Barnes Group (NYSE:B) announced its quarterly earnings data on Friday. The industrial products company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.68 by $0.03, Bloomberg Earnings reports. The business had revenue of $373.00 million during the quarter, compared to analyst estimates of $357.77 million. Barnes Group had a return on equity of 12.44% and a net margin of 11.20%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 earnings per share. Barnes Group updated its FY18 guidance to $2.98-3.13 EPS.
Shares of Barnes Group (B) traded up $1.06 during trading hours on Friday, hitting $63.95. The stock had a trading volume of 289,276 shares, compared to its average volume of 207,399. Barnes Group has a 1 year low of $48.21 and a 1 year high of $72.87. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.20 and a quick ratio of 1.45. The company has a market capitalization of $3,428.42, a P/E ratio of 59.77, a PEG ratio of 2.11 and a beta of 1.32.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $0.56 annualized dividend and a dividend yield of 0.88%. Barnes Group’s payout ratio is presently 52.34%.
Several equities analysts have commented on the company. ValuEngine raised Barnes Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research lowered Barnes Group from a “buy” rating to a “hold” rating in a research report on Tuesday, January 30th. SunTrust Banks reissued a “hold” rating and set a $67.00 price objective on shares of Barnes Group in a research report on Tuesday, January 9th. Finally, Robert W. Baird reissued a “hold” rating and set a $65.00 price objective on shares of Barnes Group in a research report on Sunday, October 29th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $68.17.
Large investors have recently modified their holdings of the company. YorkBridge Wealth Partners LLC increased its holdings in shares of Barnes Group by 4,461.8% during the third quarter. YorkBridge Wealth Partners LLC now owns 1,551 shares of the industrial products company’s stock valued at $109,000 after acquiring an additional 1,517 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in Barnes Group by 156.0% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,202 shares of the industrial products company’s stock worth $156,000 after buying an additional 1,342 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Barnes Group by 47.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,095 shares of the industrial products company’s stock worth $196,000 after buying an additional 1,003 shares in the last quarter. Bessemer Group Inc. increased its holdings in Barnes Group by 2,284.0% in the 4th quarter. Bessemer Group Inc. now owns 3,123 shares of the industrial products company’s stock worth $198,000 after buying an additional 2,992 shares in the last quarter. Finally, Visionary Asset Management Inc. bought a new stake in Barnes Group in the 3rd quarter worth about $216,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.
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Barnes Group Company Profile
Barnes Group Inc is an industrial and aerospace manufacturer and service provider, serving a range of end markets and customers. The Company’s engineered products, industrial technologies, and solutions are used in applications that provide transportation, manufacturing, healthcare products and technology to the world.
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