Envestnet Asset Management Inc. Lowers Stock Position in Barnes Group Inc. (NYSE:B)

Envestnet Asset Management Inc. decreased its position in shares of Barnes Group Inc. (NYSE:B) by 5.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,230 shares of the industrial products company’s stock after selling 1,003 shares during the period. Envestnet Asset Management Inc.’s holdings in Barnes Group were worth $814,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Alpine Associates Management Inc. bought a new stake in Barnes Group during the 4th quarter valued at approximately $19,491,000. Strategic Financial Concepts LLC grew its holdings in Barnes Group by 4,626.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 384,649 shares of the industrial products company’s stock valued at $18,179,000 after buying an additional 376,510 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Barnes Group by 280.7% during the fourth quarter. JPMorgan Chase & Co. now owns 350,933 shares of the industrial products company’s stock valued at $16,585,000 after buying an additional 258,748 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC purchased a new position in shares of Barnes Group in the fourth quarter worth $9,768,000. Finally, Wealthfront Advisers LLC bought a new position in shares of Barnes Group during the fourth quarter worth $8,426,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barnes Group Stock Performance

NYSE:B opened at $47.48 on Friday. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -61.66 and a beta of 1.32. Barnes Group Inc. has a 1 year low of $33.76 and a 1 year high of $47.50. The stock’s 50 day simple moving average is $47.48 and its two-hundred day simple moving average is $47.23. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.28 and a quick ratio of 1.35.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Barnes Group in a research note on Sunday, April 27th. 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.