Research analysts at StockNews.com started coverage on shares of Barnes Group (NYSE:B – Get Free Report) in a report issued on Sunday. The brokerage set a “sell” rating on the industrial products company’s stock.
Barnes Group Stock 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. Barnes Group has a 12-month low of $32.00 and a 12-month high of $47.50. The stock has a 50 day simple moving average of $47.39 and a 200-day simple moving average of $44.98. The company has a market cap of $2.42 billion, a PE ratio of -61.66 and a beta of 1.32.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC grew its holdings in Barnes Group by 117.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 621 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 336 shares during the period. CoreCap Advisors LLC bought a new position in shares of Barnes Group during the 4th quarter valued at about $50,000. Lazard Asset Management LLC acquired a new position in shares of Barnes Group in the 4th quarter worth approximately $55,000. Vestcor Inc bought a new stake in shares of Barnes Group in the 4th quarter worth approximately $56,000. Finally, Sterling Capital Management LLC lifted its stake in Barnes Group by 820.1% during the fourth quarter. Sterling Capital Management LLC now owns 1,463 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 1,304 shares during the last quarter. Institutional investors and hedge funds 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.
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