Chicago Capital Management LLC Makes New $2.34 Million Investment in Barnes Group Inc. (NYSE:B)

Chicago Capital Management LLC bought a new stake in Barnes Group Inc. (NYSE:B) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 49,553 shares of the industrial products company’s stock, valued at approximately $2,342,000. Barnes Group comprises approximately 1.4% of Chicago Capital Management LLC’s portfolio, making the stock its 29th biggest position. Chicago Capital Management LLC owned approximately 0.10% of Barnes Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Smartleaf Asset Management LLC raised 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 valued at $29,000 after purchasing an additional 336 shares during the period. Vestcor Inc bought a new stake in shares of Barnes Group during the 4th quarter valued at $56,000. KBC Group NV raised its stake in shares of Barnes Group by 52.4% during the 4th 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 during the period. Atria Investments Inc purchased a new stake in Barnes Group during the 4th quarter worth about $203,000. Finally, Cibc World Markets Corp bought a new position in Barnes Group in the 4th quarter worth about $205,000. 90.82% of the stock is owned by institutional investors.

Barnes Group Price Performance

Shares of NYSE:B opened at $47.48 on Wednesday. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -61.66 and a beta of 1.32. Barnes Group Inc. has a one year low of $32.65 and a one year high of $47.50. The company’s fifty day moving average price is $47.46 and its 200-day moving average price is $45.95. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.28 and a quick ratio of 1.35.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Barnes Group in a research report on Wednesday. They issued a “sell” rating for the company.

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.