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

Barnes Group Inc. (NYSE:B) declared a quarterly dividend on Monday, July 22nd, Wall Street Journal reports. Stockholders of record on Thursday, August 22nd will be paid a dividend of 0.16 per share by the industrial products company on Tuesday, September 10th. This represents a $0.64 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Thursday, August 22nd.

Barnes Group has a dividend payout ratio of 29.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Barnes Group to earn $2.13 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 30.0%.

Barnes Group Price Performance

Shares of NYSE B traded up $0.64 during mid-day trading on Monday, hitting $42.71. 219,780 shares of the stock traded hands, compared to its average volume of 313,999. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.41 and a quick ratio of 1.53. Barnes Group has a twelve month low of $18.79 and a twelve month high of $45.24. The company has a market cap of $2.17 billion, a PE ratio of 467.44, a price-to-earnings-growth ratio of 2.45 and a beta of 1.41. The firm has a 50 day simple moving average of $40.11 and a two-hundred day simple moving average of $36.78.

Barnes Group (NYSE:B) last released its quarterly earnings data on Friday, April 26th. The industrial products company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.03. Barnes Group had a return on equity of 5.92% and a net margin of 0.31%. The company had revenue of $430.64 million for the quarter, compared to the consensus estimate of $425.32 million. As a group, equities research analysts forecast that Barnes Group will post 1.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Oppenheimer raised their price objective on Barnes Group from $43.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, June 14th. DA Davidson lifted their target price on Barnes Group from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, June 13th.

About Barnes Group

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.