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

StockNews.com assumed coverage on shares of Barnes Group (NYSE:B) in a research report sent to investors on Thursday morning. The firm issued a sell rating on the industrial products company’s stock.

Several other research analysts have also commented on B. Truist Financial increased their price target on shares of Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a research note on Tuesday, October 8th. DA Davidson reiterated a “neutral” rating and issued a $47.50 price target (down from $52.00) on shares of Barnes Group in a research report on Monday, October 7th.

Barnes Group Stock Performance

B stock opened at $47.07 on Thursday. The company has a market capitalization of $2.40 billion, a P/E ratio of -61.13 and a beta of 1.34. The company has a quick ratio of 1.35, a current ratio of 2.28 and a debt-to-equity ratio of 0.87. The company has a 50-day simple moving average of $46.76 and a 200 day simple moving average of $41.96. Barnes Group has a fifty-two week low of $29.60 and a fifty-two week high of $47.40.

Institutional Investors Weigh In On Barnes Group

Several institutional investors have recently added to or reduced their stakes in B. Barclays PLC increased its stake in Barnes Group by 9.3% in the third quarter. Barclays PLC now owns 132,462 shares of the industrial products company’s stock valued at $5,353,000 after acquiring an additional 11,279 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Barnes Group during the 3rd quarter worth approximately $676,000. XTX Topco Ltd purchased a new position in Barnes Group during the 3rd quarter valued at about $492,000. Jane Street Group LLC boosted its holdings in Barnes Group by 22.9% in the third quarter. Jane Street Group LLC now owns 153,917 shares of the industrial products company’s stock worth $6,220,000 after acquiring an additional 28,649 shares in the last quarter. Finally, Systematic Financial Management LP purchased a new stake in Barnes Group during the 3rd quarter valued at about $1,021,000. 90.82% of the stock is owned by hedge funds and other 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.