Barnes Group (NYSE:B) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com began coverage on shares of Barnes Group (NYSE:B) in a research report issued to clients and investors on Sunday. The brokerage set a “sell” rating on the industrial products company’s stock.

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

Barnes Group Price Performance

NYSE:B opened at $47.18 on Friday. The stock has a market cap of $2.40 billion, a PE ratio of -61.27 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. The business’s 50-day simple moving average is $46.93 and its two-hundred day simple moving average is $42.88. Barnes Group has a 52 week low of $29.67 and a 52 week high of $47.40.

Institutional Investors Weigh In On Barnes Group

Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of Barnes Group by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,587,611 shares of the industrial products company’s stock valued at $148,565,000 after purchasing an additional 60,152 shares in the last quarter. Mason Capital Management LLC increased its holdings in Barnes Group by 32.9% during the second quarter. Mason Capital Management LLC now owns 1,050,079 shares of the industrial products company’s stock valued at $43,484,000 after buying an additional 259,957 shares during the period. Westwood Holdings Group Inc. bought a new position in Barnes Group in the second quarter worth approximately $32,576,000. Simcoe Capital Management LLC purchased a new stake in Barnes Group during the third quarter worth $24,469,000. Finally, Patriot Financial Group Insurance Agency LLC boosted its position in Barnes Group by 9.6% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 548,088 shares of the industrial products company’s stock valued at $22,148,000 after acquiring an additional 47,821 shares in the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

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.