Barnes Group (NYSE:B) Sets New 52-Week High - Should You Buy?

Barnes Group Inc. (NYSE:B - Get Free Report)'s share price hit a new 52-week high on Friday . The stock traded as high as $47.43 and last traded at $47.33, with a volume of 109791 shares. The stock had previously closed at $47.31.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on B. DA Davidson restated a "neutral" rating and set a $47.50 target price (down previously from $52.00) on shares of Barnes Group in a research report on Monday, October 7th. StockNews.com began coverage on shares of Barnes Group in a research note on Monday, January 13th. They issued a "sell" rating on the stock. Finally, Truist Financial increased their price objective 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.

Barnes Group Trading Up 0.0 %

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 stock has a market capitalization of $2.41 billion, a P/E ratio of -61.45 and a beta of 1.32. The company has a 50-day moving average price of $47.04 and a 200 day moving average price of $43.36.

Institutional Investors Weigh In On Barnes Group

A number of large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its stake in shares of Barnes Group by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,587,611 shares of the industrial products company's stock worth $148,565,000 after buying an additional 60,152 shares during the period. Renaissance Technologies LLC lifted its position in Barnes Group by 158.2% during the 2nd 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 period. Moors & Cabot Inc. lifted its position in Barnes Group by 14.4% during the 2nd quarter. Moors & Cabot Inc. now owns 9,434 shares of the industrial products company's stock worth $391,000 after acquiring an additional 1,184 shares during the period. Intech Investment Management LLC purchased a new stake in Barnes Group during the 2nd quarter valued at about $277,000. Finally, Sei Investments Co. raised its stake in shares of Barnes Group by 3.0% in the second quarter. Sei Investments Co. now owns 327,984 shares of the industrial products company's stock worth $13,582,000 after purchasing an additional 9,609 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company's stock.

Barnes Group Company Profile

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.