Barnes Group Inc. (NYSE:B) Short Interest Up 7.4% in December

Barnes Group Inc. (NYSE:B - Get Free Report) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 790,000 shares, a growth of 7.4% from the November 30th total of 735,500 shares. Based on an average daily trading volume, of 800,100 shares, the days-to-cover ratio is presently 1.0 days. Approximately 1.6% of the shares of the company are short sold.

Analysts Set New Price Targets

Several brokerages have recently issued reports on B. StockNews.com initiated coverage on Barnes Group in a report on Saturday. They issued a "sell" rating for the company. Truist Financial boosted their price target on Barnes Group from $38.00 to $47.50 and gave the company a "hold" rating in a report on Tuesday, October 8th. Finally, DA Davidson restated 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.

Institutional Investors Weigh In On Barnes Group

A number of hedge funds have recently modified their holdings of B. Renaissance Technologies LLC increased its stake in Barnes Group by 158.2% during the second quarter. Renaissance Technologies LLC now owns 50,600 shares of the industrial products company's stock worth $2,095,000 after acquiring an additional 31,000 shares during the last quarter. Jane Street Group LLC increased its position in shares of Barnes Group by 22.9% during the 3rd quarter. Jane Street Group LLC now owns 153,917 shares of the industrial products company's stock worth $6,220,000 after purchasing an additional 28,649 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in Barnes Group by 9.6% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 548,088 shares of the industrial products company's stock valued at $22,148,000 after buying an additional 47,821 shares during the last quarter. William B. Walkup & Associates Inc. purchased a new position in Barnes Group during the second quarter worth about $714,000. Finally, Barclays PLC boosted its stake in Barnes Group by 9.3% during the third quarter. Barclays PLC now owns 132,462 shares of the industrial products company's stock worth $5,353,000 after buying an additional 11,279 shares during the period. Hedge funds and other institutional investors own 90.82% of the company's stock.

Barnes Group Price Performance

B remained flat at $47.26 on Wednesday. 586,718 shares of the company were exchanged, compared to its average volume of 449,488. Barnes Group has a 52-week low of $29.67 and a 52-week high of $47.40. The firm has a market capitalization of $2.41 billion, a PE ratio of -61.38 and a beta of 1.34. The company has a current ratio of 2.28, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The business has a fifty day moving average price of $46.90 and a two-hundred day moving average price of $42.75.

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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