Barnes Group Inc. (NYSE:B) Short Interest Up 7.4% in December

Barnes Group Inc. (NYSE:B) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 790,000 shares, an increase of 7.4% from the November 30th total of 735,500 shares. Based on an average daily trading volume, of 800,100 shares, the short-interest ratio is currently 1.0 days. Currently, 1.6% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

B has been the topic of several research analyst reports. Truist Financial boosted their price objective on Barnes Group from $38.00 to $47.50 and gave the company a “hold” rating in a report on Tuesday, October 8th. StockNews.com initiated coverage on Barnes Group in a research note on Saturday. They set a “sell” rating for the company. Finally, DA Davidson reissued a “neutral” rating and issued a $47.50 price objective (down from $52.00) on shares of Barnes Group in a research report on Monday, October 7th.

Institutional Trading of Barnes Group

Several large investors have recently bought and sold shares of B. Renaissance Technologies LLC grew its holdings in Barnes Group by 158.2% during 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 during the last quarter. Jane Street Group LLC lifted its stake in shares of Barnes Group by 22.9% during the third quarter. Jane Street Group LLC now owns 153,917 shares of the industrial products company’s stock valued at $6,220,000 after buying an additional 28,649 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its position in Barnes Group by 9.6% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 548,088 shares of the industrial products company’s stock worth $22,148,000 after acquiring an additional 47,821 shares during the last quarter. William B. Walkup & Associates Inc. purchased a new stake in Barnes Group in the 2nd quarter worth approximately $714,000. Finally, Barclays PLC raised its holdings in Barnes Group by 9.3% in the 3rd quarter. Barclays PLC now owns 132,462 shares of the industrial products company’s stock valued at $5,353,000 after acquiring an additional 11,279 shares during the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barnes Group Stock Performance

NYSE:B remained flat at $47.26 during mid-day trading on Wednesday. 586,718 shares of the company were exchanged, compared to its average volume of 449,488. 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’s fifty day moving average price is $46.90 and its 200 day moving average price is $42.75. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of -61.38 and a beta of 1.34. Barnes Group has a 1 year low of $29.67 and a 1 year high of $47.40.

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.