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

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

Other analysts have also recently issued research reports about the company. DA Davidson reaffirmed a “neutral” rating and set a $47.50 target price (down previously from $52.00) on shares of Barnes Group in a research report 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 research report on Tuesday, October 8th.

Barnes Group Stock Down 0.1 %

Shares of NYSE:B opened at $47.01 on Wednesday. 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 stock has a market cap of $2.39 billion, a P/E ratio of -61.12 and a beta of 1.34. The business’s 50 day moving average is $45.68 and its 200 day moving average is $41.61. Barnes Group has a 52-week low of $27.21 and a 52-week high of $47.40.

Institutional Trading of Barnes Group

A number of institutional investors have recently made changes to their positions in the business. Barclays PLC boosted its position in shares of Barnes Group by 9.3% in the 3rd quarter. Barclays PLC now owns 132,462 shares of the industrial products company’s stock worth $5,353,000 after purchasing an additional 11,279 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Barnes Group in the 3rd quarter worth $676,000. XTX Topco Ltd purchased a new position in Barnes Group in the 3rd quarter worth $492,000. Jane Street Group LLC raised its stake in Barnes Group by 22.9% in the 3rd quarter. Jane Street Group LLC now owns 153,917 shares of the industrial products company’s stock worth $6,220,000 after acquiring an additional 28,649 shares during the last quarter. Finally, Systematic Financial Management LP purchased a new position in Barnes Group in the 3rd quarter worth $1,021,000. Institutional investors and hedge funds 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.