Principal Financial Group Inc. Sells 34,243 Shares of Barnes Group Inc. (NYSE:B)

Principal Financial Group Inc. decreased its holdings in shares of Barnes Group Inc. (NYSE:B - Free Report) by 13.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 215,445 shares of the industrial products company's stock after selling 34,243 shares during the period. Principal Financial Group Inc. owned about 0.42% of Barnes Group worth $8,706,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. QRG Capital Management Inc. increased its holdings in Barnes Group by 13.0% during the 3rd quarter. QRG Capital Management Inc. now owns 6,864 shares of the industrial products company's stock valued at $277,000 after purchasing an additional 791 shares in the last quarter. Roubaix Capital LLC lifted its position in Barnes Group by 0.3% during the 3rd quarter. Roubaix Capital LLC now owns 245,477 shares of the industrial products company's stock worth $9,920,000 after buying an additional 771 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in Barnes Group by 9.6% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 548,088 shares of the industrial products company's stock worth $22,148,000 after acquiring an additional 47,821 shares during the last quarter. Jade Capital Advisors LLC acquired a new stake in Barnes Group in the 3rd quarter valued at about $606,000. Finally, GAMMA Investing LLC raised its stake in shares of Barnes Group by 17.1% in the third quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company's stock worth $66,000 after acquiring an additional 238 shares during the last quarter. 90.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. StockNews.com began coverage on shares of Barnes Group in a report on Monday. They issued a "sell" rating for the company. Truist Financial lifted 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. Finally, DA Davidson reiterated a "neutral" rating and issued a $47.50 price target (down previously from $52.00) on shares of Barnes Group in a report on Monday, October 7th.

Barnes Group Trading Up 0.1 %

Shares of B stock traded up $0.07 during trading hours on Tuesday, reaching $46.76. The company had a trading volume of 160,789 shares, compared to its average volume of 431,508. Barnes Group Inc. has a 1-year low of $25.75 and a 1-year high of $47.40. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.28 and a quick ratio of 1.35. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of -60.70, a P/E/G ratio of 3.21 and a beta of 1.35. The company has a 50 day moving average of $43.72 and a 200 day moving average of $40.99.

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.