Wall Street brokerages forecast that Barnes Group Inc. (NYSE:B) will report $389.04 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Barnes Group’s earnings, with the lowest sales estimate coming in at $384.00 million and the highest estimate coming in at $394.30 million. Barnes Group reported sales of $375.32 million in the same quarter last year, which indicates a positive year-over-year growth rate of 3.7%. The business is expected to issue its next earnings report on Friday, July 26th.
According to Zacks, analysts expect that Barnes Group will report full year sales of $1.56 billion for the current fiscal year, with estimates ranging from $1.56 billion to $1.57 billion. For the next year, analysts forecast that the firm will post sales of $1.62 billion, with estimates ranging from $1.59 billion to $1.63 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Barnes Group.
Barnes Group (NYSE:B) last announced its quarterly earnings results on Friday, April 26th. The industrial products company reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.02. Barnes Group had a net margin of 10.72% and a return on equity of 14.01%. The firm had revenue of $376.69 million for the quarter, compared to analyst estimates of $374.04 million. During the same quarter in the previous year, the firm posted $0.72 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis.
In related news, Director Richard J. Hipple acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, February 27th. The shares were purchased at an average cost of $58.83 per share, for a total transaction of $58,830.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Dawn N. Edwards sold 1,750 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $55.44, for a total transaction of $97,020.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,450 shares of company stock worth $1,684,238. 8.35% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in B. Nisa Investment Advisors LLC increased its holdings in shares of Barnes Group by 269.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 960 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 700 shares during the last quarter. Founders Capital Management LLC acquired a new position in shares of Barnes Group in the fourth quarter valued at about $210,000. Mitsubishi UFJ Asset Management UK Ltd. grew its stake in shares of Barnes Group by 25.0% in the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 20,000 shares of the industrial products company’s stock valued at $1,072,000 after acquiring an additional 4,000 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Barnes Group by 3.7% in the fourth quarter. Bank of Montreal Can now owns 9,510 shares of the industrial products company’s stock valued at $509,000 after acquiring an additional 343 shares in the last quarter. Finally, Tributary Capital Management LLC grew its stake in shares of Barnes Group by 0.5% in the fourth quarter. Tributary Capital Management LLC now owns 320,879 shares of the industrial products company’s stock valued at $17,206,000 after acquiring an additional 1,539 shares in the last quarter. Hedge funds and other institutional investors own 84.86% of the company’s stock.
B traded up $0.10 during trading on Friday, reaching $53.34. The company had a trading volume of 127,116 shares, compared to its average volume of 207,886. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 2.16. Barnes Group has a 12 month low of $49.06 and a 12 month high of $72.70. The firm has a market cap of $2.74 billion, a P/E ratio of 16.57, a PEG ratio of 2.48 and a beta of 1.46.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 24th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $0.64 dividend on an annualized basis and a yield of 1.20%. Barnes Group’s payout ratio is 19.88%.
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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