StockNews.com Begins Coverage on Haynes International (NASDAQ:HAYN)

Investment analysts at StockNews.com started coverage on shares of Haynes International (NASDAQ:HAYN) in a research report issued on Tuesday. The brokerage set a “hold” rating on the basic materials company’s stock.

Haynes International Price Performance

Shares of NASDAQ HAYN opened at $59.63 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.89 and a current ratio of 7.74. The firm’s 50-day simple moving average is $59.59 and its 200 day simple moving average is $59.51. The stock has a market cap of $762.07 million, a price-to-earnings ratio of 20.15, a PEG ratio of 1.12 and a beta of 1.40. Haynes International has a fifty-two week low of $41.15 and a fifty-two week high of $60.86.

Haynes International (NASDAQ:HAYN) last posted its earnings results on Thursday, August 1st. The basic materials company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.33). The company had revenue of $153.92 million during the quarter, compared to the consensus estimate of $159.35 million. Haynes International had a net margin of 6.11% and a return on equity of 8.45%. As a group, research analysts anticipate that Haynes International will post 2.55 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Daniel W. Maudlin sold 6,744 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $59.66, for a total transaction of $402,347.04. Following the transaction, the chief financial officer now directly owns 30,287 shares in the company, valued at $1,806,922.42. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Haynes International

A number of hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its position in Haynes International by 352.9% in the fourth quarter. Russell Investments Group Ltd. now owns 27,240 shares of the basic materials company’s stock worth $1,554,000 after purchasing an additional 21,225 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Haynes International by 67.1% during the 1st quarter. BNP Paribas Financial Markets now owns 6,233 shares of the basic materials company’s stock worth $375,000 after purchasing an additional 2,504 shares during the period. SG Americas Securities LLC purchased a new position in shares of Haynes International in the 1st quarter worth about $114,000. Gabelli Funds LLC purchased a new position in shares of Haynes International in the 1st quarter worth about $8,325,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in Haynes International during the first quarter valued at about $7,070,000. 97.31% of the stock is currently owned by institutional investors.

Haynes International Company Profile

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.