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

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

B has been the subject of a number of other reports. DA Davidson reaffirmed a “neutral” rating and set a $47.50 price objective (down from $52.00) on shares of Barnes Group in a research note on Monday, October 7th. Truist Financial lifted their price objective on shares of Barnes Group from $38.00 to $47.50 and gave the company a “hold” rating in a research report on Tuesday, October 8th.

Barnes Group Stock Performance

Shares of NYSE:B opened at $47.16 on Friday. The business has a fifty day moving average of $46.81 and a 200-day moving average of $42.18. The firm has a market cap of $2.40 billion, a PE ratio of -61.25 and a beta of 1.34. 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 $29.67 and a twelve month high of $47.40.

Institutional Trading of Barnes Group

Several institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in Barnes Group by 17.1% in the 3rd 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 in the last quarter. SG Americas Securities LLC bought a new position in shares of Barnes Group during the third quarter worth about $178,000. Centiva Capital LP bought a new position in Barnes Group during the 3rd quarter worth approximately $212,000. Captrust Financial Advisors acquired a new stake in shares of Barnes Group during the third quarter worth $224,000. Finally, Needham Investment Management LLC acquired a new position in Barnes Group in the third quarter valued at $242,000. 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.