Harfst & Associates Inc. Reduces Position in Barnes Group Inc. (NYSE:B)

Harfst & Associates Inc. lowered its holdings in Barnes Group Inc. (NYSE:B) by 2.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 129,639 shares of the industrial products company’s stock after selling 2,890 shares during the period. Barnes Group comprises 1.2% of Harfst & Associates Inc.’s portfolio, making the stock its 11th largest position. Harfst & Associates Inc. owned 0.26% of Barnes Group worth $5,239,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. UniSuper Management Pty Ltd bought a new stake in shares of Barnes Group in the 1st quarter worth about $497,000. Renaissance Technologies LLC raised its stake in Barnes Group by 158.2% during the second 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. lifted its holdings in 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 buying an additional 206,351 shares during the last quarter. William B. Walkup & Associates Inc. acquired a new position in shares of Barnes Group in the 2nd quarter worth approximately $714,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Barnes Group by 22.0% in the 1st quarter. Russell Investments Group Ltd. now owns 383,359 shares of the industrial products company’s stock valued at $14,242,000 after acquiring an additional 69,097 shares during the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barnes Group Stock Performance

B traded up $0.08 during trading on Friday, reaching $46.61. 992,787 shares of the company were exchanged, compared to its average volume of 409,020. Barnes Group Inc. has a 52 week low of $18.79 and a 52 week high of $46.72. The company has a current ratio of 2.24, a quick ratio of 1.33 and a debt-to-equity ratio of 0.90. The firm has a 50 day moving average of $40.25 and a 200 day moving average of $39.26. The stock has a market cap of $2.36 billion, a P/E ratio of 517.78, a PEG ratio of 2.87 and a beta of 1.38.

Barnes Group (NYSE:B) last released its quarterly earnings results on Friday, July 26th. The industrial products company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). The firm had revenue of $382.23 million for the quarter, compared to the consensus estimate of $398.80 million. Barnes Group had a positive return on equity of 5.21% and a negative net margin of 3.74%. On average, sell-side analysts forecast that Barnes Group Inc. will post 1.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

B has been the subject of a number of research reports. Truist Financial lifted their price objective on shares of Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a report on Tuesday, October 8th. DA Davidson restated a “neutral” rating and issued a $47.50 price target (down from $52.00) on shares of Barnes Group in a research report on Monday, October 7th. Finally, StockNews.com began coverage on shares of Barnes Group in a research report on Thursday. They set a “sell” rating for the company.

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.