Barnes Group (NYSE:B) Earns Sell Rating from Analysts at StockNews.com

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

Barnes Group Stock Performance

NYSE:B opened at $47.48 on Friday. The company’s 50 day moving average price is $47.48 and its 200-day moving average price is $47.06. The company has a quick ratio of 1.35, a current ratio of 2.28 and a debt-to-equity ratio of 0.87. Barnes Group has a 52 week low of $32.65 and a 52 week high of $47.50. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of -61.66 and a beta of 1.32.

Institutional Investors Weigh In On Barnes Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FIL Ltd lifted its stake in shares of Barnes Group by 322.6% in the 4th quarter. FIL Ltd now owns 2,039,135 shares of the industrial products company’s stock worth $96,370,000 after purchasing an additional 1,556,619 shares during the period. Nexpoint Asset Management L.P. bought a new position in Barnes Group in the fourth quarter worth approximately $54,368,000. Charles Schwab Investment Management Inc. boosted its stake 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 worth $46,057,000 after acquiring an additional 153,612 shares during the last quarter. Woodline Partners LP grew its position in shares of Barnes Group by 245.6% during the 4th quarter. Woodline Partners LP now owns 729,097 shares of the industrial products company’s stock valued at $34,457,000 after acquiring an additional 518,146 shares during the period. Finally, TIG Advisors LLC purchased a new stake in shares of Barnes Group in the 4th quarter worth $30,806,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

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.