Barnes Group (NYSE:B) Now Covered by Analysts at StockNews.com

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

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

Barnes Group Stock Performance

Shares of NYSE B opened at $47.07 on Thursday. The stock’s fifty day simple moving average is $46.76 and its 200 day simple moving average is $41.94. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of -61.13 and a beta of 1.34. The company has a quick ratio of 1.35, a current ratio of 2.28 and a debt-to-equity ratio of 0.87. Barnes Group has a 52-week low of $29.60 and a 52-week high of $47.40.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in B. QRG Capital Management Inc. increased its holdings in Barnes Group by 4.1% in the second quarter. QRG Capital Management Inc. now owns 6,073 shares of the industrial products company’s stock worth $251,000 after buying an additional 240 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Barnes Group by 1.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 25,500 shares of the industrial products company’s stock valued at $1,056,000 after purchasing an additional 400 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Barnes Group by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 391,181 shares of the industrial products company’s stock valued at $16,199,000 after purchasing an additional 2,942 shares during the last quarter. Roubaix Capital LLC boosted its holdings in Barnes Group by 35.2% in the second quarter. Roubaix Capital LLC now owns 244,706 shares of the industrial products company’s stock worth $10,133,000 after purchasing an additional 63,755 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its position in Barnes Group by 0.6% during the second quarter. Texas Permanent School Fund Corp now owns 44,613 shares of the industrial products company’s stock worth $1,847,000 after buying an additional 263 shares during the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barnes Group Company 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.