Centiva Capital LP Invests $212,000 in Barnes Group Inc. (NYSE:B)

Centiva Capital LP acquired a new stake in Barnes Group Inc. (NYSE:B) in the third quarter, according to its most recent filing with the SEC. The fund acquired 5,244 shares of the industrial products company’s stock, valued at approximately $212,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. QRG Capital Management Inc. boosted its holdings in Barnes Group by 4.1% in the 2nd quarter. QRG Capital Management Inc. now owns 6,073 shares of the industrial products company’s stock valued at $251,000 after purchasing an additional 240 shares during the period. Louisiana State Employees Retirement System raised its position in Barnes Group by 1.6% during 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 in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Barnes Group by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 391,181 shares of the industrial products company’s stock worth $16,199,000 after purchasing an additional 2,942 shares in the last quarter. Roubaix Capital LLC increased its position in shares of Barnes Group by 35.2% during the 2nd quarter. Roubaix Capital LLC now owns 244,706 shares of the industrial products company’s stock valued at $10,133,000 after purchasing an additional 63,755 shares during the last quarter. Finally, Texas Permanent School Fund Corp lifted its position in Barnes Group by 0.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 44,613 shares of the industrial products company’s stock worth $1,847,000 after buying an additional 263 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. StockNews.com initiated coverage on Barnes Group in a research note on Thursday. They issued a “sell” rating on the stock. Truist Financial raised their target price on Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a research note on Tuesday, October 8th. Finally, DA Davidson reiterated a “neutral” rating and issued a $47.50 price objective (down previously from $52.00) on shares of Barnes Group in a report on Monday, October 7th.

Barnes Group Price Performance

Shares of B opened at $47.05 on Friday. The firm has a market cap of $2.40 billion, a PE ratio of -61.10 and a beta of 1.34. Barnes Group Inc. has a 1-year low of $28.39 and a 1-year high of $47.40. 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 firm has a fifty day simple moving average of $46.72 and a two-hundred day simple moving average of $41.90.

About Barnes Group

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.