Simcoe Capital Management LLC Acquires Shares of 605,521 Barnes Group Inc. (NYSE:B)

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 filing with the Securities & Exchange Commission. The institutional investor purchased 605,521 shares of the industrial products company’s stock, valued at approximately $24,469,000. Barnes Group accounts for 3.2% of Simcoe Capital Management LLC’s holdings, making the stock its 10th largest position. Simcoe Capital Management LLC owned 1.19% of Barnes Group at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of B. GAMMA Investing LLC increased its holdings in shares of Barnes Group by 17.1% during the third quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company’s stock valued at $66,000 after acquiring an additional 238 shares in the last quarter. SG Americas Securities LLC purchased a new position in Barnes Group in the 3rd quarter worth approximately $178,000. Captrust Financial Advisors bought a new stake in Barnes Group in the 3rd quarter worth approximately $224,000. Quest Partners LLC bought a new stake in Barnes Group in the 3rd quarter worth approximately $248,000. Finally, QRG Capital Management Inc. increased its position in shares of Barnes Group by 4.1% during the 2nd quarter. QRG Capital Management Inc. now owns 6,073 shares of the industrial products company’s stock valued at $251,000 after purchasing an additional 240 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors.

Barnes Group Trading Down 0.0 %

NYSE: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 capitalization of $2.39 billion, a PE ratio of -60.83, a price-to-earnings-growth ratio of 3.36 and a beta of 1.35. 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 business’s 50-day moving average is $45.39 and its two-hundred day moving average is $41.51.

Analysts Set New Price Targets

Several brokerages recently issued reports on B. Truist Financial upped their target price on Barnes Group from $38.00 to $47.50 and gave the company a “hold” rating in a research report on Tuesday, October 8th. StockNews.com initiated coverage on Barnes Group in a report on Tuesday, November 26th. They issued a “sell” rating for the company. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $47.50 price objective (down from $52.00) on shares of Barnes Group in a research note on Monday, October 7th.

About Barnes Group

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.