StockNews.com assumed coverage on shares of Barnes Group (NYSE:B - Free Report) in a research report sent to investors on Tuesday morning. The firm issued a sell rating on the industrial products company's stock.
A number of other equities research analysts also recently weighed in on the stock. DA Davidson reaffirmed a "neutral" rating and issued a $47.50 target price (down from $52.00) on shares of Barnes Group in a research note 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.
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Barnes Group Price Performance
B stock traded up $0.09 during mid-day trading on Tuesday, reaching $47.40. 981,102 shares of the company traded hands, compared to its average volume of 852,475. The company has a fifty day moving average price of $47.05 and a 200-day moving average price of $43.45. Barnes Group has a 52-week low of $30.95 and a 52-week high of $47.45. The company has a market capitalization of $2.41 billion, a P/E ratio of -61.55 and a beta of 1.32. 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 Trading of Barnes Group
Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in Barnes Group by 17.1% during the third quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company's stock valued at $66,000 after purchasing an additional 238 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Barnes Group in the 3rd quarter worth approximately $178,000. Centiva Capital LP bought a new stake in Barnes Group during the 3rd quarter worth approximately $212,000. Captrust Financial Advisors purchased a new position in Barnes Group during the third quarter valued at approximately $224,000. Finally, Needham Investment Management LLC bought a new position in shares of Barnes Group in the third quarter worth approximately $242,000. 90.82% of the stock is currently owned by institutional investors.
About Barnes Group
(
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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.
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