Corebridge Financial Inc. Sells 1,922 Shares of Barnes Group Inc. (NYSE:B)

Corebridge Financial Inc. lessened its holdings in shares of Barnes Group Inc. (NYSE:B) by 7.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,706 shares of the industrial products company’s stock after selling 1,922 shares during the quarter. Corebridge Financial Inc.’s holdings in Barnes Group were worth $1,168,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its position in Barnes Group by 117.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 621 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 336 shares in the last quarter. Vestcor Inc purchased a new position in shares of Barnes Group in the 4th quarter valued at approximately $56,000. KBC Group NV boosted its position in shares of Barnes Group by 52.4% during the fourth quarter. KBC Group NV now owns 2,186 shares of the industrial products company’s stock valued at $103,000 after purchasing an additional 752 shares in the last quarter. Atria Investments Inc bought a new stake in shares of Barnes Group during the fourth quarter valued at approximately $203,000. Finally, Cibc World Markets Corp purchased a new stake in Barnes Group in the fourth quarter worth $205,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barnes Group Stock Performance

Shares of B stock opened at $47.48 on Friday. 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 company has a 50 day moving average price of $47.48 and a 200-day moving average price of $46.44. Barnes Group Inc. has a 52 week low of $32.65 and a 52 week high of $47.50. The firm has a market capitalization of $2.42 billion, a PE ratio of -61.66 and a beta of 1.32.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Barnes Group in a report on Thursday. They issued a “sell” rating on the stock.

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.