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

StockNews.com initiated coverage on shares of Barnes Group (NYSE:B) in a report released on Wednesday morning. The firm issued a sell rating on the industrial products company’s stock.

Barnes Group Price Performance

Shares of NYSE B opened at $47.48 on Wednesday. The firm’s 50-day moving average is $47.47 and its two-hundred day moving average is $46.05. The company has a market capitalization of $2.42 billion, a PE ratio of -61.66 and a beta of 1.32. Barnes Group has a 12-month low of $32.65 and a 12-month 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.

Institutional Investors Weigh In On Barnes Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC grew its position in shares of Barnes Group by 2.1% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 559,772 shares of the industrial products company’s stock valued at $26,455,000 after purchasing an additional 11,684 shares during the period. Jane Street Group LLC boosted its stake in Barnes Group by 22.9% in the 3rd quarter. Jane Street Group LLC now owns 153,917 shares of the industrial products company’s stock worth $6,220,000 after buying an additional 28,649 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Barnes Group by 15.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 92,185 shares of the industrial products company’s stock valued at $3,725,000 after buying an additional 12,156 shares during the period. Barclays PLC increased its stake in shares of Barnes Group by 9.3% during the 3rd quarter. Barclays PLC now owns 132,462 shares of the industrial products company’s stock valued at $5,353,000 after acquiring an additional 11,279 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of Barnes Group during the 3rd quarter worth about $432,000. 90.82% of the stock is currently 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.