Barnes Group Inc. (NYSE:B) Shares Sold by US Bancorp DE

US Bancorp DE cut its holdings in shares of Barnes Group Inc. (NYSE:B) by 82.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,333 shares of the industrial products company’s stock after selling 11,024 shares during the quarter. US Bancorp DE’s holdings in Barnes Group were worth $94,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in Barnes Group by 64.8% in the 1st quarter. BNP Paribas Financial Markets now owns 26,382 shares of the industrial products company’s stock worth $980,000 after purchasing an additional 10,373 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of Barnes Group during the 1st quarter valued at approximately $253,000. SG Americas Securities LLC purchased a new position in shares of Barnes Group during the 1st quarter valued at approximately $208,000. QRG Capital Management Inc. purchased a new stake in Barnes Group in the 1st quarter worth $217,000. Finally, ProShare Advisors LLC increased its holdings in Barnes Group by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 9,915 shares of the industrial products company’s stock worth $368,000 after acquiring an additional 679 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on B. DA Davidson reiterated a “neutral” rating and set a $47.50 price objective (down from $52.00) on shares of Barnes Group in a research note on Monday, October 7th. StockNews.com initiated coverage on shares of Barnes Group in a research note on Sunday, November 10th. They set a “sell” rating for the company. Finally, Truist Financial raised 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.

Barnes Group Price Performance

Barnes Group stock opened at $46.68 on Friday. 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 company has a market capitalization of $2.38 billion, a price-to-earnings ratio of -60.62, a price-to-earnings-growth ratio of 3.20 and a beta of 1.35. The company’s 50 day simple moving average is $43.50 and its 200-day simple moving average is $40.87. Barnes Group Inc. has a 1 year low of $25.39 and a 1 year high of $47.40.

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.