Barnes Group Inc. (NYSE:B) declared a quarterly dividend on Thursday, July 18th, RTT News reports. Investors of record on Monday, August 26th 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 1.40%. The ex-dividend date is Friday, August 23rd.
Barnes Group has increased its dividend by an average of 8.9% annually over the last three years and has increased its dividend every year for the last 6 years. Barnes Group has a dividend payout ratio of 19.6% meaning its dividend is sufficiently covered by earnings. 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%.
NYSE:B opened at $45.63 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.43 and a current ratio of 2.13. Barnes Group has a one year low of $42.81 and a one year high of $72.70. The business’s 50-day simple moving average is $50.51 and its 200 day simple moving average is $54.24. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 2.08 and a beta of 1.40.
In other news, Director Mylle H. Mangum sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $51.89, for a total transaction of $51,890.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Marian Acker sold 2,274 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $45.43, for a total value of $103,307.82. The disclosure for this sale can be found here. 8.35% of the stock is owned by insiders.
Several research analysts recently commented on B shares. ValuEngine cut Barnes Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. SunTrust Banks lowered Barnes Group from a “hold” rating to a “sell” rating and lowered their price objective for the company from $53.00 to $48.00 in a report on Friday, June 14th. 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 objective for the company. Zacks Investment Research lowered Barnes Group from a “hold” rating to a “sell” rating and set a $55.00 price objective for the company. in a report on Thursday, August 1st. Finally, UBS Group lowered their price objective on Barnes Group from $60.00 to $56.00 and set a “neutral” rating for the company in a report on Tuesday, July 30th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $60.67.
Barnes Group Company Profile
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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