Alpine Associates Management Inc. Takes $19.49 Million Position in Barnes Group Inc. (NYSE:B)

Alpine Associates Management Inc. purchased a new stake in shares of Barnes Group Inc. (NYSE:B) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 412,414 shares of the industrial products company’s stock, valued at approximately $19,491,000. Barnes Group comprises about 1.2% of Alpine Associates Management Inc.’s investment portfolio, making the stock its 26th largest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Barnes Group by 2.1% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 559,772 shares of the industrial products company’s stock valued at $26,455,000 after buying an additional 11,684 shares during the last quarter. Jane Street Group LLC increased its position in Barnes Group by 22.9% in the 3rd quarter. Jane Street Group LLC now owns 153,917 shares of the industrial products company’s stock valued at $6,220,000 after acquiring an additional 28,649 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Barnes Group by 15.2% during the third quarter. JPMorgan Chase & Co. now owns 92,185 shares of the industrial products company’s stock worth $3,725,000 after purchasing an additional 12,156 shares in the last quarter. Barclays PLC grew its stake in shares of Barnes Group by 9.3% during the third quarter. Barclays PLC now owns 132,462 shares of the industrial products company’s stock valued at $5,353,000 after purchasing an additional 11,279 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of Barnes Group during the third quarter valued at approximately $432,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Barnes Group Stock Performance

Shares of NYSE:B opened at $47.48 on Friday. Barnes Group Inc. has a 1-year low of $32.00 and a 1-year high of $47.50. The business has a 50-day moving average price of $47.41 and a two-hundred day moving average price of $45.19. The company has a current ratio of 2.28, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $2.42 billion, a P/E ratio of -61.66 and a beta of 1.32.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Barnes Group in a research report on Sunday, March 2nd. They issued 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.