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

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

A number of other research firms also recently weighed in on B. 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 note on Monday, October 7th. Truist Financial upped their target price on 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 Price Performance

Shares of Barnes Group stock opened at $47.28 on Friday. 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 stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of -61.40 and a beta of 1.32. Barnes Group has a twelve month low of $29.69 and a twelve month high of $47.40. The company has a 50-day simple moving average of $46.95 and a two-hundred day simple moving average of $43.02.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in B. Bank of New York Mellon Corp lifted its holdings in shares of Barnes Group by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 391,181 shares of the industrial products company’s stock worth $16,199,000 after acquiring an additional 2,942 shares during the last quarter. Texas Permanent School Fund Corp lifted its stake in Barnes Group by 0.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 44,613 shares of the industrial products company’s stock valued at $1,847,000 after purchasing an additional 263 shares during the last quarter. Chesapeake Capital Corp IL acquired a new stake in Barnes Group in the second quarter valued at approximately $406,000. NINE MASTS CAPITAL Ltd bought a new stake in shares of Barnes Group during the second quarter worth $286,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Barnes Group by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,587,611 shares of the industrial products company’s stock worth $148,565,000 after buying an additional 60,152 shares in the last quarter. 90.82% of the stock is 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.