StockNews.com started coverage on shares of Barnes Group (NYSE:B – Free Report) in a research report sent to investors on Thursday morning. The firm issued a sell rating on the industrial products company’s stock.
A number of other equities analysts have also recently commented on B. Truist Financial raised their target price on Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a report on Tuesday, October 8th. DA Davidson reaffirmed a “neutral” rating and issued a $47.50 price objective (down previously from $52.00) on shares of Barnes Group in a research note on Monday, October 7th.
Read Our Latest Research Report on B
Barnes Group Trading Up 0.2 %
Barnes Group (NYSE:B – Get Free Report) last posted its quarterly earnings data on Friday, July 26th. The industrial products company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The firm had revenue of $382.23 million for the quarter, compared to analysts’ expectations of $398.80 million. Barnes Group had a negative net margin of 3.74% and a positive return on equity of 5.21%. Research analysts forecast that Barnes Group will post 1.62 earnings per share for the current year.
Institutional Investors Weigh In On Barnes Group
A number of institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in shares of Barnes Group by 17.1% during the third quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company’s stock valued at $66,000 after buying an additional 238 shares during the last quarter. QRG Capital Management Inc. grew its stake in Barnes Group by 4.1% during the second quarter. QRG Capital Management Inc. now owns 6,073 shares of the industrial products company’s stock valued at $251,000 after acquiring an additional 240 shares in the last quarter. Texas Permanent School Fund Corp increased its holdings in Barnes Group by 0.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 44,613 shares of the industrial products company’s stock valued at $1,847,000 after acquiring an additional 263 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Barnes Group by 1.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 25,500 shares of the industrial products company’s stock worth $1,056,000 after purchasing an additional 400 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Barnes Group by 5.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 10,355 shares of the industrial products company’s stock valued at $418,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.
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.
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