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

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

Other research analysts have also recently issued research reports about the company. DA Davidson reaffirmed a “neutral” rating and set a $47.50 target price (down previously from $52.00) on shares of Barnes Group in a research report on Monday, October 7th. Truist Financial lifted their price objective on shares of Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a report on Tuesday, October 8th.

Barnes Group Trading Up 0.1 %

NYSE B opened at $47.24 on Friday. 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 $29.69 and a 52 week high of $47.40. The business has a 50 day moving average price of $46.94 and a 200-day moving average price of $42.96. The company has a market cap of $2.41 billion, a price-to-earnings ratio of -61.35 and a beta of 1.32.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its stake in Barnes Group by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 391,181 shares of the industrial products company’s stock worth $16,199,000 after purchasing an additional 2,942 shares in the last quarter. Texas Permanent School Fund Corp increased its holdings in shares of Barnes Group by 0.6% in the second quarter. Texas Permanent School Fund Corp now owns 44,613 shares of the industrial products company’s stock worth $1,847,000 after purchasing an additional 263 shares during the period. Chesapeake Capital Corp IL purchased a new stake in shares of Barnes Group in the second quarter worth $406,000. NINE MASTS CAPITAL Ltd bought a new stake in Barnes Group during the second quarter valued at $286,000. Finally, Dimensional Fund Advisors LP grew its position in Barnes Group by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,587,611 shares of the industrial products company’s stock worth $148,565,000 after buying an additional 60,152 shares in the last quarter. Institutional investors own 90.82% of the company’s stock.

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.