Haynes International (NASDAQ:HAYN) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Haynes International (NASDAQ:HAYN) in a research note released on Saturday. The firm issued a hold rating on the basic materials company’s stock.

Separately, Northcoast Research reiterated a neutral rating on shares of Haynes International in a research report on Thursday, March 14th.

Haynes International Trading Down 0.0 %

Shares of HAYN opened at $58.25 on Friday. The company’s fifty day moving average is $59.26 and its 200 day moving average is $57.92. Haynes International has a fifty-two week low of $41.15 and a fifty-two week high of $60.86. The stock has a market capitalization of $744.44 million, a PE ratio of 19.68, a P/E/G ratio of 0.90 and a beta of 1.40. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.75 and a current ratio of 7.63.

Haynes International (NASDAQ:HAYN) last announced its quarterly earnings results on Thursday, May 9th. The basic materials company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.20). Haynes International had a return on equity of 8.79% and a net margin of 6.31%. The business had revenue of $152.46 million during the quarter, compared to the consensus estimate of $160.52 million. Sell-side analysts expect that Haynes International will post 3.07 earnings per share for the current fiscal year.

Haynes International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date was Friday, May 31st. Haynes International’s dividend payout ratio (DPR) is 29.73%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Covestor Ltd increased its position in Haynes International by 484.2% during the third quarter. Covestor Ltd now owns 1,589 shares of the basic materials company’s stock valued at $74,000 after acquiring an additional 1,317 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Haynes International by 352.9% during the fourth quarter. Russell Investments Group Ltd. now owns 27,240 shares of the basic materials company’s stock valued at $1,554,000 after purchasing an additional 21,225 shares during the period. New York State Teachers Retirement System boosted its stake in shares of Haynes International by 2.4% during the fourth quarter. New York State Teachers Retirement System now owns 26,061 shares of the basic materials company’s stock valued at $1,487,000 after purchasing an additional 600 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Haynes International during the first quarter valued at $114,000. Finally, Gabelli Funds LLC purchased a new stake in shares of Haynes International during the first quarter valued at $8,325,000. Institutional investors own 97.31% of the company’s stock.

About Haynes International

Haynes International, Inc develops, manufactures, markets, and distributes nickel and cobalt-based alloys in sheet, coil, and plate forms in the United States, Europe, China, and internationally. The company offers high-temperature resistant alloys used by manufacturers of equipment, including jet engines for the aerospace market, gas turbine engines for power generation, and industrial heating equipment.