Market Runner: What’s in Barnes Group Inc. After Reaching 52-Week High?

Market Runner: What's in Barnes Group Inc. After Reaching 52 Week High?

The stock of Barnes Group Inc. (NYSE:B) hit a new 52-week high and has $62.06 target or 43.00% above today’s $43.40 share price. The 9 months bullish chart indicates low risk for the $2.42B company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $62.06 price target is reached, the company will be worth $1.04 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 158,298 shares traded hands. Barnes Group Inc. (NYSE:B) has risen 20.15% since April 11, 2016 and is uptrending. It has outperformed by 14.01% the S&P500.

Barnes Group Inc. (NYSE:B) Ratings Coverage

Out of 6 analysts covering Barnes Group (NYSE:B), 4 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 67% are positive. Barnes Group has been the topic of 13 analyst reports since July 28, 2015 according to StockzIntelligence Inc. Buckingham Research initiated Barnes Group Inc. (NYSE:B) on Monday, October 19 with “Neutral” rating. The firm has “Outperform” rating by Oppenheimer given on Friday, February 12. DA Davidson initiated the shares of B in a report on Friday, December 11 with “Neutral” rating. The rating was upgraded by Sidoti on Tuesday, January 12 to “Buy”. Oppenheimer maintained the shares of B in a report on Monday, October 26 with “Outperform” rating. Oppenheimer upgraded Barnes Group Inc. (NYSE:B) on Friday, August 7 to “Outperform” rating. Deutsche Bank upgraded the shares of B in a report on Thursday, April 7 to “Buy” rating.

According to Zacks Investment Research, “Barnes Group Inc. is an international manufacturer of precision metal parts and distributor of industrial supplies, serving a wide range of markets and customers.”

Insitutional Activity: The institutional sentiment decreased to 0.92 in 2016 Q2. Its down 0.78, from 1.7 in 2016Q1. The ratio dived, as 14 funds sold all Barnes Group Inc. shares owned while 69 reduced positions. 21 funds bought stakes while 55 increased positions. They now own 44.00 million shares or 2.38% more from 42.98 million shares in 2016Q1.
Moreover, Wcm Inv Management Ca has 0.14% invested in Barnes Group Inc. (NYSE:B) for 266,042 shares. Allianz Asset Ag holds 0.03% of its portfolio in Barnes Group Inc. (NYSE:B) for 1.42M shares. Panagora Asset Mngmt owns 25,723 shares or 0% of their US portfolio. Springbok Cap Limited Liability accumulated 0% or 505 shares. Babson Ltd Liability has 0.01% invested in the company for 7,000 shares. The New York-based Goldman Sachs Group Inc Incorporated has invested 0.01% in Barnes Group Inc. (NYSE:B). Smithfield Tru Com holds 0.04% or 6,860 shares in its portfolio. Arizona State Retirement System reported 26,226 shares or 0.01% of all its holdings. Tudor Et Al has invested 0.01% of its portfolio in Barnes Group Inc. (NYSE:B). Gamco Et Al last reported 16,800 shares in the company. Foundry Ptnrs Limited Liability Co accumulated 0.67% or 357,900 shares. Ftb Advisors Incorporated accumulated 0% or 922 shares. Envestnet Asset Mgmt reported 12,082 shares or 0% of all its holdings. Commonwealth Equity Inc holds 0% of its portfolio in Barnes Group Inc. (NYSE:B) for 6,811 shares. Sector Pension Invest Board accumulated 35,636 shares or 0.01% of the stock.

Insider Transactions: Since May 20, 2016, the stock had 0 insider purchases, and 8 insider sales for $2.01 million net activity. Shares for $189,131 were sold by EDWARDS DAWN N on Wednesday, August 10. 730 shares were sold by BARNES THOMAS O, worth $30,267 on Monday, August 29. $145,101 worth of Barnes Group Inc. (NYSE:B) was sold by MCCLELLAN HASSELL H on Monday, May 23. Shares for $411,037 were sold by BENANAV GARY G on Friday, August 19. The insider STEPHENS CHRISTOPHER J sold $893,022.

More important recent Barnes Group Inc. (NYSE:B) news were published by: Businesswire.com which released: “Barnes Group Inc. Names Michael A. Beck Senior Vice President, Barnes Group …” on March 01, 2016, also Businesswire.com published article titled: “Barnes Group Inc. Reports Third Quarter 2016 Financial Results”, Businesswire.com published: “Barnes Group Inc. Elects Hans-Peter Männer to Board of Directors” on October 19, 2016. More interesting news about Barnes Group Inc. (NYSE:B) was released by: Businesswire.com and their article: “Barnes Group Inc. Reports First Quarter 2016 Financial Results” with publication date: April 25, 2016.

B Company Profile

Barnes Group Inc., incorporated on January 30, 1925, is an industrial and aerospace maker and service provider, serving a range of end-markets and customers. The Company’s engineered products, industrial technologies, and solutions are used in applications that provide transportation, manufacturing, healthcare products and technology to the world. The Company’s divisions include Industrial and Aerospace. The Industrial segment includes the Molding Solutions, Engineered Components and Nitrogen Gas Products business units. The Aerospace segment includes the original equipment maker (OEM) business and the aftermarket business, whichcomprises maintenance overhaul and repair (MRO) services, and the manufacture and delivery of aerospace aftermarket spare parts.

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