Barnes Group Inc. (B) Plans $0.13 Quarterly Dividend
Barnes Group Inc. (NYSE:B) declared a quarterly dividend on Friday, October 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.34%.
Barnes Group (NYSE:B) opened at 38.91 on Monday. Barnes Group has a 12-month low of $30.07 and a 12-month high of $41.86. The firm has a market capitalization of $2.10 billion, a PE ratio of 17.78 and a beta of 1.47. The stock has a 50 day moving average price of $39.97 and a 200-day moving average price of $36.61.
Barnes Group (NYSE:B) last posted its earnings results on Friday, July 29th. The company reported $0.63 EPS for the quarter, beating 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 firm had revenue of $307 million for the quarter, compared to analysts’ expectations of $308.71 million. During the same period last year, the firm earned $0.62 EPS. The firm’s revenue was down 2.6% compared to the same quarter last year. On average, equities research analysts forecast that Barnes Group will post $2.51 EPS for the current year.
Several analysts recently commented on B shares. Zacks Investment Research upgraded Barnes Group from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Wednesday, September 28th. Jefferies Group raised their target price on Barnes Group from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, August 1st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Barnes Group currently has a consensus rating of “Buy” and a consensus price target of $40.17.
In other news, SVP Christopher J. Stephens sold 23,039 shares of the firm’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $38.76, for a total transaction of $892,991.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Dawn N. Edwards sold 5,700 shares of the firm’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $40.24, for a total value of $229,368.00. The disclosure for this sale can be found here. Company insiders own 7.80% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Arizona State Retirement System raised its stake in Barnes Group by 0.8% in the second quarter. Arizona State Retirement System now owns 26,226 shares of the company’s stock valued at $869,000 after buying an additional 200 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in shares of Barnes Group during the second quarter valued at approximately $2,991,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Barnes Group during the second quarter valued at approximately $3,758,000. Parametric Portfolio Associates LLC boosted its stake in shares of 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 period. Finally, Elk Creek Partners LLC boosted its stake in shares of 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 period. 83.55% of the stock is owned by institutional investors and hedge funds.
About Barnes Group
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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