Washington Trust Bank Makes New Investment in Barnes Group Inc. (NYSE:B)

Washington Trust Bank acquired a new position in Barnes Group Inc. (NYSE:B) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 176,449 shares of the industrial products company’s stock, valued at approximately $8,339,000.

Other institutional investors have also added to or reduced their stakes in the company. Blueshift Asset Management LLC purchased a new stake in shares of Barnes Group in the fourth quarter worth $297,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Barnes Group by 205.0% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,787 shares of the industrial products company’s stock worth $1,408,000 after acquiring an additional 20,021 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of Barnes Group by 132.5% in the fourth quarter. Intech Investment Management LLC now owns 39,442 shares of the industrial products company’s stock worth $1,864,000 after acquiring an additional 22,478 shares during the last quarter. Cibc World Markets Corp purchased a new stake in shares of Barnes Group in the fourth quarter worth $205,000. Finally, Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Barnes Group in the fourth quarter worth $1,182,000. Institutional investors own 90.82% of the company’s stock.

Barnes Group Stock Performance

Barnes Group stock opened at $47.48 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.28 and a quick ratio of 1.35. Barnes Group Inc. has a one year low of $32.65 and a one year high of $47.50. The stock has a market capitalization of $2.42 billion, a PE ratio of -61.66 and a beta of 1.32. The business’s fifty day moving average is $47.46 and its 200 day moving average is $45.70.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Barnes Group in a research note on Tuesday. 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.