Charles Schwab Investment Management Inc. Decreases Stock Holdings in Barnes Group Inc. (NYSE:B)

Charles Schwab Investment Management Inc. reduced its holdings in shares of Barnes Group Inc. (NYSE:B) by 2.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 820,924 shares of the industrial products company’s stock after selling 22,574 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Barnes Group were worth $33,174,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of Barnes Group by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,587,611 shares of the industrial products company’s stock worth $148,565,000 after purchasing an additional 60,152 shares in the last quarter. Mason Capital Management LLC raised its holdings in Barnes Group by 32.9% in the second quarter. Mason Capital Management LLC now owns 1,050,079 shares of the industrial products company’s stock valued at $43,484,000 after acquiring an additional 259,957 shares in the last quarter. Westwood Holdings Group Inc. acquired a new stake in Barnes Group in the second quarter valued at $32,576,000. Patriot Financial Group Insurance Agency LLC raised its holdings in 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 acquiring an additional 47,821 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Barnes Group by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 391,181 shares of the industrial products company’s stock valued at $16,199,000 after acquiring an additional 2,942 shares in the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barnes Group Stock Performance

Shares of B opened at $47.06 on Wednesday. The firm has a 50-day moving average price of $45.54 and a 200 day moving average price of $41.56. The firm has a market capitalization of $2.40 billion, a PE ratio of -61.12 and a beta of 1.34. The company has a quick ratio of 1.35, a current ratio of 2.28 and a debt-to-equity ratio of 0.87. Barnes Group Inc. has a 52-week low of $26.95 and a 52-week high of $47.40.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on B shares. StockNews.com started coverage on shares of Barnes Group in a report on Wednesday. They set a “sell” rating on the stock. Truist Financial upped their price target on shares of Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a research report on Tuesday, October 8th. Finally, DA Davidson restated a “neutral” rating and set a $47.50 price target (down previously from $52.00) on shares of Barnes Group in a research report on Monday, October 7th.

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.