Barnes Group Inc. (NYSE:B) – Investment analysts at SunTrust Banks reduced their Q3 2018 earnings estimates for Barnes Group in a note issued to investors on Wednesday, October 17th. SunTrust Banks analyst M. Ciarmoli now forecasts that the industrial products company will post earnings of $0.80 per share for the quarter, down from their prior forecast of $0.81. SunTrust Banks has a “Hold” rating and a $63.00 price objective on the stock. SunTrust Banks also issued estimates for Barnes Group’s FY2018 earnings at $3.24 EPS, FY2019 earnings at $3.51 EPS and FY2020 earnings at $4.06 EPS.
Barnes Group (NYSE:B) last released its quarterly earnings results on Friday, July 27th. The industrial products company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. The business had revenue of $375.32 million for the quarter, compared to the consensus estimate of $383.00 million. Barnes Group had a net margin of 4.39% and a return on equity of 12.69%. Barnes Group’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.81 EPS.
Barnes Group stock opened at $60.73 on Friday. The firm has a market cap of $3.20 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 2.74 and a beta of 1.31. The company has a current ratio of 2.25, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. Barnes Group has a 1-year low of $52.42 and a 1-year high of $72.86.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Strs Ohio raised its holdings in Barnes Group by 46.7% in the 3rd quarter. Strs Ohio now owns 4,400 shares of the industrial products company’s stock worth $312,000 after acquiring an additional 1,400 shares during the period. Aperio Group LLC grew its position in Barnes Group by 9.1% in the 3rd quarter. Aperio Group LLC now owns 33,743 shares of the industrial products company’s stock worth $2,397,000 after purchasing an additional 2,823 shares during the last quarter. Ramsey Quantitative Systems grew its position in Barnes Group by 22.8% in the 3rd quarter. Ramsey Quantitative Systems now owns 6,303 shares of the industrial products company’s stock worth $448,000 after purchasing an additional 1,171 shares during the last quarter. Foundry Partners LLC grew its position in Barnes Group by 2.5% in the 3rd quarter. Foundry Partners LLC now owns 196,826 shares of the industrial products company’s stock worth $13,981,000 after purchasing an additional 4,758 shares during the last quarter. Finally, GHP Investment Advisors Inc. grew its position in Barnes Group by 15.4% in the 3rd quarter. GHP Investment Advisors Inc. now owns 45,976 shares of the industrial products company’s stock worth $3,266,000 after purchasing an additional 6,133 shares during the last quarter. Hedge funds and other institutional investors own 84.95% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Tuesday, November 27th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, November 26th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.05%. Barnes Group’s dividend payout ratio is currently 22.22%.
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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