Barnes Group Inc. (NYSE: B) stock jumped 2.30% on Friday to $26.24 against a previous-day closing price of $25.65. With 0.54 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.4 million shares. During the session, the Specialty Industrial Machinery company that operates in wider Industrials sector, reached to the highest price of $26.28 whereas the lowest price it dropped to was $25.66. The 52-week range on B shows that it touched its highest point at $47.36 and its lowest point at $18.79 during that stretch. It currently has a 1-year price target of $26.00. With its current market cap of 1.33 billion, B has annualized dividend of $0.64 while the current yield stands at 2.44%. Beta for the stock currently stands at 1.29.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of B was up-trending over the past week, with a rise of 8.12%, but this was down by -20.44% over a month. Three-month performance dropped to -31.36% while six-month performance fell -36.14%. The stock lost -32.82% in the past year, while it has lost -35.76% so far this year. A look at the trailing 12-month EPS for B yields 0.47 with Next year EPS estimates of 1.74. For the next quarter, that number is 0.35. This implies an EPS growth rate of -19.51% for this year and 9.37% for next year. EPS is expected to grow by 10.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -24.67%.
Float and Shares Shorts:
At present, 50.59 million B shares are outstanding with a float of 47.54 million shares on hand for trading. On Oct 30, 2023, short shares totaled 0.43 million, which was 0.84% higher than short shares on Sep 28, 2023. In addition to Mr. Thomas J. Hook as the firm’s President, CEO & Director, Ms. Julie K. Streich serves as its Senior VP of Finance & CFO.
Institutional Ownership:
Through their ownership of 88.65% of B’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 55.37% of B, in contrast to 33.73% held by mutual funds. Shares owned by individuals account for 14.10%. As the largest shareholder in B with 14.13% of the stake, BlackRock Fund Advisors holds 7,153,548 shares worth 7,153,548. A second-largest stockholder of B, The Vanguard Group, Inc., holds 5,385,337 shares, controlling over 10.64% of the firm’s shares. Dimensional Fund Advisors LP is the third largest shareholder in B, holding 3,457,170 shares or 6.83% stake. With a 6.73% stake in B, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 3,405,980 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.97% of B stock, is the second-largest Mutual Fund holder. It holds 1,501,515 shares valued at 31.22 million. Delaware Small Cap Value Fund holds 2.55% of the stake in B, owning 1,288,300 shares worth 26.78 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for B since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With B analysts setting a high price target of $30.00 and a low target of $23.00, the average target price over the next 12 months is $26.00. Based on these targets, B could surge 14.33% to reach the target high and fall by -12.35% to reach the target low. Reaching the average price target will result in a decline of -0.91% from current levels.
Summary of Insider Activity:
Insiders traded B stock several times over the past three months with 6 Buys and 1 Sells. In these transactions, 127,052 shares were bought while 296 shares were sold. The number of buy transactions has increased to 42 while that of sell transactions has risen to 16 over the past year. The total number of shares bought during that period was 325,919 while 19,369 shares were sold.
