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

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Barnes Group Inc. (NYSE:B) declared a quarterly dividend on Friday, February 14th, Zacks reports. Stockholders of record on Thursday, February 27th will be given a dividend of 0.16 per share by the industrial products company on Tuesday, March 10th. This represents a $0.64 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Wednesday, February 26th.

Barnes Group has raised its dividend payment by an average of 5.2% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Barnes Group has a payout ratio of 18.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Barnes Group to earn $3.78 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 16.9%.

Barnes Group stock opened at $66.28 on Monday. The stock has a market cap of $3.36 billion, a P/E ratio of 21.59, a PEG ratio of 2.03 and a beta of 1.41. Barnes Group has a fifty-two week low of $42.39 and a fifty-two week high of $68.60. The firm’s fifty day moving average price is $64.78 and its 200-day moving average price is $56.93. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.55 and a current ratio of 2.23.

Barnes Group (NYSE:B) last released its earnings results on Friday, February 21st. The industrial products company reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.02. The business had revenue of $370.20 million for the quarter, compared to analysts’ expectations of $375.93 million. Barnes Group had a return on equity of 13.47% and a net margin of 10.62%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 earnings per share. Sell-side analysts predict that Barnes Group will post 3.27 earnings per share for the current year.

A number of research firms recently commented on B. Sidoti increased their target price on Barnes Group from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Wells Fargo & Co reissued an “equal weight” rating on shares of Barnes Group in a research note on Tuesday, January 21st. Imperial Capital increased their target price on Barnes Group from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Monday, February 10th. SunTrust Banks raised Barnes Group from a “sell” rating to a “hold” rating and increased their target price for the company from $49.00 to $57.00 in a research note on Wednesday, January 8th. Finally, Citigroup increased their target price on Barnes Group from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $59.30.

Barnes Group Company Profile

Barnes Group Inc operates as an industrial and aerospace manufacturer, and service provider in the United States and internationally. Its Industrial segment offers precision components, products, and systems for applications serving various customers in end-markets, such as transportation, industrial equipment, automation, personal care, packaging, electronics, and medical devices.

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Dividend History for Barnes Group (NYSE:B)

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