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

StockNews.com assumed coverage on shares of Barnes Group (NYSE:B) in a research report sent to investors on Saturday. The brokerage issued a sell rating on the industrial products company’s stock.

Barnes Group Stock Performance

NYSE B opened at $47.48 on Friday. Barnes Group has a 1-year low of $32.00 and a 1-year high of $47.50. The company has a current ratio of 2.28, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The stock has a 50-day moving average of $47.35 and a 200-day moving average of $44.63. The firm 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 bought and sold shares of the business. FIL Ltd increased its holdings in 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 during the period. Nexpoint Asset Management L.P. purchased a new position in shares of Barnes Group during the 4th quarter worth approximately $54,368,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Barnes Group by 18.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 974,536 shares of the industrial products company’s stock worth $46,057,000 after acquiring an additional 153,612 shares during the period. Woodline Partners LP grew its holdings 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 worth $34,457,000 after acquiring an additional 518,146 shares during the period. Finally, TIG Advisors LLC purchased a new position in shares of Barnes Group during the 4th quarter worth approximately $30,806,000. Hedge funds and other 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.