors to note.
Overall, Barnes Group continues to show promise and solidify its position in the market as evidenced by increased earnings estimates and consistent dividends provided to shareholders. With investments from notable institutional investors and strong financial performance, it is apparent that Barnes Group remains an attractive option for investors seeking stability and growth in the industrial products industry.