State Street Corp Trims Holdings in Barnes Group Inc. (NYSE:B)

State Street Corp lowered its position in Barnes Group Inc. (NYSE:B) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,987,143 shares of the industrial products company’s stock after selling 5,393 shares during the period. State Street Corp’s holdings in Barnes Group were worth $80,300,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of B. GAMMA Investing LLC boosted its holdings in shares of Barnes Group by 17.1% in 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 last quarter. SG Americas Securities LLC acquired a new position in Barnes Group during the third quarter valued at $178,000. Centiva Capital LP purchased a new stake in Barnes Group in the third quarter valued at $212,000. Captrust Financial Advisors acquired a new stake in Barnes Group during the 3rd quarter worth about $224,000. Finally, Needham Investment Management LLC purchased a new position in shares of Barnes Group during the 3rd quarter valued at about $242,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barnes Group Stock Performance

Shares of B stock opened at $47.17 on Wednesday. The company has a current ratio of 2.28, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. Barnes Group Inc. has a 12-month low of $29.60 and a 12-month high of $47.40. The business’s 50 day moving average is $46.78 and its two-hundred day moving average is $42.11. The company has a market capitalization of $2.40 billion, a P/E ratio of -61.26 and a beta of 1.34.

Wall Street Analyst Weigh In

A number of analysts have recently commented on B shares. DA Davidson restated a “neutral” rating and issued a $47.50 target price (down previously from $52.00) on shares of Barnes Group in a research note on Monday, October 7th. StockNews.com began coverage on shares of Barnes Group in a research note on Thursday, December 12th. They set a “sell” rating on the stock. Finally, Truist Financial boosted their target price 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.

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.