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Last $38.70 USD
Change Today +0.48 / 1.26%
Volume 169.4K
B On Other Exchanges
Symbol
Exchange
Berlin
As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

barnes group inc (B) Snapshot

Open
$38.11
Previous Close
$38.22
Day High
$38.73
Day Low
$37.24
52 Week High
08/18/15 - $41.78
52 Week Low
10/1/14 - $29.47
Market Cap
2.1B
Average Volume 10 Days
251.8K
EPS TTM
$2.41
Shares Outstanding
54.7M
EX-Date
08/25/15
P/E TM
16.1x
Dividend
$0.48
Dividend Yield
1.24%
Current Stock Chart for BARNES GROUP INC (B)

barnes group inc (B) Related Businessweek News

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barnes group inc (B) Details

Barnes Group Inc. operates as an industrial and aerospace manufacturer and service provider serving a range of end markets and customers worldwide. The company operates in two segments, Industrial and Aerospace. The Industrial segment offers precision parts, products, and systems for applications serving various customers in end-markets, such as transportation, industrial equipment, consumer products, packaging, electronics, medical devices, and energy, as well as personal care/health care industries. This segment also manufactures and supplies precision mechanical products, including precision mechanical springs and nitrogen gas products; high-precision punched and fine-blanked components, nitrogen gas springs and manifold systems, and retention rings; and high precision molds, valve gate hot runner systems, and system solutions. The Aerospace segment produces precision-machined and fabricated components and assemblies for original equipment manufacturer turbine engine, airframe, and industrial gas turbine builders, as well as for the military. It also offers maintenance, overhaul, and repair services for jet engine components to turbine engine manufacturers, commercial airlines, and the military. In addition, this segment manufactures aerospace aftermarket spare parts, as well as provides repair services for aircraft engine components. The company sells its products primarily through its direct sales force and global distribution channels. Barnes Group Inc. was founded in 1857 and is headquartered in Bristol, Connecticut.

4,515 Employees
Last Reported Date: 02/23/15
Founded in 1857

barnes group inc (B) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $768.8K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $461.0K
Senior Vice President and President of Barnes...
Total Annual Compensation: $375.0K
Senior Vice President and President of Barnes...
Total Annual Compensation: $336.8K
Senior Vice President of Human Resources and ...
Total Annual Compensation: $296.0K
Compensation as of Fiscal Year 2014.

barnes group inc (B) Key Developments

Barnes Group Inc. Names James Berklas Senior Vice President, General Counsel and Secretary

Barnes Group Inc. announced the appointment of James Berklas to the position of Senior Vice President, General Counsel and Secretary, effective immediately. Before joining Barnes Group, Mr. Berklas served as Senior Vice President, Associate General Counsel, Chief Compliance Officer and Associate Corporate Secretary for Herbalife Ltd. in Los Angeles, California from 2008 to 2015. In this role, he was responsible for legal affairs and compliance, and served as corporate secretary. Previously, Mr. Berklas served as General Counsel and Corporate Secretary for Marietta Corporation from 2005 to 2008 and, from 2006 to 2008, as Marietta’s Senior Vice President, Hotel Division General Manager. Jim commenced his career in private practice with three prominent law firms including Vinson & Elkins LLP, Simpson Thatcher & Bartlett LLP, and Irell & Manella LLP. Mr. Berklas will be relocating to Connecticut from California.

Barnes Group Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Full Year of 2015

Barnes Group Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net sales of $314,941,000 against $322,074,000 a year ago. Operating income was $50,649,000 against $45,381,000 a year ago. Income before income taxes was $47,826,000 against $41,785,000 a year ago. Net income was $34,227,000 or $0.61 diluted per share against $30,228,000 or $0.54 diluted per share a year ago. Operating income as adjusted (Non-GAAP) was $51,279,000 against $49,564,000 a year ago. Net sales were down 2% from the second quarter of 2014 as positive organic growth of approximately 4% was more than offset by unfavorable foreign exchange of 6%. On an adjusted basis, net income was $0.62 diluted per share, up 5% from $0.59 diluted per share a year ago. Adjusted net income excludes $0.6 million pre-tax, or $0.01 per diluted share, of the last remaining Männer short-term purchase accounting adjustments. Second quarter 2014 adjusted net income excludes the impact of Männer short-term purchase accounting adjustments of $1.9 million pre-tax, or $0.02 per diluted share, and costs related to the closure of production operations at Associated Spring’s Saline, Michigan facility which were $2.3 million pre-tax, or $0.03 per diluted share. Cash generation continued to be strong, as second quarter cash provided by operating activities was $86 million versus $65 million a year ago. Free cash flow, which define as operating cash flow less capital expenditures, was $64 million versus $39 million last year. For the six months, the company reported net sales of $615,515,000 against $634,173,000 a year ago. Operating income was $94,544,000 against $80,506,000 a year ago. Income before income taxes was $88,920,000 against $73,356,000 a year ago. Net income was $63,303,000 or $1.14 diluted per share against $52,981,000 or $0.95 diluted per share a year ago. Net cash provided by operating activities was $85,911,000 against $64,913,000 a year ago. Capital expenditures were $22,376,000 against $25,802,000 a year ago. Free cash flow was $63,535,000 against $39,111,000 a year ago. Operating income as adjusted (Non-GAAP) was $96,025,000 against $92,340,000 a year ago. Diluted net income per share as adjusted (non-GAAP) was $1.16 against $1.10 a year ago. The company provided earnings guidance for the full year of 2015. The company’s GAAP earnings from continuing operations are now expected to be in the range of $2.43 to $2.53 per diluted share. Excluding $0.02 of the final Männer short-term purchase accounting adjustments recorded in 2015, adjusted diluted earnings per share from continuing operations is expected to be in the range of $2.45 to $2.55, up 5% to 9% from 2014’s adjusted diluted earnings per share of $2.34. Further, the company anticipates capital expenditures of approximately $55 million and cash conversion to approximate 100% of net income. For 2015, tax rate is expected to be between 28.5% to 29%, slightly lower than previous expectation.

Barnes Industrial Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Barnes Industrial announced unaudited earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net sales of $202,589,000 against $212,768,000 a year ago. Operating profit was $29,979,000 against $28,765,000 a year ago. Operating profit as adjusted (non-GAAP) was $30,609,000 against $32,948,000 a year ago. Unfavorable foreign exchange reduced sales by approximately $20 million, or 9%. The operating profit benefit from the contribution of organic sales growth was more than offset by lower productivity, including incremental costs related to new product introductions to support future growth programs, and the unfavorable impact of foreign exchange. For the six months, the company reported net sales of $402,938,000 against $416,656,000 a year ago. Operating profit was $60,958,000 against $48,140,000 a year ago. Operating profit as adjusted (non-GAAP) was $62,439,000 against $59,974,000 a year ago.

 

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Industry Analysis

B

Industry Average

Valuation B Industry Range
Price/Earnings 16.4x
Price/Sales 1.7x
Price/Book 1.8x
Price/Cash Flow 16.4x
TEV/Sales 1.2x
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