Barnes Group, Inc. (B) To Go Ex-Dividend on November 21st
Barnes Group, Inc. (NYSE:B) announced a quarterly dividend on Friday, October 20th, RTT News reports. Stockholders of record on Wednesday, November 22nd will be paid a dividend of 0.14 per share by the industrial products company on Friday, December 8th. This represents a $0.56 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Tuesday, November 21st.
Barnes Group has raised its dividend payment by an average of 6.7% annually over the last three years and has raised its dividend every year for the last 4 years. Barnes Group has a dividend payout ratio of 19.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Barnes Group to earn $3.03 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 18.5%.
Shares of Barnes Group (B) opened at $63.39 on Monday. Barnes Group has a fifty-two week low of $43.97 and a fifty-two week high of $72.87. The firm has a market capitalization of $3,398.37, a P/E ratio of 22.24, a PEG ratio of 2.22 and a beta of 1.37. The company has a current ratio of 2.20, a quick ratio of 1.45 and a debt-to-equity ratio of 0.37.
Barnes Group (NYSE:B) last announced its quarterly earnings data on Friday, October 27th. The industrial products company reported $0.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.03). Barnes Group had a return on equity of 12.44% and a net margin of 11.20%. The firm had revenue of $357.16 million for the quarter, compared to analyst estimates of $351.01 million. During the same period in the previous year, the business posted $0.71 EPS. Barnes Group’s revenue for the quarter was up 14.6% compared to the same quarter last year. research analysts expect that Barnes Group will post 2.85 earnings per share for the current fiscal year.
B has been the subject of several analyst reports. Deutsche Bank AG raised their target price on Barnes Group from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, September 8th. ValuEngine upgraded Barnes Group from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub downgraded Barnes Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Zacks Investment Research downgraded Barnes Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Finally, Robert W. Baird reiterated a “hold” rating and issued a $65.00 price objective on shares of Barnes Group in a research report on Sunday, October 29th. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Barnes Group has a consensus rating of “Buy” and a consensus target price of $65.60.
In other news, Director Thomas O. Barnes sold 1,500 shares of Barnes Group stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $66.36, for a total value of $99,540.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Christopher J. Stephens sold 15,700 shares of Barnes Group stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $63.53, for a total value of $997,421.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,955 shares of company stock valued at $1,143,182. 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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