Barnes Group (NYSE:B) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Barnes Group (NYSE:B) in a report released on Sunday. The brokerage set a “sell” rating on the industrial products company’s stock.

Several other analysts have also commented on the company. DA Davidson reiterated a “neutral” rating and set a $47.50 price objective (down previously from $52.00) on shares of Barnes Group in a report on Monday, October 7th. Truist Financial raised their price target 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 Trading Down 0.2 %

NYSE:B opened at $47.18 on Friday. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of -61.27 and a beta of 1.34. Barnes Group has a 52 week low of $29.67 and a 52 week high of $47.40. 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 firm has a 50 day moving average of $46.93 and a 200 day moving average of $42.88.

Hedge Funds Weigh In On Barnes Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in Barnes Group by 1.7% during 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 during the last quarter. Mason Capital Management LLC lifted its holdings in shares of 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 worth $43,484,000 after purchasing an additional 259,957 shares during the period. Westwood Holdings Group Inc. purchased a new stake in Barnes Group in the second quarter valued at approximately $32,576,000. Simcoe Capital Management LLC purchased a new position in Barnes Group during the 3rd quarter worth approximately $24,469,000. Finally, Patriot Financial Group Insurance Agency LLC raised 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 worth $22,148,000 after buying an additional 47,821 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

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.