Bank of New York Mellon Corp Lowers Position in Barnes Group Inc. (NYSE:B)

Bank of New York Mellon Corp lowered its stake in shares of Barnes Group Inc. (NYSE:B) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 315,594 shares of the industrial products company’s stock after selling 7,095 shares during the quarter. Bank of New York Mellon Corp’s holdings in Barnes Group were worth $14,915,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. KBC Group NV grew its position in Barnes Group by 52.4% during the fourth quarter. KBC Group NV now owns 2,186 shares of the industrial products company’s stock worth $103,000 after buying an additional 752 shares in the last quarter. Centiva Capital LP purchased a new stake in Barnes Group in the 3rd quarter worth approximately $212,000. Captrust Financial Advisors bought a new stake in Barnes Group in the third quarter valued at $224,000. Needham Investment Management LLC bought a new position in Barnes Group in the third quarter worth about $242,000. Finally, Quest Partners LLC bought a new stake in shares of Barnes Group during the third quarter valued at approximately $248,000. Institutional investors own 90.82% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Barnes Group in a research note on Monday. They issued a “sell” rating on the stock.

Barnes Group Price Performance

NYSE B opened at $47.48 on Thursday. 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 Inc. has a one year low of $32.00 and a one year high of $47.50. The stock has a 50 day moving average price of $47.42 and a 200-day moving average price of $45.38. The company has a market capitalization of $2.42 billion, a P/E ratio of -61.66 and a beta of 1.32.

Barnes Group 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.