Barnes Group (B) Issues Earnings Results
Barnes Group (NYSE:B) announced its quarterly earnings data on Friday, February 16th. The industrial products company reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03, Bloomberg Earnings reports. The business had revenue of $373.00 million for the quarter, compared to analyst estimates of $357.77 million. Barnes Group had a net margin of 4.15% and a return on equity of 12.36%. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 earnings per share. Barnes Group updated its FY18 guidance to $2.98-3.13 EPS.
Barnes Group (NYSE B) traded down $0.19 during mid-day trading on Monday, hitting $59.77. 16,043 shares of the company traded hands, compared to its average volume of 210,793. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.43 and a quick ratio of 1.67. Barnes Group has a fifty-two week low of $48.21 and a fifty-two week high of $72.87. The firm has a market capitalization of $3,191.94, a P/E ratio of 56.04, a PEG ratio of 1.96 and a beta of 1.36.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 23rd will be paid a $0.14 dividend. The ex-dividend date is Thursday, February 22nd. This represents a $0.56 annualized dividend and a dividend yield of 0.94%. Barnes Group’s dividend payout ratio (DPR) is presently 52.34%.
In other news, Director Richard J. Hipple acquired 1,300 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was acquired at an average price of $62.06 per share, with a total value of $80,678.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas O. Barnes sold 1,700 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $63.36, for a total transaction of $107,712.00. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company’s stock.
Several hedge funds have recently bought and sold shares of B. PNC Financial Services Group Inc. increased its stake in shares of Barnes Group by 143.6% in the second quarter. PNC Financial Services Group Inc. now owns 5,027 shares of the industrial products company’s stock valued at $294,000 after buying an additional 2,963 shares during the period. Fisher Asset Management LLC acquired a new position in shares of Barnes Group in the third quarter valued at approximately $6,274,000. Public Employees Retirement System of Ohio increased its stake in shares of Barnes Group by 65.9% in the third quarter. Public Employees Retirement System of Ohio now owns 51,147 shares of the industrial products company’s stock valued at $3,603,000 after buying an additional 20,313 shares during the period. Stifel Financial Corp increased its stake in shares of Barnes Group by 7.9% in the third quarter. Stifel Financial Corp now owns 277,675 shares of the industrial products company’s stock valued at $19,558,000 after buying an additional 20,403 shares during the period. Finally, BB&T Securities LLC acquired a new position in shares of Barnes Group in the third quarter valued at approximately $306,000. 86.34% of the stock is owned by hedge funds and other institutional investors.
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About Barnes Group
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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