Barnes Group Inc. (NYSE:B) declared a quarterly dividend on Thursday, July 18th, RTT News reports. Shareholders of record on Monday, August 26th will be paid 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 1.41%. The ex-dividend date of this dividend is Friday, August 23rd.
Barnes Group has raised its dividend payment by an average of 8.9% per year over the last three years and has increased its dividend every year for the last 6 years. Barnes Group has a payout ratio of 19.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Barnes Group to earn $3.42 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 18.7%.
Shares of B stock opened at $45.54 on Wednesday. The business’s 50 day moving average is $50.71 and its two-hundred day moving average is $54.30. Barnes Group has a twelve month low of $42.81 and a twelve month high of $72.70. The company has a market capitalization of $2.30 billion, a P/E ratio of 14.14, a price-to-earnings-growth ratio of 2.07 and a beta of 1.40. The company has a current ratio of 2.13, a quick ratio of 1.43 and a debt-to-equity ratio of 0.73.
Several research analysts have weighed in on the company. Zacks Investment Research downgraded Barnes Group from a “hold” rating to a “sell” rating and set a $55.00 target price on the stock. in a research note on Thursday, August 1st. Alembic Global Advisors assumed coverage on Barnes Group in a report on Friday, May 17th. They issued an “overweight” rating and a $67.00 price target for the company. UBS Group reduced their price target on Barnes Group from $60.00 to $56.00 and set a “neutral” rating for the company in a report on Tuesday, July 30th. ValuEngine cut Barnes Group from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. Finally, SunTrust Banks cut Barnes Group from a “hold” rating to a “sell” rating and reduced their price target for the company from $53.00 to $48.00 in a report on Friday, June 14th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $60.67.
In other news, VP Marian Acker sold 2,274 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $45.43, for a total value of $103,307.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mylle H. Mangum sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $51.89, for a total value of $51,890.00. The disclosure for this sale can be found here. 8.35% of the stock is owned by company insiders.
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, automation, personal care, packaging, electronics, and medical devices.
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