Barnes Group Inc. (NYSE:B) Shares Acquired by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. raised its holdings in shares of Barnes Group Inc. (NYSE:B) by 6.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,859 shares of the industrial products company’s stock after acquiring an additional 309 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Barnes Group were worth $230,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. LPL Financial LLC boosted its stake in Barnes Group by 5.4% in the 4th quarter. LPL Financial LLC now owns 5,591 shares of the industrial products company’s stock worth $264,000 after buying an additional 285 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Barnes Group by 117.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 621 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 336 shares during the last quarter. Bank of Montreal Can increased its position in Barnes Group by 5.3% during the fourth quarter. Bank of Montreal Can now owns 9,826 shares of the industrial products company’s stock worth $464,000 after purchasing an additional 496 shares during the last quarter. KBC Group NV raised its stake in Barnes Group by 52.4% during the fourth quarter. KBC Group NV now owns 2,186 shares of the industrial products company’s stock worth $103,000 after purchasing an additional 752 shares during the period. Finally, Swiss National Bank grew its stake in shares of Barnes Group by 1.0% during the 4th quarter. Swiss National Bank now owns 95,000 shares of the industrial products company’s stock valued at $4,490,000 after buying an additional 900 shares during the period. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barnes Group Price Performance

Barnes Group stock opened at $47.48 on Tuesday. The firm has a fifty day moving average of $47.48 and a 200-day moving average of $47.18. Barnes Group Inc. has a 52-week low of $32.65 and a 52-week high of $47.50. 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 firm has a market capitalization of $2.42 billion, a P/E ratio of -61.66 and a beta of 1.32.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Barnes Group in a report on Saturday. They issued a “sell” rating on the stock.

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.