Barnes Group (NYSE:B) Hits New 1-Year High – What’s Next?

Barnes Group Inc. (NYSE:B)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $47.43 and last traded at $47.33, with a volume of 109791 shares changing hands. The stock had previously closed at $47.31.

Analysts Set New Price Targets

A number of analysts have commented on the company. DA Davidson restated a “neutral” rating and issued a $47.50 price target (down previously from $52.00) on shares of Barnes Group in a research report on Monday, October 7th. Truist Financial increased their price target 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, StockNews.com initiated coverage on Barnes Group in a research note on Monday, January 13th. They set a “sell” rating for the company.

Barnes Group Price Performance

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 stock has a 50 day moving average of $47.04 and a 200-day moving average of $43.38.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in Barnes Group by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,587,611 shares of the industrial products company’s stock worth $148,565,000 after acquiring 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. Intech Investment Management LLC acquired a new stake in Barnes Group during the 2nd quarter worth about $277,000. Sei Investments Co. lifted its position in Barnes Group by 3.0% during the 2nd quarter. Sei Investments Co. now owns 327,984 shares of the industrial products company’s stock worth $13,582,000 after acquiring an additional 9,609 shares during the period. Finally, Westwood Holdings Group Inc. acquired a new stake in Barnes Group during the 2nd quarter worth about $32,576,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

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.