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

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

Several other equities research analysts have also issued reports on the company. Truist Financial lifted their price target 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 restated a “neutral” rating and issued a $47.50 target price (down previously from $52.00) on shares of Barnes Group in a research report on Monday, October 7th.

Barnes Group Stock Performance

Barnes Group stock opened at $47.24 on Friday. Barnes Group has a fifty-two week low of $29.69 and a fifty-two week high of $47.40. The firm’s fifty day moving average price is $46.94 and its 200-day moving average price is $42.96. The stock has a market cap of $2.41 billion, a P/E ratio of -61.35 and a beta of 1.32. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.28.

Institutional Investors Weigh In On Barnes Group

Several institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its holdings 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 buying an additional 31,000 shares during the last quarter. Jane Street Group LLC increased its position in shares of Barnes Group by 22.9% in the third quarter. Jane Street Group LLC now owns 153,917 shares of the industrial products company’s stock valued at $6,220,000 after acquiring an additional 28,649 shares during the period. Patriot Financial Group Insurance Agency LLC raised its stake in shares of 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. William B. Walkup & Associates Inc. purchased a new stake in shares of Barnes Group during the second quarter worth about $714,000. Finally, Barclays PLC grew its stake in shares of Barnes Group by 9.3% in the third 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 during the last quarter. 90.82% of the stock is currently owned by hedge funds and other 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.