605,521 Shares in Barnes Group Inc. (NYSE:B) Purchased by Simcoe Capital Management LLC

Simcoe Capital Management LLC purchased a new stake in shares of Barnes Group Inc. (NYSE:B) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 605,521 shares of the industrial products company’s stock, valued at approximately $24,469,000. Barnes Group comprises about 3.2% of Simcoe Capital Management LLC’s investment portfolio, making the stock its 10th biggest holding.

Several other large investors have also bought and sold shares of B. Paloma Partners Management Co bought a new position in shares of Barnes Group in the 3rd quarter valued at about $259,000. Verition Fund Management LLC bought a new stake in Barnes Group during the 3rd quarter worth approximately $3,975,000. Captrust Financial Advisors acquired a new stake in Barnes Group in the third quarter worth $224,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Barnes Group by 5.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 89,815 shares of the industrial products company’s stock valued at $3,629,000 after buying an additional 4,541 shares in the last quarter. Finally, Glenmede Trust Co. NA lifted its position in shares of Barnes Group by 25.6% during the third quarter. Glenmede Trust Co. NA now owns 7,430 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 1,515 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Barnes Group Price Performance

B opened at $46.84 on Monday. Barnes Group Inc. has a 12-month low of $25.85 and a 12-month high of $47.40. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of -60.83, a PEG ratio of 3.36 and a beta of 1.35. 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 stock’s 50-day moving average price is $45.39 and its 200 day moving average price is $41.51.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. StockNews.com assumed coverage on shares of Barnes Group in a research note on Tuesday, November 26th. They set a “sell” rating for the company. Truist Financial upped their target price on shares of Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a research report on Tuesday, October 8th. Finally, DA Davidson restated a “neutral” rating and set a $47.50 target price (down previously from $52.00) on shares of Barnes Group in a research note on Monday, October 7th.

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.