K2 Principal Fund L.P. Invests $2.52 Million in Barnes Group Inc. (NYSE:B)

K2 Principal Fund L.P. acquired a new stake in Barnes Group Inc. (NYSE:B) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 53,330 shares of the industrial products company’s stock, valued at approximately $2,520,000. K2 Principal Fund L.P. owned about 0.10% of Barnes Group at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in B. FIL Ltd lifted its stake in shares of Barnes Group by 322.6% in the fourth quarter. FIL Ltd now owns 2,039,135 shares of the industrial products company’s stock worth $96,370,000 after acquiring an additional 1,556,619 shares during the period. Nexpoint Asset Management L.P. acquired a new position in shares of Barnes Group in the 4th quarter worth approximately $54,368,000. TIG Advisors LLC bought a new stake in shares of Barnes Group in the 4th quarter valued at $30,806,000. Schonfeld Strategic Advisors LLC increased its position in shares of Barnes Group by 7,205.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 533,665 shares of the industrial products company’s stock worth $25,221,000 after buying an additional 526,360 shares during the period. Finally, Alpine Associates Management Inc. bought a new position in Barnes Group during the fourth quarter worth $19,491,000. Institutional investors own 90.82% of the company’s stock.

Barnes Group Trading Down 59.0 %

NYSE:B opened at $19.46 on Friday. Barnes Group Inc. has a 12 month low of $18.88 and a 12 month high of $47.50. 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 $991.29 million, a price-to-earnings ratio of -25.27 and a beta of 1.32. The firm has a fifty day simple moving average of $46.92 and a two-hundred day simple moving average of $47.07.

Barnes Group (NYSE:B) last issued its earnings results on Friday, May 9th. The industrial products company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.03). Barnes Group had a negative net margin of 2.46% and a positive return on equity of 4.84%. During the same period last year, the company earned $0.19 earnings per share. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. Analysts expect that Barnes Group Inc. will post 1.39 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Barnes Group in a report on Monday, May 5th. They set a “sell” rating for the company.

Barnes Group 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.