Barnes Group Inc. (NYSE:B) Short Interest Update

Barnes Group Inc. (NYSE:B) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 732,500 shares, an increase of 6.6% from the October 15th total of 687,300 shares. Approximately 1.5% of the company’s shares are short sold. Based on an average daily volume of 661,000 shares, the days-to-cover ratio is currently 1.1 days.

Wall Street Analysts Forecast Growth

B has been the topic of several analyst reports. StockNews.com initiated coverage on shares of Barnes Group in a research note on Monday. They issued a “sell” rating on the stock. Truist Financial boosted their price objective on shares of Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a research note on Tuesday, October 8th. Finally, 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.

Hedge Funds Weigh In On Barnes Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Barnes Group by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 5,689,535 shares of the industrial products company’s stock worth $211,366,000 after purchasing an additional 206,351 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Barnes Group by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,587,611 shares of the industrial products company’s stock valued at $148,565,000 after acquiring an additional 60,152 shares in the last quarter. Mason Capital Management LLC lifted its position in Barnes Group by 32.9% in the 2nd quarter. Mason Capital Management LLC now owns 1,050,079 shares of the industrial products company’s stock valued at $43,484,000 after acquiring an additional 259,957 shares in the last quarter. Westwood Holdings Group Inc. bought a new position in Barnes Group in the 2nd quarter valued at about $32,576,000. Finally, Kennedy Capital Management LLC lifted its position in Barnes Group by 10.7% in the 1st quarter. Kennedy Capital Management LLC now owns 753,625 shares of the industrial products company’s stock valued at $27,997,000 after acquiring an additional 72,546 shares in the last quarter. Institutional investors own 90.82% of the company’s stock.

Barnes Group Trading Up 0.1 %

B traded up $0.07 during trading on Tuesday, reaching $46.76. 160,789 shares of the stock traded hands, compared to its average volume of 431,508. The company has a quick ratio of 1.35, a current ratio of 2.28 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $2.38 billion, a PE ratio of -60.70, a P/E/G ratio of 3.21 and a beta of 1.35. The stock’s 50-day moving average is $43.72 and its 200 day moving average is $40.99. Barnes Group has a 12 month low of $25.75 and a 12 month high of $47.40.

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.