Barnes Group Inc. (NYSE:B) experienced a notable increase in short interest during the month of August, according to recent reports. On August 15th, the total number of shares with short interest reached 364,300, reflecting an 11.8% growth from the previous month’s total of 325,900 shares. With an average daily trading volume of 204,200 shares, the short-interest ratio currently stands at 1.8 days. This indicates that it would take approximately 1.8 days for all short positions to be covered at the average daily trading volume.
Financial analysts have recently provided their insights on Barnes Group Inc. StockNews.com initiated coverage on Barnes Group and assigned a “buy” rating on the stock on August 17th. Additionally, Truist Financial raised its price target for Barnes Group from $38.00 to $40.00 and maintained a “hold” rating in a research note dated July 21st.
Furthermore, Barnes Group recently announced a quarterly dividend that is set to be paid on September 8th to stockholders of record as of August 24th. The dividend amount per share is $0.16 and represents an annualized dividend yield of 1.66%. Based on the current payout ratio of 52.03%, it is evident that a significant portion of Barnes Group’s earnings are allocated towards shareholder distributions.
In terms of ownership structure, several large investors have made adjustments to their holdings of Barnes Group stock in recent times. Cerity Partners LLC acquired a new stake in the company during the first quarter worth around $664,000. Metropolitan Life Insurance Co NY increased its holdings by 9.9% in the fourth quarter and now owns approximately 3,164 shares valued at $129,000 after purchasing an additional 286 shares during the period.
Overall, hedge funds and institutional investors own about 85.72% of Barnes Group’s stock. Notably, Envestnet Asset Management Inc. increased its holdings by 0.5% during the second quarter and New York State Teachers Retirement System raised its stake by 0.4% in the first quarter.
As August draws to a close, these recent developments in short interest, analysts’ ratings, dividend announcements, and investor activity provide valuable insights into Barnes Group’s current market position and investor sentiment. These factors indicate potential opportunities and risks that investors may consider when making decisions regarding their investment strategies in relation to Barnes Group Inc.
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
|Analyst / firm||Rating|
Barnes Group: A Stable Industrial Products Company with Impressive Dividends and Financial Performance
August 31, 2023
Barnes Group: A Study in Dividends and Financial Performance
Barnes Group, a well-established industrial products company traded on the New York Stock Exchange under the symbol B, continues to attract investor attention with its recent declaration of a quarterly dividend. The dividend payment is scheduled for Friday, September 8th, and stockholders who were recorded on Thursday, August 24th will receive $0.16 per share. This translates to an annualized dividend payout of $0.64 and an impressive dividend yield of 1.66%. However, what is truly intriguing is Barnes Group’s current dividend payout ratio, which stands at a noteworthy 52.03%.
As trading opened on Wednesday, Barnes Group’s stock was valued at $38.59 per share. Despite fluctuations in market conditions and various economic challenges faced by other companies in this sector recently, Barnes Group has managed to maintain a stable financial position. The firm boasts a debt-to-equity ratio of 0.41 along with impressive liquidity ratios such as the current ratio of 2.29 and quick ratio of 1.41.
Barnes Group’s market capitalization currently stands at $1.95 billion, reflecting its strong presence in the industry and investor confidence in its future prospects. With a price-to-earnings ratio of 31.37 and a beta value of 1.20, investors are intrigued by what this industrial products company has to offer.
When looking at long-term performance indicators based on moving averages, Barnes Group shows consistency with a fifty-day simple moving average of $40.27 and a two-hundred day simple moving average of $40.52.
In terms of financial performance metrics for the second quarter ending July 28th, Barnes Group exceeded market expectations by reporting an earnings per share (EPS) figure of $0.58 instead of the anticipated $0.54. This favorable outcome can largely be attributed to the company’s ability to generate revenue of $339 million, which although slightly below analyst estimates, still represents a 5.6% increase compared to the same quarter last year.
Analyzing Barnes Group’s profitability figures further reveals a net margin of 4.84%, showcasing the company’s ability to effectively manage costs and operate efficiently within its industry. Additionally, Barnes Group has ensured a decent return on equity at 7.92%, reflecting its commitment to satisfying investor expectations.
Industry experts and analysts foresee continued success for Barnes Group in the current fiscal year. It is predicted that the firm will post an EPS of 2.21, solidifying its reputation as a reliable investment option.
In conclusion, Barnes Group stands out in the industrial products sector with its impressive dividend payout ratio, stable financial position, and consistent performance indicators. Investors looking for long-term stability and potential growth are keen on monitoring this established player in the market. As we approach the dividend payment date, market participants eagerly await further updates from Barnes Group regarding its future prospects and financial performance moving forward.