StockNews.com Initiates Coverage on Barnes Group (NYSE:B)

Equities research analysts at StockNews.com started coverage on shares of Barnes Group (NYSE:B) in a note issued to investors on Tuesday. The firm set a “sell” rating on the industrial products company’s stock.

B has been the subject of a number of other reports. DA Davidson reaffirmed a “neutral” rating and issued a $47.50 target price (down from $52.00) on shares of Barnes Group in a research report on Monday, October 7th. Truist Financial upped their target price on Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a research report on Tuesday, October 8th.

Barnes Group Stock Performance

NYSE B opened at $46.86 on Tuesday. Barnes Group has a 1 year low of $25.75 and a 1 year high of $47.40. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of -60.87, a P/E/G ratio of 3.37 and a beta of 1.35. 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 firm’s 50 day simple moving average is $44.93 and its 200 day simple moving average is $41.38.

Hedge Funds Weigh In On Barnes Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its stake in Barnes Group by 158.2% during the second quarter. Renaissance Technologies LLC now owns 50,600 shares of the industrial products company’s stock valued at $2,095,000 after buying an additional 31,000 shares during the period. Vanguard Group Inc. grew its holdings in shares of Barnes Group by 3.8% during the first quarter. Vanguard Group Inc. now owns 5,689,535 shares of the industrial products company’s stock worth $211,366,000 after purchasing an additional 206,351 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of Barnes Group by 9.6% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 548,088 shares of the industrial products company’s stock worth $22,148,000 after purchasing an additional 47,821 shares during the last quarter. William B. Walkup & Associates Inc. purchased a new stake in Barnes Group in the second quarter valued at approximately $714,000. Finally, Gabelli Funds LLC bought a new stake in Barnes Group during the second quarter valued at approximately $538,000. Institutional investors own 90.82% of the company’s 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.