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

Stock analysts at StockNews.com initiated coverage on shares of Barnes Group (NYSE:B) in a note issued to investors on Friday. The brokerage set a “sell” rating on the industrial products company’s stock.

Barnes Group Price Performance

Shares of B opened at $47.48 on Friday. The firm has a market cap of $2.42 billion, a PE ratio of -61.66 and a beta of 1.32. The firm’s 50 day moving average price is $47.30 and its 200 day moving average price is $44.19. 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 twelve month low of $32.00 and a twelve month high of $47.50.

Hedge Funds Weigh In On Barnes Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Arbitrage LLC acquired a new position in Barnes Group during the fourth quarter valued at approximately $17,541,000. Nexpoint Asset Management L.P. acquired a new position in Barnes Group during the fourth quarter valued at approximately $54,368,000. One68 Global Capital LLC acquired a new position in Barnes Group during the fourth quarter valued at approximately $841,000. Parvin Asset Management LLC acquired a new position in Barnes Group during the fourth quarter valued at approximately $95,000. Finally, Schonfeld Strategic Advisors LLC grew its holdings in Barnes Group by 7,205.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 533,665 shares of the industrial products company’s stock valued at $25,221,000 after purchasing an additional 526,360 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.