Barnes Group (NYSE:B) Hits New 12-Month High – What’s Next?

Barnes Group Inc. (NYSE:B) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $47.40 and last traded at $47.18, with a volume of 50573 shares. The stock had previously closed at $47.18.

Analysts Set New Price Targets

B has been the subject of several recent research reports. Truist Financial boosted 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 objective (down from $52.00) on shares of Barnes Group in a research report on Monday, October 7th. Finally, StockNews.com assumed coverage on Barnes Group in a research report on Saturday. They set a “sell” rating on the stock.

Barnes Group Trading Up 0.0 %

The stock has a market cap of $2.40 billion, a P/E ratio of -61.31 and a beta of 1.34. 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 company has a 50-day moving average price of $46.88 and a two-hundred day moving average price of $42.57.

Hedge Funds Weigh In On Barnes Group

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

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.