Barnes Group Inc. (B) Declares Quarterly Dividend of $0.13
Barnes Group Inc. (NYSE:B) announced a quarterly dividend on Friday, October 14th. Shareholders of record on Wednesday, November 23rd will be given a dividend of 0.13 per share on Thursday, December 8th. This represents a $0.52 annualized dividend and a dividend yield of 1.35%.
Barnes Group (NYSE:B) traded up 1.53% during mid-day trading on Friday, hitting $39.23. 16,753 shares of the company’s stock traded hands. Barnes Group has a one year low of $30.07 and a one year high of $41.86. The stock has a market cap of $2.11 billion, a PE ratio of 17.92 and a beta of 1.47. The firm’s 50-day moving average price is $40.04 and its 200-day moving average price is $36.58.
Barnes Group (NYSE:B) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.61 by $0.02. Barnes Group had a return on equity of 11.69% and a net margin of 10.18%. The business had revenue of $307 million for the quarter, compared to analyst estimates of $308.71 million. During the same quarter in the previous year, the firm earned $0.62 EPS. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, analysts forecast that Barnes Group will post $2.51 EPS for the current fiscal year.
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Several brokerages recently issued reports on B. Zacks Investment Research upgraded shares of Barnes Group from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Wednesday, September 28th. Jefferies Group boosted their price objective on shares of Barnes Group from $41.00 to $44.00 and gave the company a “buy” rating in a report on Monday, August 1st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Barnes Group presently has a consensus rating of “Buy” and an average target price of $40.17.
In other news, Director Gary G. Benanav sold 9,901 shares of the business’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $41.51, for a total transaction of $410,990.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas O. Barnes sold 730 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $41.46, for a total value of $30,265.80. The disclosure for this sale can be found here. 7.80% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in B. Teachers Advisors Inc. boosted its stake in Barnes Group by 9.9% in the second quarter. Teachers Advisors Inc. now owns 446,871 shares of the company’s stock valued at $14,800,000 after buying an additional 40,134 shares during the last quarter. Elk Creek Partners LLC boosted its stake in Barnes Group by 12.3% in the second quarter. Elk Creek Partners LLC now owns 362,439 shares of the company’s stock valued at $7,023,000 after buying an additional 39,709 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Barnes Group by 894.4% in the second quarter. Thrivent Financial for Lutherans now owns 230,790 shares of the company’s stock valued at $7,643,000 after buying an additional 207,580 shares during the last quarter. BlackRock Investment Management LLC boosted its stake in Barnes Group by 0.9% in the second quarter. BlackRock Investment Management LLC now owns 230,011 shares of the company’s stock valued at $7,618,000 after buying an additional 2,073 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in Barnes Group by 4.1% in the second quarter. Parametric Portfolio Associates LLC now owns 222,769 shares of the company’s stock valued at $7,378,000 after buying an additional 8,691 shares during the last quarter. 83.55% of the stock is owned by institutional investors and hedge funds.
Barnes Group Company Profile
Barnes Group Inc is an industrial and aerospace manufacturer and service provider, serving a range of end-markets and customers. The Company’s engineered products, industrial technologies, and solutions are used in applications that provide transportation, manufacturing, healthcare products and technology to the world.
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