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

Barnes Group Inc. (NYSE:B) declared a quarterly dividend on Friday, July 19th, Wall Street Journal reports. Stockholders of record on Thursday, August 22nd will be given a dividend of 0.16 per share by the industrial products company on Tuesday, September 10th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Thursday, August 22nd.

Barnes Group has a payout ratio of 30.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Barnes Group to earn $2.10 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 30.5%.

Barnes Group Stock Down 1.8 %

B opened at $38.11 on Wednesday. Barnes Group has a 1 year low of $18.79 and a 1 year high of $45.24. The firm has a 50 day moving average price of $40.02 and a 200 day moving average price of $37.93. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.33 and a current ratio of 2.24. The company has a market cap of $1.93 billion, a PE ratio of 423.44, a price-to-earnings-growth ratio of 2.38 and a beta of 1.41.

Barnes Group (NYSE:B) last released its quarterly earnings data on Friday, July 26th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). Barnes Group had a positive return on equity of 5.21% and a negative net margin of 3.74%. The business had revenue of $382.23 million during the quarter, compared to analyst estimates of $398.80 million. Sell-side analysts expect that Barnes Group will post 1.64 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on B. Truist Financial raised their price objective on Barnes Group from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Monday, July 29th. DA Davidson raised their target price on Barnes Group from $48.00 to $52.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Oppenheimer boosted their price target on Barnes Group from $43.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th.

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.