Bank of New York Mellon Corp Lowers Stake in Barnes Group Inc. (NYSE:B)

Bank of New York Mellon Corp reduced its position in shares of Barnes Group Inc. (NYSE:B) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 315,594 shares of the industrial products company’s stock after selling 7,095 shares during the period. Bank of New York Mellon Corp owned approximately 0.62% of Barnes Group worth $14,915,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of B. Simcoe Capital Management LLC acquired a new position in Barnes Group during the third quarter valued at approximately $24,469,000. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Barnes Group by 2.1% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 559,772 shares of the industrial products company’s stock worth $26,455,000 after buying an additional 11,684 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Barnes Group by 4.1% during the 3rd quarter. Fisher Asset Management LLC now owns 448,991 shares of the industrial products company’s stock worth $18,144,000 after purchasing an additional 17,643 shares during the period. Strategic Financial Concepts LLC grew 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 worth $18,179,000 after acquiring an additional 376,510 shares during the last quarter. Finally, Geneva Capital Management LLC grew its position in Barnes Group by 0.6% in the 3rd quarter. Geneva Capital Management LLC now owns 269,404 shares of the industrial products company’s stock worth $10,887,000 after purchasing an additional 1,509 shares during the last quarter. 90.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Barnes Group in a report on Monday. They issued a “sell” rating on the stock.

Barnes Group Price Performance

Shares of Barnes Group stock opened at $47.48 on Thursday. Barnes Group Inc. has a 52-week low of $32.00 and a 52-week high of $47.50. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.28. The business’s 50 day simple moving average is $47.42 and its 200 day simple moving average is $45.38. The firm has a market cap of $2.42 billion, a PE ratio of -61.66 and a beta of 1.32.

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.