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

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

Barnes Group Price Performance

Shares of NYSE B opened at $47.48 on Tuesday. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of -61.66 and a beta of 1.32. The company’s 50-day simple moving average is $47.45 and its 200-day simple moving average is $45.64. The company has a quick ratio of 1.35, a current ratio of 2.28 and a debt-to-equity ratio of 0.87. Barnes Group has a 52-week low of $32.65 and a 52-week high of $47.50.

Institutional Investors Weigh In On Barnes Group

Several large investors have recently bought and sold shares of B. FIL Ltd grew its holdings in shares of Barnes Group by 322.6% during the fourth quarter. FIL Ltd now owns 2,039,135 shares of the industrial products company’s stock worth $96,370,000 after buying an additional 1,556,619 shares in the last quarter. Nexpoint Asset Management L.P. acquired a new position in Barnes Group during the fourth quarter worth about $54,368,000. TIG Advisors LLC purchased a new stake in Barnes Group during the 4th quarter valued at about $30,806,000. Simcoe Capital Management LLC purchased a new stake in Barnes Group during the 3rd quarter valued at about $24,469,000. Finally, Schonfeld Strategic Advisors LLC raised its holdings in Barnes Group by 7,205.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 533,665 shares of the industrial products company’s stock valued at $25,221,000 after acquiring an additional 526,360 shares during the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

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.