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

Investment analysts at StockNews.com began coverage on shares of Barnes Group (NYSE:B) in a research report issued on Wednesday. The firm set 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 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. The stock has a market capitalization of $2.42 billion, a PE ratio of -61.66 and a beta of 1.32. The firm has a 50 day moving average of $47.47 and a two-hundred day moving average of $45.97.

Hedge Funds Weigh In On Barnes Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. FIL Ltd lifted 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 worth $96,370,000 after purchasing an additional 1,556,619 shares during the last quarter. Nexpoint Asset Management L.P. purchased a new stake in Barnes Group during the 4th quarter worth about $54,368,000. Charles Schwab Investment Management Inc. boosted its position 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 in the last quarter. Woodline Partners LP increased its holdings in shares of Barnes Group by 245.6% in 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 last quarter. Finally, TIG Advisors LLC purchased a new position in shares of Barnes Group in the 4th quarter valued at about $30,806,000. 90.82% of the stock is owned by institutional investors and hedge funds.

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.