Barnes Group (NYSE:B) Hits New 1-Year High - Should You Buy?

Barnes Group Inc. (NYSE:B - Get Free Report)'s share price hit a new 52-week high during trading on Thursday . The company traded as high as $46.72 and last traded at $46.69, with a volume of 65932 shares. The stock had previously closed at $46.67.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on B. StockNews.com began coverage on Barnes Group in a report on Thursday, October 17th. They set a "sell" rating on the stock. DA Davidson restated a "neutral" rating and set a $47.50 price objective (down from $52.00) on shares of Barnes Group in a report on Monday, October 7th. Finally, Truist Financial upped their target price on shares of Barnes Group from $38.00 to $47.50 and gave the stock a "hold" rating in a research note on Tuesday, October 8th.

Barnes Group Stock Up 0.1 %

The stock's fifty day moving average price is $40.81 and its 200-day moving average price is $39.53. The company has a quick ratio of 1.33, a current ratio of 2.24 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 518.89, a P/E/G ratio of 2.87 and a beta of 1.38.

Barnes Group (NYSE:B - Get Free Report) last issued its quarterly earnings results on Friday, July 26th. The industrial products company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). The business had revenue of $382.23 million for the quarter, compared to the consensus estimate of $398.80 million. Barnes Group had a positive return on equity of 5.21% and a negative net margin of 3.74%. On average, sell-side analysts predict that Barnes Group Inc. will post 1.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Barnes Group

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Barnes Group by 3.8% in the first quarter. Vanguard Group Inc. now owns 5,689,535 shares of the industrial products company's stock valued at $211,366,000 after purchasing an additional 206,351 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Barnes Group by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,587,611 shares of the industrial products company's stock valued at $148,565,000 after buying an additional 60,152 shares during the last quarter. Mason Capital Management LLC raised its holdings in Barnes Group by 32.9% in the 2nd quarter. Mason Capital Management LLC now owns 1,050,079 shares of the industrial products company's stock valued at $43,484,000 after acquiring an additional 259,957 shares during the period. Westwood Holdings Group Inc. acquired a new stake in Barnes Group during the second quarter worth approximately $32,576,000. Finally, Kennedy Capital Management LLC boosted its holdings in shares of Barnes Group by 10.7% during the first quarter. Kennedy Capital Management LLC now owns 753,625 shares of the industrial products company's stock worth $27,997,000 after acquiring an additional 72,546 shares during the period. 90.82% of the stock is currently owned by institutional investors and hedge funds.

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.