Price Action to Note: Barnes Group Inc. Surges to 52-Week High, Is Now Top Performer

Price Action to Note: Barnes Group Inc. Surges to 52 Week High, Is Now Top Performer

The stock of Barnes Group Inc. (NYSE:B) hit a new 52-week high and has $63.02 target or 43.00% above today’s $44.07 share price. The 9 months bullish chart indicates low risk for the $2.37 billion company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $63.02 price target is reached, the company will be worth $1.02B 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 34,487 shares traded hands. Barnes Group Inc. (NYSE:B) has risen 18.85% since April 15, 2016 and is uptrending. It has outperformed by 14.22% 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. Sidoti upgraded Barnes Group Inc. (NYSE:B) on Tuesday, January 12 to “Buy” rating. The stock of Barnes Group Inc. (NYSE:B) earned “Outperform” rating by Oppenheimer on Monday, October 26. The firm has “Outperform” rating given on Friday, August 7 by Oppenheimer. The rating was initiated by Buckingham Research with “Neutral” on Monday, October 19. Oppenheimer maintained the stock with “Outperform” rating in Friday, February 12 report. The stock of Barnes Group Inc. (NYSE:B) has “Neutral” rating given on Friday, December 11 by DA Davidson. The stock of Barnes Group Inc. (NYSE:B) earned “Buy” rating by Deutsche Bank on Thursday, April 7.

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 Q2 2016. Its down 0.78, from 1.7 in 2016Q1. The ratio turned negative, 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.
Wooster Corthell Wealth Mgmt holds 96,891 shares or 2.25% of its portfolio. Bessemer Grp has 0% invested in the company for 131 shares. Rhumbline Advisers has 0.01% invested in the company for 86,375 shares. Kcg Holdings accumulated 0% or 6,284 shares. Blackrock Fund Advsr holds 0.02% of its portfolio in Barnes Group Inc. (NYSE:B) for 3.23M shares. Victory owns 1.49M shares or 0.2% of their US portfolio. Legal General Grp Public Ltd has 11,061 shares for 0% of their US portfolio. Highbridge Limited Liability Corporation last reported 90,322 shares in the company. Pettyjohn Wood White, a Virginia-based fund reported 33,085 shares. Ftb Advsrs accumulated 0% or 922 shares. Strs Ohio, a Ohio-based fund reported 119,300 shares. Springbok Cap Mngmt Llc reported 505 shares or 0% of all its holdings. Ironwood Mngmt Limited, a Massachusetts-based fund reported 35,105 shares. Teachers Advsrs Incorporated has 0.03% invested in the company for 446,871 shares. Glenmede Trust Na holds 240 shares or 0% of its portfolio.

Insider Transactions: Since May 20, 2016, the stock had 0 insider purchases, and 8 insider sales for $2.03 million net activity. EDWARDS DAWN N also sold $189,131 worth of Barnes Group Inc. (NYSE:B) on Wednesday, August 10. 3,000 Barnes Group Inc. (NYSE:B) shares with value of $99,000 were sold by BARNES THOMAS O. STEPHENS CHRISTOPHER J had sold 23,039 shares worth $893,022. 4,400 Barnes Group Inc. (NYSE:B) shares with value of $145,101 were sold by MCCLELLAN HASSELL H. BENANAV GARY G had sold 9,901 shares worth $411,037.

More important recent Barnes Group Inc. (NYSE:B) news were published by: Forbes.com which released: “Ex-Dividend Reminder: Forward Air, Equifax and Barnes Group” on November 17, 2016, also Businesswire.com published article titled: “Barnes Group Inc. Names Michael A. Beck Senior Vice President, Barnes Group …”, Forbes.com published: “Reminder – Barnes Group (B) Goes Ex-Dividend Soon” on August 19, 2016. More interesting news about Barnes Group Inc. (NYSE:B) was released by: Businesswire.com and their article: “Barnes Group Inc. Reports Third Quarter 2016 Financial Results” with publication date: October 28, 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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