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

StockNews.com initiated coverage on shares of Barnes Group (NYSE:B) in a research note published on Tuesday. The firm issued a sell rating on the industrial products company’s stock.

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

Barnes Group Price Performance

Barnes Group stock opened at $47.40 on Tuesday. The firm has a market capitalization of $2.41 billion, a P/E ratio of -61.55 and a beta of 1.32. Barnes Group has a one year low of $30.95 and a one year high of $47.45. 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 fifty day moving average price of $47.07 and a 200-day moving average price of $43.49.

Institutional Investors Weigh In On Barnes Group

Several hedge funds have recently bought and sold shares of B. Mason Capital Management LLC increased its position in shares of Barnes Group by 32.9% during the 2nd quarter. Mason Capital Management LLC now owns 1,050,079 shares of the industrial products company’s stock valued at $43,484,000 after purchasing an additional 259,957 shares during the last quarter. Simcoe Capital Management LLC bought a new position in Barnes Group during the third quarter valued at approximately $24,469,000. Patriot Financial Group Insurance Agency LLC grew its position in Barnes Group by 9.6% during the third 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 during the last quarter. Fisher Asset Management LLC raised its stake in shares of Barnes Group by 4.1% during the third quarter. Fisher Asset Management LLC now owns 448,991 shares of the industrial products company’s stock worth $18,144,000 after acquiring an additional 17,643 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Barnes Group by 3.0% in the 2nd quarter. Sei Investments Co. now owns 327,984 shares of the industrial products company’s stock valued at $13,582,000 after purchasing an additional 9,609 shares in the last quarter. 90.82% of the stock is currently owned by 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.