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

StockNews.com assumed coverage on shares of Barnes Group (NYSE:B) in a note issued to investors on Wednesday. The brokerage set a “sell” rating on the industrial products company’s stock.

Barnes Group Price Performance

B opened at $47.48 on Wednesday. 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 firm has a market cap of $2.42 billion, a price-to-earnings ratio of -61.66 and a beta of 1.32. The stock’s 50-day moving average price is $47.46 and its 200 day moving average price is $45.95. Barnes Group has a 12-month low of $32.65 and a 12-month high of $47.50.

Institutional Investors Weigh In On Barnes Group

Large investors have recently added to or reduced their stakes in the business. FIL Ltd grew its stake 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 worth $96,370,000 after purchasing an additional 1,556,619 shares in the last quarter. Nexpoint Asset Management L.P. acquired a new position in shares of Barnes Group during the fourth quarter worth about $54,368,000. Charles Schwab Investment Management Inc. increased its stake in shares of Barnes Group by 18.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 974,536 shares of the industrial products company’s stock worth $46,057,000 after buying an additional 153,612 shares during the period. Woodline Partners LP raised its holdings in Barnes Group by 245.6% in the fourth 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 in the last quarter. Finally, TIG Advisors LLC purchased a new position in Barnes Group in the fourth quarter worth approximately $30,806,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

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.