StockNews.com Initiates Coverage on Barnes Group (NYSE:B)

StockNews.com began coverage on shares of Barnes Group (NYSE:B) in a report issued on Wednesday morning. The brokerage issued a sell rating on the industrial products company’s stock.

A number of other research firms have also commented on B. Truist Financial increased their price target on Barnes Group from $38.00 to $47.50 and gave the company a “hold” rating in a research report on Tuesday, October 8th. DA Davidson reaffirmed a “neutral” rating and set a $47.50 price target (down previously from $52.00) on shares of Barnes Group in a research report on Monday, October 7th.

Barnes Group Stock Performance

NYSE:B opened at $47.48 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.28 and a quick ratio of 1.35. Barnes Group has a one year low of $32.00 and a one year high of $47.50. The company has a market cap of $2.42 billion, a PE ratio of -61.66 and a beta of 1.32. The firm has a 50-day moving average of $47.16 and a 200-day moving average of $43.75.

Institutional Trading of Barnes Group

Several institutional investors and hedge funds have recently modified their holdings of B. Renaissance Technologies LLC grew its holdings in shares of Barnes Group by 158.2% during the 2nd quarter. Renaissance Technologies LLC now owns 50,600 shares of the industrial products company’s stock valued at $2,095,000 after purchasing an additional 31,000 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Barnes Group by 22.9% in the 3rd quarter. Jane Street Group LLC now owns 153,917 shares of the industrial products company’s stock valued at $6,220,000 after acquiring an additional 28,649 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Barnes Group by 15.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 92,185 shares of the industrial products company’s stock valued at $3,725,000 after acquiring an additional 12,156 shares during the period. Patriot Financial Group Insurance Agency LLC increased its stake in Barnes Group by 2.1% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 559,772 shares of the industrial products company’s stock worth $26,455,000 after purchasing an additional 11,684 shares during the period. Finally, Barclays PLC lifted its position 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 purchasing an additional 11,279 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

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.