Barnes Group Inc. (NYSE:B) announced a quarterly dividend on Thursday, October 18th, RTT News reports. Shareholders of record on Tuesday, November 27th will be paid a dividend of 0.16 per share by the industrial products company on Monday, December 10th. This represents a $0.64 dividend on an annualized basis and a yield of 1.05%.
Barnes Group has raised its dividend by an average of 6.9% per year over the last three years and has increased its dividend every year for the last 5 years. Barnes Group has a payout ratio of 19.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Barnes Group to earn $3.51 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 18.2%.
NYSE B opened at $60.79 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.25 and a debt-to-equity ratio of 0.47. The company has a market cap of $3.20 billion, a PE ratio of 20.94, a PEG ratio of 2.74 and a beta of 1.31. Barnes Group has a one year low of $52.42 and a one year high of $72.86.
Barnes Group (NYSE:B) last posted its earnings results on Friday, July 27th. The industrial products company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. The firm had revenue of $375.32 million during the quarter, compared to the consensus estimate of $383.00 million. Barnes Group had a return on equity of 12.69% and a net margin of 4.39%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.81 EPS. On average, sell-side analysts expect that Barnes Group will post 3.26 EPS for the current year.
B has been the subject of a number of research reports. SunTrust Banks reiterated a “hold” rating and set a $63.00 target price on shares of Barnes Group in a research report on Friday, July 27th. Robert W. Baird increased their target price on Barnes Group from $58.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, July 27th. UBS Group initiated coverage on Barnes Group in a research report on Wednesday, August 15th. They set a “buy” rating and a $80.00 target price for the company. ValuEngine upgraded Barnes Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 28th. Finally, Oppenheimer increased their target price on Barnes Group from $75.00 to $82.00 and gave the company an “outperform” rating in a research report on Tuesday, September 25th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Barnes Group currently has an average rating of “Hold” and a consensus price target of $72.33.
About Barnes Group
Barnes Group Inc operates as an industrial and aerospace manufacturer, and service provider in the United States and internationally. Its Industrial segment offers precision components, products, and systems for applications serving various customers in end-markets, such as transportation, industrial equipment, consumer products, packaging, electronics, medical devices, and energy.
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