Patriot Financial Group Insurance Agency LLC Increases Stock Holdings in Barnes Group Inc. (NYSE:B)

Patriot Financial Group Insurance Agency LLC grew its stake in Barnes Group Inc. (NYSE:B - Free Report) by 9.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 548,088 shares of the industrial products company's stock after buying an additional 47,821 shares during the quarter. Barnes Group accounts for about 3.0% of Patriot Financial Group Insurance Agency LLC's investment portfolio, making the stock its 2nd biggest holding. Patriot Financial Group Insurance Agency LLC owned about 1.08% of Barnes Group worth $22,148,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Westwood Holdings Group Inc. acquired a new stake in shares of Barnes Group in the second quarter valued at approximately $32,576,000. AYAL Capital Advisors Ltd bought a new stake in Barnes Group during the 2nd quarter worth about $12,166,000. Mason Capital Management LLC boosted its stake in shares of Barnes Group by 32.9% during the 2nd quarter. Mason Capital Management LLC now owns 1,050,079 shares of the industrial products company's stock worth $43,484,000 after buying an additional 259,957 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Barnes Group by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 5,689,535 shares of the industrial products company's stock valued at $211,366,000 after acquiring an additional 206,351 shares in the last quarter. Finally, Kennedy Capital Management LLC increased its position in shares of Barnes Group by 10.7% in the first quarter. Kennedy Capital Management LLC now owns 753,625 shares of the industrial products company's stock valued at $27,997,000 after acquiring an additional 72,546 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Barnes Group Price Performance

B stock traded down $0.14 during midday trading on Monday, reaching $46.76. The company had a trading volume of 828,935 shares, compared to its average volume of 415,074. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.24 and a quick ratio of 1.33. Barnes Group Inc. has a 1-year low of $18.79 and a 1-year high of $47.12. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 519.78, a price-to-earnings-growth ratio of 2.87 and a beta of 1.38. The stock has a 50 day moving average price of $41.15 and a 200-day moving average price of $39.70.

Barnes Group (NYSE:B - Get Free Report) last issued its earnings results on Friday, July 26th. The industrial products company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.02). Barnes Group had a negative net margin of 3.74% and a positive return on equity of 5.21%. The business had revenue of $382.23 million during the quarter, compared to analyst estimates of $398.80 million. Equities research analysts expect that Barnes Group Inc. will post 1.62 earnings per share for the current year.

Analysts Set New Price Targets

B has been the topic of several analyst reports. StockNews.com began coverage on shares of Barnes Group in a research report on Friday. They set a "sell" rating on the stock. DA Davidson reiterated a "neutral" rating and issued a $47.50 target price (down from $52.00) on shares of Barnes Group in a research note on Monday, October 7th. Finally, Truist Financial boosted their price target on 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 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.