Principal Financial Group Inc. Trims Stock Position in Barnes Group Inc. (NYSE:B)

Principal Financial Group Inc. trimmed its stake in Barnes Group Inc. (NYSE:B) by 13.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 215,445 shares of the industrial products company’s stock after selling 34,243 shares during the period. Principal Financial Group Inc. owned 0.42% of Barnes Group worth $8,706,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Janney Montgomery Scott LLC bought a new stake in shares of Barnes Group during the first quarter valued at approximately $253,000. SG Americas Securities LLC purchased a new position in Barnes Group during the first quarter valued at $208,000. ProShare Advisors LLC boosted its holdings in shares of Barnes Group by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 9,915 shares of the industrial products company’s stock valued at $368,000 after buying an additional 679 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Barnes Group by 22.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 17,137 shares of the industrial products company’s stock worth $690,000 after buying an additional 3,150 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Barnes Group by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 5,689,535 shares of the industrial products company’s stock worth $211,366,000 after buying an additional 206,351 shares during the period. Institutional investors own 90.82% of the company’s stock.

Barnes Group Stock Up 0.1 %

NYSE:B opened at $46.71 on Tuesday. 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 cap of $2.38 billion, a P/E ratio of -60.66, a P/E/G ratio of 3.21 and a beta of 1.35. Barnes Group Inc. has a fifty-two week low of $25.75 and a fifty-two week high of $47.40. The firm has a 50-day simple moving average of $43.72 and a two-hundred day simple moving average of $40.99.

Analyst Ratings Changes

Several research firms recently commented on B. StockNews.com initiated coverage on shares of Barnes Group in a research note on Monday. They set a “sell” rating on the stock. DA Davidson reissued a “neutral” rating and issued a $47.50 price target (down from $52.00) on shares of Barnes Group in a research report on Monday, October 7th. Finally, Truist Financial upped their price target on Barnes Group from $38.00 to $47.50 and gave the stock 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.