Investment analysts at StockNews.com began coverage on shares of Barnes Group (NYSE:B – Get Free Report) in a research note issued to investors on Sunday. The firm set a “sell” rating on the industrial products company’s stock.
Barnes Group Price Performance
B opened at $47.48 on Friday. The company 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 of $47.39 and a 200-day moving average of $44.98. 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 1-year low of $32.00 and a 1-year high of $47.50.
Hedge Funds Weigh In On Barnes Group
Several large investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its stake in Barnes Group by 117.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 621 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 336 shares during the period. CoreCap Advisors LLC bought a new stake in shares of Barnes Group in the 4th quarter worth approximately $50,000. Lazard Asset Management LLC acquired a new position in Barnes Group during the 4th quarter valued at approximately $55,000. Vestcor Inc bought a new position in Barnes Group during the 4th quarter worth $56,000. Finally, Sterling Capital Management LLC increased its position in Barnes Group by 820.1% in the fourth quarter. Sterling Capital Management LLC now owns 1,463 shares of the industrial products company’s stock worth $69,000 after buying an additional 1,304 shares during the period. 90.82% of the stock is currently owned by 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.
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