Barnes Group Inc. (B) To Go Ex-Dividend on August 22nd

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 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend 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 Up 1.9 %

B opened at $38.84 on Tuesday. Barnes Group has a 12 month low of $18.79 and a 12 month high of $45.24. The company has a market cap of $1.97 billion, a PE ratio of 431.56, a price-to-earnings-growth ratio of 2.38 and a beta of 1.41. The company has a current ratio of 2.24, a quick ratio of 1.33 and a debt-to-equity ratio of 0.90. The company has a 50 day moving average of $40.01 and a 200 day moving average of $37.90.

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on B. Oppenheimer increased their price objective on Barnes Group from $43.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. DA Davidson boosted their price target on shares of Barnes Group from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Truist Financial raised their price objective on shares of Barnes Group from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Monday, July 29th.

About Barnes Group

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.