Shares of Barnes Group Inc. (NYSE:B - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 498,868 shares changed hands during trading, a decline of 38% from the previous session's volume of 809,840 shares.The stock last traded at $47.47 and had previously closed at $47.39.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on B. Truist Financial increased their target price on shares of Barnes Group from $38.00 to $47.50 and gave the stock a "hold" rating in a research report on Tuesday, October 8th. DA Davidson reissued a "neutral" rating and set 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 Barnes Group in a research note on Tuesday. They issued a "sell" rating on the stock.
View Our Latest Report on Barnes Group
Barnes Group Stock Performance
The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of -61.64 and a beta of 1.32. The stock's 50 day moving average price is $47.09 and its 200 day moving average price is $43.52. The company has a current ratio of 2.28, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87.
Hedge Funds Weigh In On Barnes Group
Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its position 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 valued at $66,000 after buying an additional 238 shares during the last quarter. KBC Group NV boosted its holdings in Barnes Group by 52.4% in the fourth quarter. KBC Group NV now owns 2,186 shares of the industrial products company's stock valued at $103,000 after acquiring an additional 752 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Barnes Group during the 3rd quarter valued at approximately $178,000. Centiva Capital LP bought a new position in Barnes Group during the 3rd quarter worth approximately $212,000. Finally, Captrust Financial Advisors acquired a new position in shares of Barnes Group in the 3rd quarter worth approximately $224,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.
Barnes Group Company Profile
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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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