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

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

Barnes Group Stock Performance

Shares of B stock opened at $47.48 on Wednesday. The stock’s 50-day moving average price is $47.47 and its 200 day moving average price is $46.05. 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 $2.42 billion, a PE ratio of -61.66 and a beta of 1.32. Barnes Group has a 52-week low of $32.65 and a 52-week high of $47.50.

Hedge Funds Weigh In On Barnes Group

A number of large investors have recently modified their holdings of the business. FIL Ltd increased its holdings in shares of Barnes Group by 322.6% in 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 position in Barnes Group in the fourth quarter valued at about $54,368,000. Charles Schwab Investment Management Inc. increased its holdings in Barnes Group by 18.7% in 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 position in shares of Barnes Group by 245.6% during the 4th quarter. Woodline Partners LP now owns 729,097 shares of the industrial products company’s stock valued at $34,457,000 after acquiring an additional 518,146 shares during the period. Finally, TIG Advisors LLC purchased a new stake in shares of Barnes Group during the 4th quarter worth approximately $30,806,000. 90.82% of the stock is 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.