Barnes Group Inc. (B) To Go Ex-Dividend on May 29th

Barnes Group Inc. (NYSE:B) declared a quarterly dividend on Friday, May 3rd, 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 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Wednesday, May 29th.

Barnes Group has a payout ratio of 29.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Barnes Group to earn $2.12 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 30.2%.

Barnes Group Trading Up 2.0 %

B opened at $40.86 on Monday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.41 and a quick ratio of 1.53. The company’s 50 day simple moving average is $37.00 and its two-hundred day simple moving average is $33.54. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 454.00, a price-to-earnings-growth ratio of 2.39 and a beta of 1.37. Barnes Group has a 1-year low of $18.79 and a 1-year high of $43.65.

Barnes Group (NYSE:B) last released its quarterly earnings results on Friday, April 26th. The industrial products company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. Barnes Group had a return on equity of 5.92% and a net margin of 0.31%. The business had revenue of $430.64 million during the quarter, compared to analysts’ expectations of $425.32 million. Analysts expect that Barnes Group will post 1.71 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. DA Davidson upgraded shares of Barnes Group from a “neutral” rating to a “buy” rating and upped their target price for the company from $35.00 to $45.00 in a report on Thursday, April 18th. StockNews.com raised shares of Barnes Group from a “sell” rating to a “hold” rating in a report on Monday, February 19th. Finally, Oppenheimer upped their target price on Barnes Group from $36.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th.

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.