BlackRock Fund Advisors recently announced the acquisition of new stake in Barnes Group Inc. (NYSE:B). The institutional investor has increased its shareholding in the Industrials company by 3.84% to 7.3 million shares with purchase of 0.27 million shares. This fresh investment now brings its stake to 14.43% valued currently at $298.12 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.18 million to 5.28 million shares. And Dimensional Fund Advisors LP has lifted its position by 4.83% or 0.15 million shares – to 3.24 million shares.
With over 0.17 million Barnes Group Inc. (B) shares trading Friday and a closing price of $43.13 on the day, the dollar volume was approximately $7.44 million. The shares have shown a positive half year performance of 32.42% and its price on 01/20/23 gained nearly 2.47%. Currently, there are 50.92M common shares owned by the public and among those 48.07M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for B have a consensus price objective of $40.33. The analysts have set the share’s price value over the next 12 months at a high of $48.00 and a low of $36.00. The average price target is -6.94% below its recent price level and a downside to the estimated low will see the stock lose -19.81% over that period. But an upside of 10.15% will see the stock hit the forecast high price target while median target price for the stock is $37.00.
Insiders at the company have transacted a total of 57 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 34 of these insider trades were purchases, accounting for 155,291 shares. Insider sales of the common stock occurred on 23 occasions, with total insider shares sold totaling 59,053 shares.
The top 3 mutual fund holders in Barnes Group Inc. are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and Delaware Small Cap Value Fund. iShares Core S&P Small Cap ETF owns 3.74 million shares of the company’s stock, all valued at over $152.83 million. The company sold 2544.0 shares recently to bring their total holdings to about 7.40% of the shares outstanding. Vanguard Total Stock Market Index bought 10045.0 shares to see its total holdings expand to 1.46 million shares valued at over $59.62 million and representing 2.89% of the shares outstanding. Delaware Small Cap Value Fund bought 0.11 million shares to bring its total holdings to over 1.36 million shares at a value of $55.4 million. Delaware Small Cap Value Fund now owns shares totaling to 2.68% of the shares outstanding.
Shares of Barnes Group Inc. (NYSE: B) opened at $42.40, up $0.31 from a prior closing price of $42.09. However, the script later moved the day high at 43.26, up 2.47%. The company’s stock has a 5-day price change of -1.51% and 31.05% over the past three months. B shares are trading 5.58% year to date (YTD), with the 12-month market performance down to -7.37% lower. It has a 12-month low price of $27.93 and touched a high of $48.42 over the same period. B has an average intraday trading volume of 203.73K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.46%, 6.04%, and 22.56% respectively.
Institutional ownership of Barnes Group Inc. (NYSE: B) shares accounts for 89.70% of the company’s 50.92M shares outstanding. Mutual fund holders own 29.39%, while other institutional holders and individual stakeholders account for 58.36% and 13.33% respectively.
It has a market capitalization of $2.13B and a beta (3y monthly) value of 1.24. The stock’s trailing 12-month PE ratio is 84.90, while the earnings-per-share (ttm) stands at $0.51. The company has a PEG of 8.49 and a Quick Ratio of 1.50 with the debt-to-equity ratio at 0.44. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.12% over the week and 2.14% over the month.
Analysts forecast that Barnes Group Inc. (B) will achieve an EPS of $0.49 for the current quarter, $0.5 for the next quarter and $2.21 for 2023. The lowest estimate earnings-per-share for the quarter is $0.46 while analysts give the company a high EPS estimate of $0.51. Comparatively, EPS for the current quarter was $0.55 a year ago. Earnings per share for the fiscal year are expected to increase by 57.60%, and 10.85% over the next financial year. EPS should grow at an annualized rate of 10.00% over the next five years, compared to -4.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Barnes Group Inc. (B) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 3 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Alembic Global Advisors coverage for the Barnes Group Inc. (B) stock in a research note released on April 11, 2022 offered a Neutral rating with a price target of $42. Alembic Global Advisors was of a view on June 10, 2020 that the stock is Overweight, while UBS gave the stock Buy rating on January 15, 2020, issuing a price target of $60- $72. SunTrust on their part issued Hold rating on January 08, 2020.