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

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

Barnes Group Price Performance

Shares of NYSE:B opened at $47.48 on Thursday. Barnes Group has a 12 month low of $32.00 and a 12 month high of $47.50. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -61.66 and a beta of 1.32. The business’s 50 day simple moving average is $47.25 and its 200-day simple moving average is $43.96. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.28 and a quick ratio of 1.35.

Hedge Funds Weigh In On Barnes Group

Several hedge funds have recently added to or reduced their stakes in the business. Creative Planning grew its holdings in Barnes Group by 13.8% during the 2nd quarter. Creative Planning now owns 25,423 shares of the industrial products company’s stock valued at $1,053,000 after buying an additional 3,089 shares during the last quarter. SG Americas Securities LLC acquired a new position in Barnes Group in the 3rd quarter valued at about $178,000. Handelsbanken Fonder AB lifted its holdings in Barnes Group by 5.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 10,355 shares of the industrial products company’s stock valued at $418,000 after purchasing an additional 500 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Barnes Group by 17.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 238 shares during the last quarter. Finally, Jade Capital Advisors LLC purchased a new stake in shares of Barnes Group during the third quarter worth about $606,000. 90.82% of the stock is currently 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.