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

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

The industrial products company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 earnings per share.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Barnes Group in a 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. Barclays PLC lifted its holdings in shares of Barnes Group by 9.3% during the third 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. JPMorgan Chase & Co. raised its stake in 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 period. KBC Group NV boosted its position in shares of Barnes Group by 52.4% in the fourth quarter. KBC Group NV now owns 2,186 shares of the industrial products company’s stock worth $103,000 after buying an additional 752 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its stake in Barnes Group by 2.1% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 559,772 shares of the industrial products company’s stock worth $26,455,000 after acquiring an additional 11,684 shares in the last quarter. Finally, Strategic Financial Concepts LLC grew its stake in Barnes Group by 4,626.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 384,649 shares of the industrial products company’s stock valued at $18,179,000 after acquiring an additional 376,510 shares in the last quarter. 90.82% of the stock is owned by institutional investors and hedge funds.

Barnes Group Stock Down 59.0 %

The firm has a market capitalization of $991.29 million, a PE ratio of -25.27 and a beta of 1.32. The company has a quick ratio of 1.35, a current ratio of 2.28 and a debt-to-equity ratio of 0.87. The business’s 50-day moving average price is $46.92 and its 200-day moving average price is $47.07.

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.