Handelsbanken Fonder AB decreased its stake in Barnes Group Inc. (NYSE:B – Free Report) by 29.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,255 shares of the industrial products company’s stock after selling 3,100 shares during the quarter. Handelsbanken Fonder AB’s holdings in Barnes Group were worth $343,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the stock. KBC Group NV increased its holdings in Barnes Group by 52.4% in the fourth quarter. KBC Group NV now owns 2,186 shares of the industrial products company’s stock worth $103,000 after buying an additional 752 shares during the last quarter. Centiva Capital LP acquired a new position in Barnes Group during the 3rd quarter worth $212,000. Captrust Financial Advisors bought a new stake in Barnes Group during the third quarter valued at about $224,000. Needham Investment Management LLC bought a new position in Barnes Group in the 3rd quarter worth approximately $242,000. Finally, Quest Partners LLC acquired a new position in Barnes Group during the 3rd quarter valued at $248,000. Institutional investors and hedge funds own 90.82% of the company’s stock.
Analysts Set New Price Targets
Separately, StockNews.com began coverage on Barnes Group in a research note on Sunday. They issued a “sell” rating for the company.
Barnes Group Stock Performance
Shares of B opened at $47.48 on Tuesday. The stock has a market cap of $2.42 billion, a PE ratio of -61.66 and a beta of 1.32. The stock has a 50 day simple moving average of $47.39 and a 200-day simple moving average of $44.98. Barnes Group Inc. has a 1 year low of $32.00 and a 1 year high of $47.50. The company has a current ratio of 2.28, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87.
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.
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