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

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

A number of other research analysts also recently weighed in on B. Truist Financial lifted their price target on 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 price target (down previously from $52.00) on shares of Barnes Group in a research note on Monday, October 7th.

Barnes Group Stock Down 0.1 %

Shares of B stock opened at $46.61 on Friday. Barnes Group has a 1 year low of $24.55 and a 1 year high of $47.40. The stock has a market cap of $2.37 billion, a PE ratio of -60.53, a price-to-earnings-growth ratio of 3.21 and a beta of 1.35. The business’s fifty day moving average is $43.12 and its 200-day moving average is $40.71. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.28.

Institutional Investors Weigh In On Barnes Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its position in Barnes Group by 17.1% during the third quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 238 shares in the last quarter. QRG Capital Management Inc. grew its stake in shares of Barnes Group by 4.1% during the second quarter. QRG Capital Management Inc. now owns 6,073 shares of the industrial products company’s stock worth $251,000 after buying an additional 240 shares during the last quarter. Texas Permanent School Fund Corp grew its stake in shares of Barnes Group by 0.6% during the second quarter. Texas Permanent School Fund Corp now owns 44,613 shares of the industrial products company’s stock worth $1,847,000 after buying an additional 263 shares during the last quarter. Natixis Advisors LLC grew its stake in shares of Barnes Group by 2.8% during the third 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 last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Barnes Group by 3.1% during the third quarter. BNP Paribas Financial Markets now owns 11,608 shares of the industrial products company’s stock worth $469,000 after buying an additional 348 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

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.