Barnes Group Inc. (NYSE:B) Declares $0.16 Quarterly Dividend

Barnes Group Inc. (NYSE:BGet Rating) declared a quarterly dividend on Monday, May 9th, Wall Street Journal reports. Shareholders of record on Thursday, May 26th will be given a dividend of 0.16 per share by the industrial products company on Friday, June 10th. This represents a $0.64 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Wednesday, May 25th.

Barnes Group has raised its dividend by an average of 1.1% annually over the last three years. Barnes Group has a payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Barnes Group to earn $2.75 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 23.3%.

Barnes Group stock traded up $0.22 on Monday, reaching $32.95. 287,648 shares of the stock were exchanged, compared to its average volume of 212,737. The stock has a market cap of $1.67 billion, a PE ratio of 16.63, a PEG ratio of 1.49 and a beta of 1.16. The company has a current ratio of 2.43, a quick ratio of 1.53 and a debt-to-equity ratio of 0.41. Barnes Group has a twelve month low of $32.32 and a twelve month high of $56.98. The firm has a fifty day moving average price of $39.06 and a two-hundred day moving average price of $43.22.

Barnes Group (NYSE:BGet Rating) last released its earnings results on Friday, April 29th. The industrial products company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The firm had revenue of $312.80 million during the quarter, compared to analyst estimates of $306.54 million. Barnes Group had a net margin of 7.95% and a return on equity of 7.06%. The business’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 EPS. Equities analysts anticipate that Barnes Group will post 2.2 EPS for the current fiscal year.

In related news, SVP James C. Pelletier sold 1,619 shares of the stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $46.50, for a total value of $75,283.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.10% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Advisor Group Holdings Inc. grew its stake in Barnes Group by 15.0% during the first quarter. Advisor Group Holdings Inc. now owns 4,191 shares of the industrial products company’s stock worth $168,000 after buying an additional 546 shares during the last quarter. BlackRock Inc. grew its stake in Barnes Group by 2.8% during the fourth quarter. BlackRock Inc. now owns 7,394,143 shares of the industrial products company’s stock worth $344,493,000 after buying an additional 202,363 shares during the last quarter. Vident Investment Advisory LLC bought a new stake in Barnes Group during the fourth quarter worth about $954,000. Wells Fargo & Company MN grew its stake in Barnes Group by 19.1% during the fourth quarter. Wells Fargo & Company MN now owns 116,647 shares of the industrial products company’s stock worth $5,434,000 after buying an additional 18,685 shares during the last quarter. Finally, California State Teachers Retirement System grew its stake in Barnes Group by 2.0% during the fourth quarter. California State Teachers Retirement System now owns 66,390 shares of the industrial products company’s stock worth $3,093,000 after buying an additional 1,296 shares during the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on B shares. Alembic Global Advisors lowered shares of Barnes Group from an “overweight” rating to a “neutral” rating and set a $42.00 target price for the company. in a research report on Monday, April 11th. StockNews.com initiated coverage on shares of Barnes Group in a research report on Thursday, March 31st. They set a “buy” rating for the company. Truist Financial cut their price objective on shares of Barnes Group from $48.00 to $41.00 and set a “hold” rating for the company in a research report on Tuesday, April 19th. Finally, Zacks Investment Research raised shares of Barnes Group from a “sell” rating to a “hold” rating and set a $39.00 price objective for the company in a research report on Friday, April 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Barnes Group currently has a consensus rating of “Hold” and a consensus target price of $48.83.

Barnes Group Company Profile (Get Rating)

Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. It operates in 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.

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Dividend History for Barnes Group (NYSE:B)

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