Equities analysts expect that Barnes Group Inc. (NYSE:B – Get Rating) will post sales of $327.64 million for the current quarter, Zacks reports. Two analysts have provided estimates for Barnes Group’s earnings, with estimates ranging from $327.00 million to $328.28 million. Barnes Group posted sales of $321.16 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2%. The business is expected to issue its next earnings results on Monday, January 1st.
On average, analysts expect that Barnes Group will report full year sales of $1.34 billion for the current financial year, with estimates ranging from $1.34 billion to $1.35 billion. For the next financial year, analysts forecast that the company will report sales of $1.45 billion, with estimates ranging from $1.40 billion to $1.50 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Barnes Group.
Barnes Group (NYSE:B – Get Rating) last released its quarterly earnings results on Friday, April 29th. The industrial products company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Barnes Group had a net margin of 7.95% and a return on equity of 7.06%. The company had revenue of $312.80 million during the quarter, compared to the consensus estimate of $306.54 million. During the same period in the previous year, the business earned $0.38 earnings per share. The firm’s quarterly revenue was up 3.7% on a year-over-year basis.
In other news, SVP James C. Pelletier sold 1,619 shares of the business’s stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $46.50, for a total transaction of $75,283.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mylle H. Mangum sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $32.25, for a total transaction of $161,250.00. Following the sale, the director now directly owns 22,610 shares of the company’s stock, valued at $729,172.50. The disclosure for this sale can be found here. 5.10% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. UMB Bank N A MO bought a new stake in Barnes Group in the 4th quarter worth about $31,000. Point72 Hong Kong Ltd bought a new stake in Barnes Group in the 4th quarter worth about $34,000. First Horizon Advisors Inc. grew its position in shares of Barnes Group by 1,647.1% during the 4th quarter. First Horizon Advisors Inc. now owns 891 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 840 shares during the period. Eagle Bay Advisors LLC grew its position in shares of Barnes Group by 57.5% during the 4th quarter. Eagle Bay Advisors LLC now owns 967 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 353 shares during the period. Finally, Heritage Wealth Management LLC grew its position in shares of Barnes Group by 21.2% during the 3rd quarter. Heritage Wealth Management LLC now owns 1,816 shares of the industrial products company’s stock valued at $76,000 after acquiring an additional 318 shares during the period. 86.03% of the stock is owned by institutional investors and hedge funds.
NYSE:B traded up $0.87 during mid-day trading on Friday, reaching $33.66. The stock had a trading volume of 406,618 shares, compared to its average volume of 259,172. The stock has a 50-day simple moving average of $37.93 and a two-hundred day simple moving average of $42.89. The stock has a market capitalization of $1.71 billion, a PE ratio of 17.00, a P/E/G ratio of 1.42 and a beta of 1.16. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.43 and a quick ratio of 1.53. Barnes Group has a 12 month low of $31.08 and a 12 month high of $56.98.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Thursday, May 26th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, May 25th. This represents a $0.64 annualized dividend and a dividend yield of 1.90%. Barnes Group’s dividend payout ratio is currently 32.32%.
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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