Barnes Group (NYSE:B) released its earnings results on Friday. 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. Barnes Group had a return on equity of 12.44% and a net margin of 11.20%. The firm had revenue of $373.00 million during the quarter, compared to the consensus estimate of $357.77 million. During the same quarter in the previous year, the company posted $0.67 earnings per share. The company’s revenue was up 15.1% compared to the same quarter last year. Barnes Group updated its FY18 guidance to $2.98-3.13 EPS.
Shares of Barnes Group (NYSE B) traded up $1.06 during mid-day trading on Friday, reaching $63.95. The company had a trading volume of 289,276 shares, compared to its average volume of 207,399. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.45 and a current ratio of 2.20. The stock has a market capitalization of $3,428.42, a PE ratio of 22.13, a P/E/G ratio of 2.11 and a beta of 1.32. Barnes Group has a 52 week low of $48.21 and a 52 week high of $72.87.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 23rd will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.88%. The ex-dividend date is Thursday, February 22nd. Barnes Group’s dividend payout ratio is currently 52.34%.
A number of equities research analysts recently commented on the company. ValuEngine raised Barnes Group from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. SunTrust Banks reaffirmed a “hold” rating and set a $67.00 target price on shares of Barnes Group in a report on Tuesday, January 9th. Robert W. Baird reaffirmed a “hold” rating and set a $65.00 target price on shares of Barnes Group in a report on Sunday, October 29th. Finally, Zacks Investment Research downgraded Barnes Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 30th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Barnes Group currently has a consensus rating of “Buy” and a consensus price target of $68.17.
Hedge funds have recently made changes to their positions in the stock. We Are One Seven LLC purchased a new stake in shares of Barnes Group in the fourth quarter valued at approximately $330,000. MetLife Investment Advisors LLC purchased a new stake in shares of Barnes Group in the fourth quarter valued at approximately $1,398,000. Gotham Asset Management LLC increased its position in shares of Barnes Group by 83.9% in the fourth quarter. Gotham Asset Management LLC now owns 10,143 shares of the industrial products company’s stock valued at $642,000 after buying an additional 4,628 shares in the last quarter. Macquarie Group Ltd. increased its position in shares of Barnes Group by 3.5% in the fourth quarter. Macquarie Group Ltd. now owns 1,857,577 shares of the industrial products company’s stock valued at $117,529,000 after buying an additional 62,317 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Barnes Group by 283.0% in the fourth quarter. Millennium Management LLC now owns 31,607 shares of the industrial products company’s stock valued at $2,000,000 after buying an additional 23,354 shares in the last quarter. Institutional investors own 86.19% of the company’s stock.
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.
Receive News & Ratings for Barnes Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barnes Group and related companies with MarketBeat.com's FREE daily email newsletter.