Principal Financial Group Inc. lowered its holdings in Barnes Group Inc. (NYSE:B - Free Report) by 13.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 215,445 shares of the industrial products company's stock after selling 34,243 shares during the period. Principal Financial Group Inc. owned approximately 0.42% of Barnes Group worth $8,706,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in shares of Barnes Group by 17.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company's stock worth $66,000 after purchasing an additional 238 shares in the last quarter. SG Americas Securities LLC bought a new position in Barnes Group during the third quarter valued at approximately $178,000. Centiva Capital LP bought a new position in Barnes Group during the third quarter valued at approximately $212,000. Captrust Financial Advisors purchased a new position in shares of Barnes Group during the third quarter worth approximately $224,000. Finally, Needham Investment Management LLC purchased a new stake in shares of Barnes Group in the 3rd quarter valued at $242,000. Institutional investors own 90.82% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. Truist Financial boosted their target price on Barnes Group from $38.00 to $47.50 and gave the company a "hold" rating in a research note on Tuesday, October 8th. DA Davidson reiterated a "neutral" rating and issued a $47.50 price objective (down previously from $52.00) on shares of Barnes Group in a research report on Monday, October 7th. Finally, StockNews.com started coverage on shares of Barnes Group in a report on Saturday. They issued a "sell" rating on the stock.
Check Out Our Latest Report on Barnes Group
Barnes Group Stock Performance
Barnes Group stock remained flat at $47.26 on Wednesday. The company's stock had a trading volume of 586,718 shares, compared to its average volume of 449,488. Barnes Group Inc. has a fifty-two week low of $29.67 and a fifty-two week high of $47.40. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of -61.38 and a beta of 1.34. 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 firm has a 50-day moving average of $46.90 and a two-hundred day moving average of $42.75.
About Barnes Group
(
Free Report)
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.
Further Reading
Before you consider Barnes Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Barnes Group wasn't on the list.
While Barnes Group currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are major institutional investors including hedge funds and endowments buying in today's market? Click the link below and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying up as quickly as they can.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
