Barnes Group Inc.
) touched a new 52-week high of $35.71 during the trading session
on Sep 20. This represents an increase of 2.5% over the previous
high of $34.84 reached the day before on Sep 19.
Barnes Group closed the trading day on Sep 20 at $35.54,
reflecting a solid year-to-date return of 39.2%. The trading
volume for the session was 1.1 million shares. Further upside
potential exists for this Zacks Rank #3 (Hold) aerospace and
industrial manufacturing and service provider as can be
ascertained from its expected earnings growth of 3.3% for 2013
and 13.9% for 2014.
Barnes Group's solid financial results for the second quarter
2013 as well as increase in quarterly cash dividend have worked
in favor of the company's shareholders. Since Jul 26, 2013 share
prices have risen 8.5%.
Non-GAAP earnings per share in the quarter grew 34.3% year over
year and came in at 43 cents, in-line with the Zacks Consensus
Estimate. Net sales were up 24.2% on the back of 3.3% increase in
Aerospace sales and 40.3% increase in Industrial sales. Operating
margin came in at 13.5%, up 150 basis points from 12.0% reported
in the year-ago quarter.
Talking of Barnes Group's outlook for 2013, non-GAAP earnings per
share are anticipated to range within $1.85 to $1.95, up 22%-28%
from adjusted earnings per share of 2012. Revenue from continuing
operations is anticipated to grow 17%-19%.
In addition to the above, Barnes Group raised its quarterly cash
dividend by 10% to 11 cents, resulting in annualized cash
dividend of 44 cents. Expectations are high regarding Barnes
Group's performance in the quarters ahead. Also, we currently
of +1.6% for 2013 and +2.7% for 2014.
Estimate Revisions Show Potency
Over the last 60 days, the Zacks Consensus Estimate for Barnes
Group increased by 0.5% to $1.92 for 2013 and by 0.9% to $2.19
for 2014, respectively.
Barnes Group currently has a market capitalization of $1.9
billion. Other stocks to watch out for in the industry are
), each holding a Zacks Rank #1 (Strong Buy) while
DXP Enterprises, Inc.
) has a Zacks Rank #2 (Buy).
BARNES GRP (B): Free Stock Analysis Report
DXP ENTERPRISES (DXPE): Free Stock Analysis
GRAHAM CORP (GHM): Free Stock Analysis Report
GORMAN RUPP CO (GRC): Free Stock Analysis
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