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

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

Several other research firms have also recently weighed in on B. Truist Financial increased their price target on shares of Barnes Group from $38.00 to $47.50 and gave the company a “hold” rating in a report on Tuesday, October 8th. DA Davidson reiterated a “neutral” rating and set a $47.50 target price (down previously from $52.00) on shares of Barnes Group in a research note on Monday, October 7th.

Barnes Group Stock Performance

NYSE B opened at $47.47 on Tuesday. The firm’s fifty day moving average price is $47.09 and its two-hundred day moving average price is $43.52. Barnes Group has a 1 year low of $31.63 and a 1 year high of $47.48. The firm has a market capitalization of $2.42 billion, a P/E ratio of -61.64 and a beta of 1.32. The company has a current ratio of 2.28, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87.

Hedge Funds Weigh In On Barnes Group

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of Barnes Group by 17.1% in the third quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 238 shares during the last quarter. Natixis Advisors LLC lifted its holdings in Barnes Group by 2.8% during the 3rd quarter. Natixis Advisors LLC now owns 11,733 shares of the industrial products company’s stock worth $474,000 after buying an additional 323 shares during the period. BNP Paribas Financial Markets grew its position in shares of Barnes Group by 3.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,608 shares of the industrial products company’s stock valued at $469,000 after buying an additional 348 shares during the last quarter. Handelsbanken Fonder AB increased its stake in shares of 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 during the period. Finally, KBC Group NV raised its position in shares of Barnes Group by 52.4% during the fourth quarter. KBC Group NV now owns 2,186 shares of the industrial products company’s stock worth $103,000 after acquiring an additional 752 shares during the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

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.