Barnes Group Inc. (NYSE:B) Shares Sold by Wooster Corthell Wealth Management Inc.

Wooster Corthell Wealth Management Inc. reduced its stake in shares of Barnes Group Inc. (NYSE:B) by 8.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,934 shares of the industrial products company’s stock after selling 6,905 shares during the period. Barnes Group accounts for about 0.6% of Wooster Corthell Wealth Management Inc.’s holdings, making the stock its 23rd biggest position. Wooster Corthell Wealth Management Inc.’s holdings in Barnes Group were worth $2,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its position in Barnes Group by 17.1% during 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. QRG Capital Management Inc. boosted its holdings in shares of Barnes Group by 4.1% during the second quarter. QRG Capital Management Inc. now owns 6,073 shares of the industrial products company’s stock worth $251,000 after purchasing an additional 240 shares during the last quarter. Texas Permanent School Fund Corp grew its position in shares of Barnes Group by 0.6% in the second quarter. Texas Permanent School Fund Corp now owns 44,613 shares of the industrial products company’s stock valued at $1,847,000 after purchasing an additional 263 shares during the period. Louisiana State Employees Retirement System increased its stake in Barnes Group by 1.6% in the second quarter. Louisiana State Employees Retirement System now owns 25,500 shares of the industrial products company’s stock valued at $1,056,000 after purchasing an additional 400 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its position in Barnes Group by 5.1% during the third quarter. Handelsbanken Fonder AB now owns 10,355 shares of the industrial products company’s stock worth $418,000 after buying an additional 500 shares during the period. 90.82% of the stock is owned by institutional investors and hedge funds.

Barnes Group Trading Up 0.1 %

Shares of NYSE B traded up $0.03 during midday trading on Tuesday, hitting $46.57. The stock had a trading volume of 236,763 shares, compared to its average volume of 409,036. The company has a quick ratio of 1.33, a current ratio of 2.24 and a debt-to-equity ratio of 0.90. Barnes Group Inc. has a 1-year low of $18.79 and a 1-year high of $46.72. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 517.33, a PEG ratio of 2.87 and a beta of 1.38. The company has a fifty day moving average price of $40.44 and a 200 day moving average price of $39.40.

Barnes Group (NYSE:B) last announced its quarterly earnings results on Friday, July 26th. The industrial products company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Barnes Group had a negative net margin of 3.74% and a positive return on equity of 5.21%. The business had revenue of $382.23 million for the quarter, compared to analyst estimates of $398.80 million. On average, analysts predict that Barnes Group Inc. will post 1.62 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on B shares. Truist Financial lifted their price target on Barnes Group from $38.00 to $47.50 and gave the company a “hold” rating in a report on Tuesday, October 8th. DA Davidson reaffirmed a “neutral” rating and set a $47.50 price target (down previously from $52.00) on shares of Barnes Group in a research note on Monday, October 7th. Finally, StockNews.com started coverage on shares of Barnes Group in a research note on Thursday, October 17th. They set a “sell” rating for the company.

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.