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

StockNews.com started coverage on shares of Barnes Group (NYSE:B) in a research report released on Saturday. The firm issued a sell rating on the industrial products company’s stock.

B has been the subject of several other research reports. 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 report on Tuesday, October 8th. DA Davidson reaffirmed a “neutral” rating and issued a $47.50 price target (down previously from $52.00) on shares of Barnes Group in a research report on Monday, October 7th.

Barnes Group Stock Performance

NYSE:B opened at $46.70 on Friday. 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 52-week low of $22.13 and a 52-week high of $47.12. The firm has a market capitalization of $2.38 billion, a PE ratio of -60.65, a P/E/G ratio of 3.21 and a beta of 1.35. The stock has a 50-day simple moving average of $42.14 and a two-hundred day simple moving average of $40.21.

Institutional Trading of Barnes Group

Institutional investors have recently made changes to their positions in the company. UniSuper Management Pty Ltd acquired a new stake in shares of Barnes Group in the first quarter valued at approximately $497,000. Renaissance Technologies LLC increased its stake 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 last quarter. Vanguard Group Inc. raised its holdings in shares of Barnes Group by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 5,689,535 shares of the industrial products company’s stock worth $211,366,000 after acquiring an additional 206,351 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its position in shares of 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 valued at $22,148,000 after acquiring an additional 47,821 shares during the last quarter. Finally, William B. Walkup & Associates Inc. purchased a new stake in shares of Barnes Group in the second quarter valued at about $714,000. 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.