Barnes Group (NYSE:B) Sets New 1-Year High – Here’s Why

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on B. Truist Financial increased their price objective on shares of Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a research note on Tuesday, October 8th. StockNews.com began coverage on shares of Barnes Group in a report on Monday. They set a “sell” rating for the company. Finally, DA Davidson reaffirmed a “neutral” rating and set a $47.50 price objective (down from $52.00) on shares of Barnes Group in a report on Monday, October 7th.

Barnes Group Stock Performance

The business’s fifty day moving average is $47.03 and its two-hundred day moving average is $43.31. The company has a quick ratio of 1.35, a current ratio of 2.28 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $2.41 billion, a PE ratio of -61.43 and a beta of 1.32.

Institutional Trading of Barnes Group

Institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in shares of Barnes Group by 15.2% during the third quarter. JPMorgan Chase & Co. now owns 92,185 shares of the industrial products company’s stock worth $3,725,000 after purchasing an additional 12,156 shares during the last quarter. Barclays PLC lifted its position in shares of Barnes Group by 9.3% during the third quarter. Barclays PLC now owns 132,462 shares of the industrial products company’s stock worth $5,353,000 after purchasing an additional 11,279 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Barnes Group during the third quarter worth $676,000. XTX Topco Ltd bought a new stake in shares of Barnes Group in the third quarter valued at about $492,000. Finally, Jane Street Group LLC raised its holdings in shares of Barnes Group by 22.9% in the third quarter. Jane Street Group LLC now owns 153,917 shares of the industrial products company’s stock valued at $6,220,000 after acquiring an additional 28,649 shares in the last quarter. 90.82% of the stock is currently owned by 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.