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

StockNews.com started coverage on shares of Barnes Group (NYSE:B) in a research report sent to investors on Wednesday morning. The brokerage issued a sell rating on the industrial products company’s stock.

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

Barnes Group Stock Performance

Shares of B stock opened at $47.48 on Wednesday. The stock has a market capitalization of $2.42 billion, a P/E ratio of -61.66 and a beta of 1.32. The company has a 50 day moving average price of $47.16 and a 200 day moving average price of $43.75. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.28. Barnes Group has a fifty-two week low of $32.00 and a fifty-two week high of $47.50.

Institutional Trading of Barnes Group

A number of institutional investors and hedge funds have recently made changes to their positions in B. Renaissance Technologies LLC lifted its position in shares of Barnes Group by 158.2% in the 2nd quarter. Renaissance Technologies LLC now owns 50,600 shares of the industrial products company’s stock worth $2,095,000 after acquiring an additional 31,000 shares during the period. Marshall Wace LLP acquired a new stake in shares of Barnes Group in the 2nd quarter valued at $1,876,000. Creative Planning increased its position in shares of Barnes Group by 13.8% during the 2nd quarter. Creative Planning now owns 25,423 shares of the industrial products company’s stock worth $1,053,000 after purchasing an additional 3,089 shares in the last quarter. SG Americas Securities LLC bought a new position in Barnes Group during the 3rd quarter valued at about $178,000. Finally, Handelsbanken Fonder AB boosted its position in Barnes Group by 5.1% in the third quarter. Handelsbanken Fonder AB now owns 10,355 shares of the industrial products company’s stock valued at $418,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds 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.