Choate Investment Advisors Decreases Stock Holdings in Barnes Group Inc. (NYSE:B)

Choate Investment Advisors lowered its holdings in Barnes Group Inc. (NYSE:B) by 50.0% during the 4th quarter, Holdings Channel reports. The firm owned 103,053 shares of the industrial products company’s stock after selling 103,197 shares during the period. Choate Investment Advisors’ holdings in Barnes Group were worth $4,870,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC boosted its position in Barnes Group by 117.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 621 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 336 shares during the last quarter. Vestcor Inc purchased a new position in Barnes Group in the fourth quarter worth $56,000. KBC Group NV boosted its position in Barnes Group by 52.4% in the fourth quarter. KBC Group NV now owns 2,186 shares of the industrial products company’s stock worth $103,000 after purchasing an additional 752 shares during the last quarter. Atria Investments Inc bought a new stake in shares of Barnes Group in the fourth quarter valued at $203,000. Finally, Centiva Capital LP bought a new stake in shares of Barnes Group in the third quarter valued at $212,000. 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 debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.28. Barnes Group Inc. has a 52-week low of $32.00 and a 52-week high of $47.50. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of -61.66 and a beta of 1.32. The business’s fifty day moving average is $47.43 and its 200 day moving average is $45.49.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Barnes Group in a research note on Monday, March 10th. They issued a “sell” rating on the stock.

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.