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

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

Barnes Group Stock Performance

NYSE:B opened at $47.48 on Tuesday. The company has a current ratio of 2.28, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The firm has a fifty day simple moving average of $47.45 and a 200-day simple moving average of $45.64. Barnes Group has a 12 month low of $32.65 and a 12 month high of $47.50. The company has a market capitalization of $2.42 billion, a P/E ratio of -61.66 and a beta of 1.32.

Institutional Trading of Barnes Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FIL Ltd increased its holdings in Barnes Group by 322.6% in the fourth quarter. FIL Ltd now owns 2,039,135 shares of the industrial products company’s stock valued at $96,370,000 after buying an additional 1,556,619 shares in the last quarter. Nexpoint Asset Management L.P. acquired a new stake in shares of Barnes Group during the 4th quarter valued at about $54,368,000. Charles Schwab Investment Management Inc. grew its position in shares of Barnes Group by 18.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 974,536 shares of the industrial products company’s stock valued at $46,057,000 after acquiring an additional 153,612 shares during the period. Woodline Partners LP increased its stake in shares of Barnes Group by 245.6% in the 4th quarter. Woodline Partners LP now owns 729,097 shares of the industrial products company’s stock valued at $34,457,000 after purchasing an additional 518,146 shares in the last quarter. Finally, TIG Advisors LLC acquired a new position in Barnes Group in the 4th quarter worth about $30,806,000. 90.82% of the stock is owned by institutional investors and hedge funds.

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.