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

Barnes Group Inc. (NYSE:B – Get Rating) declared a quarterly dividend on Friday, May 5th, Zacks reports. Stockholders of record on Thursday, May 25th will be paid a dividend of 0.16 per share by the industrial products company on Friday, June 9th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Wednesday, May 24th.

Barnes Group has a dividend payout ratio of 25.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Barnes Group to earn $2.53 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 25.3%.

Barnes Group Trading Down 0.1 %

NYSE B opened at $41.09 on Monday. Barnes Group has a 1-year low of $27.93 and a 1-year high of $47.36. The company has a current ratio of 2.41, a quick ratio of 1.47 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average of $39.89 and a 200-day moving average of $41.04. The firm has a market cap of $2.08 billion, a PE ratio of 373.55, a price-to-earnings-growth ratio of 1.87 and a beta of 1.23.

Barnes Group (NYSE:B – Get Rating) last released its earnings results on Thursday, April 27th. The industrial products company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.08. Barnes Group had a return on equity of 7.94% and a net margin of 0.48%. The company had revenue of $335.40 million during the quarter, compared to analyst estimates of $312.91 million. During the same quarter in the previous year, the company posted $0.41 EPS. Barnes Group’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, sell-side analysts forecast that Barnes Group will post 2.2 EPS for the current year.

Analyst Upgrades and Downgrades

B has been the topic of a number of research analyst reports. Truist Financial reduced their price target on Barnes Group from $40.00 to $37.00 in a report on Monday, April 24th. StockNews.com began coverage on Barnes Group in a report on Thursday. They set a “buy” rating on the stock.

Insiders Place Their Bets

In other news, Director Neal J. Keating bought 2,500 shares of Barnes Group stock in a transaction on Tuesday, May 2nd. The shares were purchased at an average price of $41.59 per share, for a total transaction of $103,975.00. Following the acquisition, the director now owns 4,872 shares of the company’s stock, valued at $202,626.48. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.22% of the company’s stock.

Institutional Trading of Barnes Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in shares of Barnes Group by 35.1% in the 1st quarter. JPMorgan Chase & Co. now owns 97,024 shares of the industrial products company’s stock worth $3,908,000 after buying an additional 25,183 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Barnes Group by 20.1% in the 1st quarter. Thrivent Financial for Lutherans now owns 1,646,791 shares of the industrial products company’s stock valued at $66,333,000 after acquiring an additional 275,574 shares in the last quarter. Susquehanna International Group LLP lifted its position in Barnes Group by 27.2% in the 1st quarter. Susquehanna International Group LLP now owns 28,621 shares of the industrial products company’s stock valued at $1,153,000 after acquiring an additional 6,121 shares in the last quarter. Jane Street Group LLC bought a new position in Barnes Group in the 1st quarter valued at approximately $218,000. Finally, State Street Corp lifted its position in Barnes Group by 0.8% in the 1st quarter. State Street Corp now owns 1,987,935 shares of the industrial products company’s stock valued at $80,074,000 after acquiring an additional 15,801 shares in the last quarter. Hedge funds and other institutional investors own 86.16% of the company’s stock.

Barnes Group Company Profile

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Barnes Group, Inc engages in the provision of engineered products, industrial technologies, and solutions. It operates through the Industrial and Aerospace segments. The Industrial segment includes molding solutions, force and motion control, and the automation and engineered components business units.