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

Barnes Group Inc. (NYSE:B) declared a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Stockholders of record on Wednesday, May 29th will be given a dividend of 0.16 per share by the industrial products company on Monday, June 10th. This represents a $0.64 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Wednesday, May 29th.

Barnes Group Stock Performance

Shares of NYSE:B traded up $0.72 during trading on Monday, hitting $37.26. 128,348 shares of the company traded hands, compared to its average volume of 318,536. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 406.00, a PEG ratio of 2.15 and a beta of 1.37. The business’s fifty day moving average is $35.99 and its 200-day moving average is $32.04. Barnes Group has a one year low of $18.79 and a one year high of $43.65. The company has a quick ratio of 1.53, a current ratio of 2.41 and a debt-to-equity ratio of 0.97.

Barnes Group (NYSE:B) last released its earnings results on Friday, February 16th. The industrial products company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. The firm had revenue of $415.50 million during the quarter, compared to the consensus estimate of $420.47 million. Barnes Group had a return on equity of 5.92% and a net margin of 0.31%. The firm’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 earnings per share. As a group, equities analysts predict that Barnes Group will post 1.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on B shares. Truist Financial boosted their target price on shares of Barnes Group from $23.00 to $34.00 and gave the company a “hold” rating in a research note on Wednesday, January 10th. DA Davidson raised shares of Barnes Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $35.00 to $45.00 in a research note on Thursday, April 18th. Oppenheimer upped their price target on shares of Barnes Group from $36.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Finally, StockNews.com raised shares of Barnes Group from a “sell” rating to a “hold” rating in a research note on Monday, February 19th.

Barnes Group Company Profile

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