Barnes Group (NYSE:B) Now Covered by StockNews.com

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

Barnes Group Price Performance

Shares of NYSE:B opened at $47.48 on Friday. The company has a current ratio of 2.28, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The stock’s fifty day simple moving average is $47.35 and its two-hundred day simple moving average is $44.56. Barnes Group has a 1-year low of $32.00 and a 1-year high of $47.50. The stock has a market cap of $2.42 billion, a PE ratio of -61.66 and a beta of 1.32.

Institutional Investors Weigh In On Barnes Group

A number of hedge funds have recently made changes to their positions in the business. FIL Ltd raised its stake in shares of Barnes Group by 322.6% during 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. purchased a new stake in Barnes Group in the 4th quarter worth about $54,368,000. Charles Schwab Investment Management Inc. increased its holdings in Barnes Group by 18.7% in 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 increased its holdings in Barnes Group by 245.6% in the 4th quarter. Woodline Partners LP now owns 729,097 shares of the industrial products company’s stock worth $34,457,000 after acquiring an additional 518,146 shares during the last quarter. Finally, TIG Advisors LLC purchased a new stake in Barnes Group in the 4th quarter worth about $30,806,000. 90.82% of the stock is currently owned by institutional investors.

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.