Barnes Group (NYSE:B) Sees Strong Trading Volume – Here’s Why

by · The Markets Daily

Barnes Group Inc. (NYSE:B – Get Free Report) shares saw unusually-strong trading volume on Wednesday . Approximately 498,868 shares changed hands during trading, a decline of 38% from the previous session’s volume of 809,840 shares.The stock last traded at $47.47 and had previously closed at $47.39.

Wall Street Analysts Forecast Growth

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

Read Our Latest Stock Report on Barnes Group

Barnes Group Stock Up 0.2 %

The company has a debt-to-equity ratio of 0.87, a current ratio of 2.28 and a quick ratio of 1.35. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of -61.64 and a beta of 1.32. The firm’s fifty day moving average is $47.07 and its 200-day moving average is $43.49.

Institutional Trading of Barnes Group

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in Barnes Group by 17.1% during the third quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company’s stock worth $66,000 after acquiring an additional 238 shares during the period. KBC Group NV raised its position in shares of Barnes Group by 52.4% during the 4th quarter. KBC Group NV now owns 2,186 shares of the industrial products company’s stock worth $103,000 after purchasing an additional 752 shares during the period. SG Americas Securities LLC bought a new stake in shares of Barnes Group in the 3rd quarter worth approximately $178,000. Centiva Capital LP bought a new stake in shares of Barnes Group in the 3rd quarter worth approximately $212,000. Finally, Captrust Financial Advisors acquired a new position in Barnes Group during the 3rd quarter valued at approximately $224,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

About Barnes Group

(Get Free Report)

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.

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