Needham Investment Management LLC Buys Shares of 6,000 Barnes Group Inc. (NYSE:B)

Needham Investment Management LLC purchased a new position in Barnes Group Inc. (NYSE:B) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,000 shares of the industrial products company’s stock, valued at approximately $242,000.

Several other large investors have also recently made changes to their positions in B. Dimensional Fund Advisors LP boosted its holdings in shares of Barnes Group by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,587,611 shares of the industrial products company’s stock worth $148,565,000 after purchasing an additional 60,152 shares during the last quarter. Mason Capital Management LLC lifted its position in Barnes Group by 32.9% during the second quarter. Mason Capital Management LLC now owns 1,050,079 shares of the industrial products company’s stock worth $43,484,000 after buying an additional 259,957 shares in the last quarter. Westwood Holdings Group Inc. acquired a new position in Barnes Group during the second quarter worth $32,576,000. Simcoe Capital Management LLC purchased a new stake in Barnes Group in the 3rd quarter valued at $24,469,000. Finally, Patriot Financial Group Insurance Agency LLC increased its stake in shares of Barnes Group by 9.6% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 548,088 shares of the industrial products company’s stock worth $22,148,000 after acquiring an additional 47,821 shares during the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. DA Davidson reaffirmed a “neutral” rating and set a $47.50 price target (down previously from $52.00) on shares of Barnes Group in a research report on Monday, October 7th. StockNews.com started coverage on Barnes Group in a research note on Wednesday. They issued a “sell” rating on the stock. Finally, Truist Financial raised their price objective on Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a research report on Tuesday, October 8th.

Barnes Group Price Performance

Shares of B opened at $47.06 on Wednesday. Barnes Group Inc. has a twelve month low of $26.95 and a twelve month high of $47.40. 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 firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of -61.12 and a beta of 1.34. The firm’s fifty day simple moving average is $45.54 and its 200-day simple moving average is $41.56.

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.