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

Barnes Group Inc. (NYSE:B) declared a quarterly dividend on Thursday, October 12th, Zacks reports. Shareholders of record on Wednesday, November 22nd will be given a dividend of 0.16 per share by the industrial products company on Friday, December 8th. This represents a $0.64 annualized dividend and a yield of 2.44%. The ex-dividend date is Tuesday, November 21st.

Barnes Group has a payout ratio of 36.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Barnes Group to earn $1.95 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 32.8%.

Barnes Group Price Performance

Shares of NYSE B opened at $26.24 on Monday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.40 and a current ratio of 2.37. The company has a market cap of $1.33 billion, a PE ratio of 55.83, a P/E/G ratio of 1.64 and a beta of 1.23. The business has a 50-day simple moving average of $30.36 and a two-hundred day simple moving average of $36.80. Barnes Group has a fifty-two week low of $18.79 and a fifty-two week high of $47.36.

Barnes Group (NYSE:B) last released its earnings results on Friday, October 27th. The industrial products company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.32). Barnes Group had a return on equity of 6.64% and a net margin of 1.81%. The firm had revenue of $360.99 million for the quarter, compared to analyst estimates of $357.17 million. As a group, equities analysts expect that Barnes Group will post 1.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

B has been the subject of a number of research reports. Oppenheimer decreased their target price on Barnes Group from $48.00 to $30.00 and set an “outperform” rating for the company in a report on Monday, October 30th. StockNews.com cut Barnes Group from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Finally, Truist Financial reduced their price target on Barnes Group from $40.00 to $37.00 and set a “hold” rating for the company in a research report on Friday, October 20th.

Insider Activity

In other Barnes Group news, Director Hans-Peter Manner acquired 50,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was acquired at an average cost of $22.78 per share, for a total transaction of $1,139,000.00. Following the completion of the transaction, the director now directly owns 66,079 shares of the company’s stock, valued at $1,505,279.62. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Jay B. Knoll acquired 4,500 shares of the stock in a transaction on Friday, November 3rd. The shares were bought at an average price of $22.60 per share, with a total value of $101,700.00. Following the completion of the purchase, the senior vice president now owns 21,363 shares of the company’s stock, valued at approximately $482,803.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hans-Peter Manner acquired 50,000 shares of the stock in a transaction on Tuesday, November 7th. The shares were bought at an average cost of $22.78 per share, for a total transaction of $1,139,000.00. Following the purchase, the director now directly owns 66,079 shares of the company’s stock, valued at approximately $1,505,279.62. The disclosure for this purchase can be found here. Insiders acquired 77,592 shares of company stock worth $1,723,540 over the last three months. 5.22% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Barnes Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in B. Lazard Asset Management LLC acquired a new position in shares of Barnes Group in the 2nd quarter valued at $51,000. Tower Research Capital LLC TRC lifted its stake in Barnes Group by 275.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,715 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 1,258 shares in the last quarter. Money Concepts Capital Corp acquired a new position in Barnes Group during the 4th quarter worth about $96,000. Captrust Financial Advisors lifted its stake in Barnes Group by 45.6% during the 1st quarter. Captrust Financial Advisors now owns 3,048 shares of the industrial products company’s stock worth $122,000 after acquiring an additional 954 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY lifted its stake in Barnes Group by 9.9% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 3,164 shares of the industrial products company’s stock worth $129,000 after acquiring an additional 286 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Barnes Group Company Profile

Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. It operates in 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.