Tidal Investments LLC Cuts Stake in Barnes Group Inc. (NYSE:B)

Tidal Investments LLC decreased its position in Barnes Group Inc. (NYSE:B) by 2.6% during the 3rd quarter, Holdings Channel reports. The fund owned 12,623 shares of the industrial products company’s stock after selling 340 shares during the quarter. Tidal Investments LLC’s holdings in Barnes Group were worth $510,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of Barnes Group by 17.1% in the third quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 238 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Barnes Group during the 3rd quarter valued at approximately $178,000. Centiva Capital LP acquired a new stake in shares of Barnes Group in the 3rd quarter worth approximately $212,000. Captrust Financial Advisors purchased a new position in Barnes Group in the 3rd quarter valued at approximately $224,000. Finally, Needham Investment Management LLC acquired a new position in Barnes Group during the third quarter worth $242,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Barnes Group Stock Performance

Shares of B opened at $47.16 on Monday. Barnes Group Inc. has a 1 year low of $29.67 and a 1 year high of $47.40. The company’s 50 day simple moving average is $46.82 and its 200 day simple moving average is $42.27. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of -61.25 and a beta of 1.34. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.28.

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.