Barnes Group (B) Declares $0.16 Dividend

Barnes Group said on May 5, 2023 that its board of directors declared a regular quarterly dividend of $0.16 per share ($0.64 annualized). Previously, the company paid $0.16 per share.

Shares must be purchased before the ex-div date of May 24, 2023 to qualify for the dividend. Shareholders of record as of May 25, 2023 will receive the payment on June 9, 2023.

At the current share price of $41.46 / share, the stock's dividend yield is 1.54%.

Looking back five years and taking a sample every week, the average dividend yield has been 1.39%, the lowest has been 0.90%, and the highest has been 2.27%. The standard deviation of yields is 0.29 (n=237).

The current dividend yield is 0.53 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 5.26. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

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What is the Fund Sentiment?

There are 487 funds or institutions reporting positions in Barnes Group. This is an increase of 17 owner(s) or 3.62% in the last quarter. Average portfolio weight of all funds dedicated to B is 0.17%, an increase of 25.45%. Total shares owned by institutions increased in the last three months by 1.53% to 54,588K shares. The put/call ratio of B is 0.89, indicating a bullish outlook.

Analyst Price Forecast Suggests 4.97% Upside

As of April 24, 2023, the average one-year price target for Barnes Group is 43.52. The forecasts range from a low of 40.40 to a high of $50.40. The average price target represents an increase of 4.97% from its latest reported closing price of 41.46.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Barnes Group is 1,336MM, an increase of 3.98%. The projected annual non-GAAP EPS is 2.23.

What are Other Shareholders Doing?

IJR - iShares Core S&P Small-Cap ETF holds 3,747K shares representing 7.40% ownership of the company. In it's prior filing, the firm reported owning 3,694K shares, representing an increase of 1.41%. The firm increased its portfolio allocation in B by 30.52% over the last quarter.

Bank Of America holds 2,704K shares representing 5.34% ownership of the company. In it's prior filing, the firm reported owning 3,073K shares, representing a decrease of 13.63%. The firm increased its portfolio allocation in B by 18.63% over the last quarter.

Macquarie Group holds 2,695K shares representing 5.32% ownership of the company. In it's prior filing, the firm reported owning 2,672K shares, representing an increase of 0.85%. The firm increased its portfolio allocation in B by 37.28% over the last quarter.

Champlain Investment Partners holds 2,282K shares representing 4.51% ownership of the company. In it's prior filing, the firm reported owning 2,551K shares, representing a decrease of 11.79%. The firm decreased its portfolio allocation in B by 99.88% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,460K shares representing 2.88% ownership of the company. In it's prior filing, the firm reported owning 1,437K shares, representing an increase of 1.55%. The firm increased its portfolio allocation in B by 32.68% over the last quarter.

Barnes Group Background Information
(This description is provided by the company.)

Barnes Group Inc is a global provider of highly engineered products, differentiated industrial technologies, and innovative solutions, serving a wide range of end markets and customers. Its specialized products and services are used in far-reaching applications including aerospace, transportation, manufacturing, automation, healthcare, and packaging. The skilled and dedicated employees of Barnes Group around the globe are committed to the highest performance standards and achieving consistent, sustainable profitable growth. Barnes Group is committed to corporate accountability and furthering environmental, social and governance principles as evidenced by its listing as one of America's Most Responsible Companies by Newsweek.

This story originally appeared on Fintel.