Principal Financial Group Inc. Purchases 6,906 Shares of Barnes Group Inc. (NYSE:B)

Principal Financial Group Inc. lifted its stake in shares of Barnes Group Inc. (NYSE:B) by 3.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 222,351 shares of the industrial products company’s stock after buying an additional 6,906 shares during the quarter. Principal Financial Group Inc. owned about 0.44% of Barnes Group worth $10,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of B. Simcoe Capital Management LLC purchased a new position in shares of Barnes Group during the third quarter valued at about $24,469,000. Strategic Financial Concepts LLC increased its position in shares of Barnes Group by 4,626.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 384,649 shares of the industrial products company’s stock valued at $18,179,000 after buying an additional 376,510 shares during the period. Verition Fund Management LLC purchased a new position in shares of Barnes Group during the third quarter valued at about $3,975,000. Readystate Asset Management LP purchased a new stake in Barnes Group in the third quarter worth about $2,065,000. Finally, Quantbot Technologies LP purchased a new stake in Barnes Group in the third quarter worth about $1,511,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barnes Group Stock Performance

NYSE:B opened at $47.48 on Friday. The company’s 50 day moving average price is $47.38 and its 200-day moving average price is $44.81. Barnes Group Inc. has a 52 week low of $32.00 and a 52 week high of $47.50. The company has a quick ratio of 1.35, a current ratio of 2.28 and a debt-to-equity ratio of 0.87. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of -61.66 and a beta of 1.32.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Barnes Group in a report on Saturday, February 22nd. They issued a “sell” rating on the stock.

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.