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

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

Barnes Group Stock Performance

B opened at $47.48 on Monday. The stock’s 50 day simple moving average is $47.48 and its 200 day simple moving average is $47.24. The stock has a market cap of $2.42 billion, a P/E ratio of -61.66 and a beta of 1.32. Barnes Group has a 1-year low of $33.76 and a 1-year high of $47.50. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.28 and a quick ratio of 1.35.

Hedge Funds Weigh In On Barnes Group

Hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC lifted its holdings in shares of Barnes Group by 117.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 621 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 336 shares during the period. CoreCap Advisors LLC purchased a new stake in shares of Barnes Group during the 4th quarter worth about $50,000. Lazard Asset Management LLC acquired a new stake in Barnes Group during the 4th quarter worth approximately $55,000. Vestcor Inc purchased a new position in Barnes Group in the fourth quarter valued at approximately $56,000. Finally, Sterling Capital Management LLC lifted its position in Barnes Group by 820.1% during the fourth quarter. Sterling Capital Management LLC now owns 1,463 shares of the industrial products company’s stock valued at $69,000 after buying an additional 1,304 shares in the last quarter. Hedge funds and other 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.