Barnes Group (NYSE:B) Hits New 1-Year High – Here’s What Happened

Barnes Group Inc. (NYSE:B) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $47.48 and last traded at $47.47, with a volume of 1540090 shares. The stock had previously closed at $47.39.

Analysts Set New Price Targets

B has been the subject of several analyst reports. StockNews.com assumed coverage on Barnes Group in a research note on Tuesday. They set a “sell” rating for the company. DA Davidson reaffirmed a “neutral” rating and set a $47.50 price target (down from $52.00) on shares of Barnes Group in a report on Monday, October 7th. Finally, Truist Financial boosted their price objective on shares of Barnes Group from $38.00 to $47.50 and gave the company a “hold” rating in a research note on Tuesday, October 8th.

Barnes Group Stock Up 0.2 %

The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.28. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -61.64 and a beta of 1.32. The firm has a fifty day moving average price of $47.09 and a 200 day moving average price of $43.52.

Institutional Trading of Barnes Group

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in shares of Barnes Group by 17.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company’s stock valued at $66,000 after acquiring an additional 238 shares during the period. KBC Group NV raised its holdings in Barnes Group by 52.4% during the fourth quarter. KBC Group NV now owns 2,186 shares of the industrial products company’s stock worth $103,000 after purchasing an additional 752 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Barnes Group during the third quarter worth $178,000. Centiva Capital LP acquired a new stake in Barnes Group in the third quarter valued at $212,000. Finally, Captrust Financial Advisors acquired a new position in shares of Barnes Group during the 3rd quarter worth $224,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

About Barnes Group

Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. The company operates through two segments: Industrial and Aerospace. The Industrial segment offers precision components, products, and systems used by various customers in end-markets, such as mobility, industrial equipment, automation, personal care, packaging, electronics, and medical devices.