Proficio Capital Partners LLC Purchases New Shares in Barnes Group Inc. (NYSE:B)

Proficio Capital Partners LLC purchased a new stake in shares of Barnes Group Inc. (NYSE:B) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 20,747 shares of the industrial products company’s stock, valued at approximately $981,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Simcoe Capital Management LLC purchased a new stake in Barnes Group in the third quarter worth $24,469,000. Strategic Financial Concepts LLC increased its stake in Barnes Group by 4,626.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 384,649 shares of the industrial products company’s stock worth $18,179,000 after purchasing an additional 376,510 shares during the period. Alberta Investment Management Corp purchased a new stake in Barnes Group in the fourth quarter worth $5,199,000. New York Life Investment Management LLC purchased a new stake in Barnes Group in the fourth quarter worth $5,067,000. Finally, Verition Fund Management LLC purchased a new stake in Barnes Group in the third quarter worth $3,975,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Barnes Group in a research note on Sunday, March 2nd. They issued a “sell” rating on the stock.

Barnes Group Price Performance

Shares of B stock opened at $47.48 on Friday. Barnes Group Inc. has a 1-year low of $32.00 and a 1-year high of $47.50. The stock’s 50-day moving average is $47.40 and its 200 day moving average is $45.08. The company has a market cap of $2.42 billion, a P/E ratio of -61.66 and a beta of 1.32. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.28 and a quick ratio of 1.35.

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.