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

Barnes Group Inc. (NYSE:B) reached a new 52-week high 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.

Wall Street Analysts Forecast Growth

B has been the topic of a number of research reports. DA Davidson reaffirmed a “neutral” rating and set a $47.50 target price (down previously from $52.00) on shares of Barnes Group in a research note on Monday, October 7th. Truist Financial boosted their target price on shares of Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a research note on Tuesday, October 8th. Finally, StockNews.com began coverage on shares of Barnes Group in a research note on Tuesday. They issued a “sell” rating on the stock.

Barnes Group Trading Up 0.1 %

The company has a quick ratio of 1.35, a current ratio of 2.28 and a debt-to-equity ratio of 0.87. The company has a market cap of $2.42 billion, a P/E ratio of -61.67 and a beta of 1.32. The firm’s 50 day moving average is $47.12 and its two-hundred day moving average is $43.60.

Hedge Funds Weigh In On Barnes Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its holdings in Barnes Group by 158.2% in the second quarter. Renaissance Technologies LLC now owns 50,600 shares of the industrial products company’s stock valued at $2,095,000 after buying an additional 31,000 shares during the period. Jane Street Group LLC raised its holdings in shares of Barnes Group by 22.9% during the third quarter. Jane Street Group LLC now owns 153,917 shares of the industrial products company’s stock valued at $6,220,000 after purchasing an additional 28,649 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Barnes Group by 15.2% during the third quarter. JPMorgan Chase & Co. now owns 92,185 shares of the industrial products company’s stock valued at $3,725,000 after purchasing an additional 12,156 shares during the period. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Barnes Group by 9.6% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 548,088 shares of the industrial products company’s stock valued at $22,148,000 after purchasing an additional 47,821 shares during the period. Finally, William B. Walkup & Associates Inc. acquired a new position in shares of Barnes Group during the second quarter valued at about $714,000. Institutional investors and hedge funds 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.