Readystate Asset Management LP Makes New $2.07 Million Investment in Barnes Group Inc. (NYSE:B)

Readystate Asset Management LP acquired a new stake in shares of Barnes Group Inc. (NYSE:B - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 51,100 shares of the industrial products company's stock, valued at approximately $2,065,000. Readystate Asset Management LP owned approximately 0.10% of Barnes Group as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Needham Investment Management LLC bought a new position in shares of Barnes Group during the third quarter valued at approximately $242,000. Centiva Capital LP bought a new position in shares of Barnes Group during the third quarter valued at approximately $212,000. Simcoe Capital Management LLC bought a new position in shares of Barnes Group during the third quarter valued at approximately $24,469,000. Paloma Partners Management Co bought a new position in shares of Barnes Group during the third quarter valued at approximately $259,000. Finally, Verition Fund Management LLC bought a new position in shares of Barnes Group during the third quarter valued at approximately $3,975,000. Institutional investors and hedge funds own 90.82% of the company's stock.

Barnes Group Stock Performance

B stock traded up $0.03 on Thursday, reaching $47.03. The company's stock had a trading volume of 277,583 shares, compared to its average volume of 435,458. Barnes Group Inc. has a 52 week low of $27.57 and a 52 week high of $47.40. The company has a market capitalization of $2.40 billion, a P/E ratio of -61.10 and a beta of 1.34. The firm has a fifty day moving average of $45.84 and a two-hundred day moving average of $41.64. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.28 and a quick ratio of 1.35.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on B shares. Truist Financial increased their price objective on Barnes Group from $38.00 to $47.50 and gave the stock a "hold" rating in a report on Tuesday, October 8th. StockNews.com started coverage on Barnes Group in a report on Wednesday. They issued a "sell" rating for the company. Finally, DA Davidson reissued a "neutral" rating and issued a $47.50 price objective (down from $52.00) on shares of Barnes Group in a report on Monday, October 7th.

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.