Equities research analysts at StockNews.com began coverage on shares of Barnes Group (NYSE:B – Get Free Report) in a report released on Friday. The brokerage set a “sell” rating on the industrial products company’s stock.
Several other equities research analysts have also recently weighed in on the company. 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. DA Davidson reiterated a “neutral” rating and set a $47.50 price objective (down from $52.00) on shares of Barnes Group in a research report on Monday, October 7th.
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Barnes Group Stock Performance
Institutional Investors Weigh In On Barnes Group
A number of hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its position in shares of Barnes Group by 158.2% during the second quarter. Renaissance Technologies LLC now owns 50,600 shares of the industrial products company’s stock worth $2,095,000 after purchasing an additional 31,000 shares during the period. Jane Street Group LLC raised its holdings in Barnes Group by 22.9% during the third quarter. Jane Street Group LLC now owns 153,917 shares of the industrial products company’s stock worth $6,220,000 after buying an additional 28,649 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Barnes Group by 9.6% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 548,088 shares of the industrial products company’s stock valued at $22,148,000 after buying an additional 47,821 shares in the last quarter. William B. Walkup & Associates Inc. acquired a new position in shares of Barnes Group during the second quarter valued at about $714,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Barnes Group during the third quarter worth about $432,000. Institutional investors and hedge funds own 90.82% of the company’s stock.
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.
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