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

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

Barnes Group Stock Performance

B stock opened at $47.48 on Friday. The company has a market capitalization of $2.42 billion, a P/E ratio of -61.66 and a beta of 1.32. The company has a 50-day simple moving average of $47.48 and a 200 day simple moving average of $47.21. Barnes Group has a fifty-two week low of $33.76 and a fifty-two week high of $47.50. The company has a quick ratio of 1.35, a current ratio of 2.28 and a debt-to-equity ratio of 0.87.

Hedge Funds Weigh In On Barnes Group

Several large investors have recently made changes to their positions in the business. FIL Ltd boosted its position in shares of Barnes Group by 322.6% during the 4th quarter. FIL Ltd now owns 2,039,135 shares of the industrial products company’s stock valued at $96,370,000 after purchasing an additional 1,556,619 shares in the last quarter. Nexpoint Asset Management L.P. purchased a new stake in Barnes Group during the fourth quarter valued at about $54,368,000. Charles Schwab Investment Management Inc. lifted its stake in Barnes Group by 18.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 974,536 shares of the industrial products company’s stock valued at $46,057,000 after buying an additional 153,612 shares in the last quarter. Woodline Partners LP lifted its stake in Barnes Group by 245.6% during the fourth quarter. Woodline Partners LP now owns 729,097 shares of the industrial products company’s stock valued at $34,457,000 after buying an additional 518,146 shares in the last quarter. Finally, TIG Advisors LLC purchased a new stake in Barnes Group during the fourth quarter valued at about $30,806,000. Institutional investors own 90.82% of the company’s stock.

Barnes Group Company Profile

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.