Everence Capital Management Inc. Lowers Holdings in Barnes Group Inc. (NYSE:B)

Everence Capital Management Inc. reduced its holdings in shares of Barnes Group Inc. (NYSE:B) by 29.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,150 shares of the industrial products company’s stock after selling 2,150 shares during the period. Everence Capital Management Inc.’s holdings in Barnes Group were worth $243,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in B. Westwood Holdings Group Inc. purchased a new stake in shares of Barnes Group during the second quarter worth approximately $32,576,000. Simcoe Capital Management LLC acquired a new stake in shares of Barnes Group in the 3rd quarter valued at $24,469,000. AYAL Capital Advisors Ltd purchased a new stake in shares of Barnes Group during the 2nd quarter worth $12,166,000. Mason Capital Management LLC increased its holdings in Barnes Group by 32.9% in the second quarter. Mason Capital Management LLC now owns 1,050,079 shares of the industrial products company’s stock valued at $43,484,000 after buying an additional 259,957 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new stake in Barnes Group in the third quarter valued at $3,975,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Barnes Group Price Performance

B stock opened at $47.25 on Thursday. Barnes Group Inc. has a 52 week low of $29.69 and a 52 week high of $47.40. The company has a current ratio of 2.28, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The company has a market cap of $2.41 billion, a P/E ratio of -61.36 and a beta of 1.32. The company’s 50-day moving average price is $46.96 and its 200 day moving average price is $43.05.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. 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 report on Monday, October 7th. Truist Financial raised 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. Finally, StockNews.com assumed coverage on Barnes Group in a research note on Sunday. They issued a “sell” rating for the company.

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.