Short Interest in Barnes Group Inc. (NYSE:B) Grows By 6.6%

Barnes Group Inc. (NYSE:B) was the target of a large increase in short interest in 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. Currently, 1.5% of the company’s stock are short sold. Based on an average trading volume of 661,000 shares, the days-to-cover ratio is presently 1.1 days.

Barnes Group Stock Performance

Shares of B stock traded up $0.07 during trading hours on Tuesday, hitting $46.76. 160,789 shares of the company were exchanged, compared to its average volume of 431,508. The firm has a fifty day simple moving average of $43.72 and a 200 day simple moving average of $40.99. The company has a current ratio of 2.28, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. Barnes Group has a 52-week low of $25.75 and a 52-week high of $47.40. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of -60.70, a P/E/G ratio of 3.21 and a beta of 1.35.

Analyst Upgrades and Downgrades

Several research firms have commented on B. DA Davidson reiterated a “neutral” rating and issued a $47.50 price objective (down previously from $52.00) on shares of Barnes Group in a research note on Monday, October 7th. Truist Financial increased their price objective on shares of Barnes Group from $38.00 to $47.50 and gave the company a “hold” rating in a research note on Tuesday, October 8th. Finally, StockNews.com began coverage on shares of Barnes Group in a research note on Monday. They issued a “sell” rating for the company.

Institutional Investors Weigh In On Barnes Group

Several large investors have recently modified their holdings of B. UniSuper Management Pty Ltd purchased a new position in Barnes Group in the 1st quarter valued at approximately $497,000. Renaissance Technologies LLC grew its stake in Barnes Group by 158.2% in the 2nd quarter. Renaissance Technologies LLC now owns 50,600 shares of the industrial products company’s stock valued at $2,095,000 after buying an additional 31,000 shares in the last quarter. Vanguard Group Inc. grew its stake in Barnes Group by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 5,689,535 shares of the industrial products company’s stock valued at $211,366,000 after buying an additional 206,351 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in 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 valued at $22,148,000 after buying an additional 47,821 shares in the last quarter. Finally, William B. Walkup & Associates Inc. purchased a new position in Barnes Group in the 2nd quarter valued at approximately $714,000. Hedge funds and other institutional investors own 90.82% of the company’s 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.