Barnes Group Inc. (NYSE:B) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its stake in Barnes Group Inc. (NYSE:B) by 2.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 820,924 shares of the industrial products company’s stock after selling 22,574 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.61% of Barnes Group worth $33,174,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC grew its position 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 buying an additional 238 shares during the last quarter. QRG Capital Management Inc. grew its position in shares of Barnes Group by 4.1% in the 2nd quarter. QRG Capital Management Inc. now owns 6,073 shares of the industrial products company’s stock valued at $251,000 after buying an additional 240 shares during the last quarter. Texas Permanent School Fund Corp grew its position in shares of Barnes Group by 0.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 44,613 shares of the industrial products company’s stock valued at $1,847,000 after buying an additional 263 shares during the last quarter. Natixis Advisors LLC grew its position in Barnes Group by 2.8% during the 3rd quarter. Natixis Advisors LLC now owns 11,733 shares of the industrial products company’s stock worth $474,000 after purchasing an additional 323 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its position in Barnes Group by 1.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 25,500 shares of the industrial products company’s stock worth $1,056,000 after purchasing an additional 400 shares during the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barnes Group Stock Performance

NYSE:B opened at $47.06 on Wednesday. The firm has a 50 day simple moving average of $45.54 and a 200-day simple moving average of $41.56. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.28 and a quick ratio of 1.35. The firm has a market cap of $2.40 billion, a PE ratio of -61.12 and a beta of 1.34. Barnes Group Inc. has a 1-year low of $26.95 and a 1-year high of $47.40.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of Barnes Group in a report on Wednesday. They issued a “sell” rating on the stock. DA Davidson reaffirmed a “neutral” rating and issued a $47.50 target price (down previously from $52.00) on shares of Barnes Group in a report on Monday, October 7th. Finally, Truist Financial lifted their target price on shares of Barnes Group from $38.00 to $47.50 and gave the company a “hold” rating in a report on Tuesday, October 8th.

Barnes Group Company 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.