605,521 Shares in Barnes Group Inc. (NYSE:B) Acquired by Simcoe Capital Management LLC

Simcoe Capital Management LLC bought a new stake in shares of Barnes Group Inc. (NYSE:B - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 605,521 shares of the industrial products company's stock, valued at approximately $24,469,000. Barnes Group comprises 3.2% of Simcoe Capital Management LLC's investment portfolio, making the stock its 10th largest holding. Simcoe Capital Management LLC owned about 1.19% of Barnes Group as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in B. Paloma Partners Management Co acquired a new position in shares of Barnes Group during the 3rd quarter valued at about $259,000. Verition Fund Management LLC acquired a new stake in Barnes Group in the 3rd quarter valued at about $3,975,000. Captrust Financial Advisors bought a new position in Barnes Group in the 3rd quarter worth approximately $224,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Barnes Group by 5.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 89,815 shares of the industrial products company's stock valued at $3,629,000 after acquiring an additional 4,541 shares during the period. Finally, Glenmede Trust Co. NA boosted its stake in shares of Barnes Group by 25.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 7,430 shares of the industrial products company's stock valued at $300,000 after purchasing an additional 1,515 shares during the last quarter. Institutional investors and hedge funds own 90.82% of the company's stock.

Wall Street Analysts Forecast Growth

B has been the topic of several recent analyst reports. Truist Financial lifted their price objective on Barnes Group from $38.00 to $47.50 and gave the company a "hold" rating in a report on Tuesday, October 8th. StockNews.com began coverage on shares of Barnes Group in a research note on Tuesday, November 26th. They issued a "sell" rating for the company. Finally, DA Davidson reissued a "neutral" rating and issued a $47.50 price target (down previously from $52.00) on shares of Barnes Group in a research note on Monday, October 7th.

Barnes Group Stock Performance

NYSE:B traded up $0.09 during mid-day trading on Monday, hitting $46.93. 499,416 shares of the stock were exchanged, compared to its average volume of 434,242. The firm's 50-day simple moving average is $45.39 and its 200 day simple moving average is $41.52. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of -61.49, a price-to-earnings-growth ratio of 3.36 and a beta of 1.35. Barnes Group Inc. has a fifty-two week low of $26.95 and a fifty-two week high of $47.40. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.28.

Barnes Group 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.