Barnes Group, Inc. Plans Quarterly Dividend of $0.14 (B)
Barnes Group, Inc. (NYSE:B) declared a quarterly dividend on Friday, October 20th, RTT News reports. Shareholders of record on Wednesday, November 22nd will be given a dividend of 0.14 per share by the industrial products company on Friday, December 8th. This represents a $0.56 dividend on an annualized basis and a yield of 0.78%.
Barnes Group has raised its dividend payment by an average of 6.7% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Barnes Group has a payout ratio of 19.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Barnes Group to earn $3.08 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 18.2%.
Barnes Group (B) opened at 71.40 on Friday. Barnes Group has a 52 week low of $37.95 and a 52 week high of $73.84. The stock has a market cap of $3.84 billion, a P/E ratio of 24.97 and a beta of 1.45. The stock has a 50 day moving average price of $68.25 and a 200-day moving average price of $59.95.
Barnes Group (NYSE:B) last posted its quarterly earnings results on Friday, July 28th. The industrial products company reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.12. Barnes Group had a net margin of 11.69% and a return on equity of 13.02%. The firm had revenue of $364.49 million for the quarter, compared to analysts’ expectations of $337.69 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. On average, equities analysts anticipate that Barnes Group will post $2.90 EPS for the current fiscal year.
A number of equities research analysts have recently commented on the stock. ValuEngine cut shares of Barnes Group from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. BidaskClub upgraded shares of Barnes Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Oppenheimer Holdings, Inc. increased their price target on shares of Barnes Group from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Monday, July 31st. SunTrust Banks, Inc. reiterated a “hold” rating and set a $60.00 price target on shares of Barnes Group in a report on Thursday, October 12th. Finally, Deutsche Bank AG increased their price target on shares of Barnes Group from $65.00 to $70.00 and gave the company a “buy” rating in a report on Friday, September 8th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $65.75.
In related news, VP Marian Acker sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $60.38, for a total value of $362,280.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas O. Barnes sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $59.93, for a total transaction of $119,860.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,755 shares of company stock worth $528,361. Corporate insiders own 8.50% of the company’s stock.
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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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