Intech Investment Management LLC Grows Position in Barnes Group Inc. (NYSE:B)

Intech Investment Management LLC raised its position in shares of Barnes Group Inc. (NYSE:B) by 153.8% during the 3rd quarter, Holdings Channel reports. The fund owned 16,964 shares of the industrial products company’s stock after purchasing an additional 10,279 shares during the period. Intech Investment Management LLC’s holdings in Barnes Group were worth $686,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Renaissance Technologies LLC raised its stake in Barnes Group by 158.2% during the second quarter. Renaissance Technologies LLC now owns 50,600 shares of the industrial products company’s stock valued at $2,095,000 after purchasing an additional 31,000 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Barnes Group by 9.6% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 548,088 shares of the industrial products company’s stock worth $22,148,000 after buying an additional 47,821 shares in the last quarter. William B. Walkup & Associates Inc. bought a new stake in shares of Barnes Group in the 2nd quarter worth about $714,000. Gabelli Funds LLC purchased a new stake in shares of Barnes Group during the 2nd quarter valued at about $538,000. Finally, Jade Capital Advisors LLC purchased a new stake in shares of Barnes Group during the 3rd quarter valued at about $606,000. 90.82% of the stock is currently owned by institutional investors.

Barnes Group Price Performance

B opened at $46.84 on Friday. The business has a fifty day moving average of $45.39 and a 200 day moving average of $41.51. The stock has a market cap of $2.39 billion, a P/E ratio of -60.83, a PEG ratio of 3.36 and a beta of 1.35. The company has a quick ratio of 1.35, a current ratio of 2.28 and a debt-to-equity ratio of 0.87. Barnes Group Inc. has a 52-week low of $25.85 and a 52-week high of $47.40.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on B. Truist Financial upped their price objective on Barnes Group from $38.00 to $47.50 and gave the company a “hold” rating in a research report on Tuesday, October 8th. StockNews.com initiated coverage on Barnes Group in a research report on Tuesday, November 26th. They issued a “sell” rating for the company. Finally, DA Davidson reiterated a “neutral” rating and set a $47.50 price objective (down previously from $52.00) on shares of Barnes Group in a research report on Monday, October 7th.

Barnes Group Profile

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.