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

Barnes Group Inc. (NYSE:B) announced a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Shareholders of record on Wednesday, May 29th will be given a dividend of 0.16 per share by the industrial products company on Monday, June 10th. This represents a $0.64 annualized dividend and a yield of 1.72%. The ex-dividend date is Wednesday, May 29th.

Barnes Group Stock Up 2.0 %

Shares of B traded up $0.72 during mid-day trading on Monday, reaching $37.26. The company had a trading volume of 128,348 shares, compared to its average volume of 318,536. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.53 and a current ratio of 2.41. The firm has a 50-day moving average price of $35.99 and a 200 day moving average price of $32.04. Barnes Group has a 52 week low of $18.79 and a 52 week high of $43.65. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 406.00, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37.

Barnes Group (NYSE:B) last issued its quarterly earnings results on Friday, February 16th. The industrial products company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. The firm had revenue of $415.50 million for the quarter, compared to analysts’ expectations of $420.47 million. Barnes Group had a return on equity of 5.92% and a net margin of 0.31%. The business’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 EPS. On average, sell-side analysts forecast that Barnes Group will post 1.7 EPS for the current year.

Wall Street Analysts Forecast Growth

B has been the subject of a number of research reports. StockNews.com upgraded shares of Barnes Group from a “sell” rating to a “hold” rating in a research note on Monday, February 19th. Oppenheimer boosted their target price on shares of Barnes Group from $36.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. DA Davidson upgraded shares of Barnes Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $35.00 to $45.00 in a research note on Thursday, April 18th. Finally, Truist Financial boosted their target price on shares of Barnes Group from $23.00 to $34.00 and gave the company a “hold” rating in a research note on Wednesday, January 10th.

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.