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

StockNews.com assumed coverage on shares of Barnes Group (NYSE:B) in a report issued on Monday morning. The firm issued a sell rating on the industrial products company’s stock.

Several other analysts also recently weighed in on the stock. DA Davidson reissued a “neutral” rating and issued a $47.50 price target (down from $52.00) on shares of Barnes Group in a research note on Monday, October 7th. Truist Financial increased their target price on Barnes Group from $38.00 to $47.50 and gave the company a “hold” rating in a report on Tuesday, October 8th.

Barnes Group Stock Performance

NYSE:B opened at $47.27 on Monday. Barnes Group has a 1-year low of $30.05 and a 1-year high of $47.40. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.28 and a quick ratio of 1.35. The business has a 50 day moving average of $46.99 and a 200 day moving average of $43.21. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of -61.39 and a beta of 1.32.

Hedge Funds Weigh In On Barnes Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Texas Permanent School Fund Corp raised its stake 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 valued at $1,847,000 after buying an additional 263 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in 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 worth $148,565,000 after purchasing an additional 60,152 shares in the last quarter. Renaissance Technologies LLC grew its position in Barnes Group by 158.2% during the 2nd quarter. Renaissance Technologies LLC now owns 50,600 shares of the industrial products company’s stock valued at $2,095,000 after purchasing an additional 31,000 shares during the last quarter. Moors & Cabot Inc. increased its stake in Barnes Group by 14.4% during the 2nd quarter. Moors & Cabot Inc. now owns 9,434 shares of the industrial products company’s stock valued at $391,000 after purchasing an additional 1,184 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in Barnes Group in the second quarter worth about $277,000. Institutional investors own 90.82% of the company’s stock.

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.