Barnes Group (NYSE:B) Hits New 1-Year Low After Earnings Miss

Barnes Group Inc. (NYSE:B)’s stock price hit a new 52-week low on Saturday following a weaker than expected earnings announcement. The company traded as low as $18.88 and last traded at $19.46, with a volume of 10656215 shares. The stock had previously closed at $47.46.

The industrial products company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). Barnes Group had a positive return on equity of 4.84% and a negative net margin of 2.46%. During the same period in the prior year, the firm earned $0.19 earnings per share. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Barnes Group in a research report on Monday, May 5th. They issued a “sell” rating for the company.

Institutional Investors Weigh In On Barnes Group

A number of institutional investors and hedge funds have recently bought and sold shares of B. Patriot Financial Group Insurance Agency LLC increased its position in shares of Barnes Group by 2.1% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 559,772 shares of the industrial products company’s stock valued at $26,455,000 after purchasing an additional 11,684 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Barnes Group by 15.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 92,185 shares of the industrial products company’s stock valued at $3,725,000 after purchasing an additional 12,156 shares during the last quarter. Barclays PLC increased its position in shares of Barnes Group by 9.3% during the 3rd quarter. Barclays PLC now owns 132,462 shares of the industrial products company’s stock valued at $5,353,000 after purchasing an additional 11,279 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Barnes Group in the 4th quarter worth about $981,000. Finally, Principal Financial Group Inc. increased its holdings in Barnes Group by 3.2% in the 4th quarter. Principal Financial Group Inc. now owns 222,351 shares of the industrial products company’s stock worth $10,508,000 after acquiring an additional 6,906 shares during the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barnes Group Trading Down 59.0%

The firm has a fifty day moving average of $46.92 and a two-hundred day moving average of $47.07. The company has a market cap of $991.29 million, a PE ratio of -25.27 and a beta of 1.32. The company has a current ratio of 2.28, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87.

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.