Barnes Group Inc. (NYSE:B) announced a quarterly dividend on Friday, October 14th. Stockholders of record on Wednesday, November 23rd will be paid a dividend of 0.13 per share on Thursday, December 8th. This represents a $0.52 annualized dividend and a dividend yield of 1.34%.
Shares of Barnes Group (NYSE:B) opened at 38.91 on Monday. Barnes Group has a 12 month low of $30.07 and a 12 month high of $41.86. The stock has a 50 day moving average price of $39.97 and a 200 day moving average price of $36.61. The firm has a market cap of $2.10 billion, a PE ratio of 17.78 and a beta of 1.47.
Barnes Group (NYSE:B) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. Barnes Group had a net margin of 10.18% and a return on equity of 11.69%. The company earned $307 million during the quarter, compared to analyst estimates of $308.71 million. During the same quarter in the previous year, the business earned $0.62 EPS. The firm’s revenue was down 2.6% on a year-over-year basis. On average, equities research analysts expect that Barnes Group will post $2.51 EPS for the current year.
B has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Barnes Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th. Jefferies Group upped their target price on shares of Barnes Group from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, August 1st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $40.17.
In other news, SVP Christopher J. Stephens sold 23,039 shares of the company’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $38.76, for a total value of $892,991.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Dawn N. Edwards sold 5,700 shares of the company’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $40.24, for a total transaction of $229,368.00. The disclosure for this sale can be found here. Insiders own 7.80% of the company’s stock.
Large investors have recently modified their holdings of the stock. Arizona State Retirement System boosted its stake in shares of Barnes Group by 0.8% in the second quarter. Arizona State Retirement System now owns 26,226 shares of the company’s stock worth $869,000 after buying an additional 200 shares during the last quarter. Sei Investments Co. boosted its position in Barnes Group by 1.5% in the second quarter. Sei Investments Co. now owns 72,124 shares of the company’s stock valued at $2,389,000 after buying an additional 1,055 shares in the last quarter. US Bancorp DE boosted its position in Barnes Group by 8.2% in the second quarter. US Bancorp DE now owns 24,046 shares of the company’s stock valued at $796,000 after buying an additional 1,831 shares in the last quarter. BlackRock Group LTD boosted its position in Barnes Group by 3.0% in the second quarter. BlackRock Group LTD now owns 68,051 shares of the company’s stock valued at $2,253,000 after buying an additional 1,955 shares in the last quarter. Finally, BlackRock Investment Management LLC boosted its position in Barnes Group by 0.9% in the second quarter. BlackRock Investment Management LLC now owns 230,011 shares of the company’s stock valued at $7,618,000 after buying an additional 2,073 shares in the last quarter. 83.55% of the stock is currently owned by institutional investors.
About Barnes Group
Barnes Group Inc is an industrial and aerospace manufacturer and service provider, serving a range of end-markets and customers. The Company’s engineered products, industrial technologies, and solutions are used in applications that provide transportation, manufacturing, healthcare products and technology to the world.
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