Noble Financial Has Negative Outlook of HAYN FY2024 Earnings

Haynes International, Inc. (NASDAQ:HAYN) – Stock analysts at Noble Financial dropped their FY2024 earnings estimates for shares of Haynes International in a research note issued on Friday, November 1st. Noble Financial analyst M. Reichman now expects that the basic materials company will post earnings of $2.46 per share for the year, down from their prior forecast of $2.52. The consensus estimate for Haynes International’s current full-year earnings is $2.53 per share. Noble Financial also issued estimates for Haynes International’s Q4 2024 earnings at $0.57 EPS, Q2 2025 earnings at $0.85 EPS, Q3 2025 earnings at $0.98 EPS and Q4 2025 earnings at $1.02 EPS.

Separately, StockNews.com initiated coverage on shares of Haynes International in a report on Saturday, October 12th. They issued a “hold” rating on the stock.

Haynes International Stock Performance

NASDAQ:HAYN opened at $60.45 on Monday. The business’s fifty day moving average is $59.71 and its 200 day moving average is $59.43. The firm has a market cap of $772.85 million, a price-to-earnings ratio of 20.77, a PEG ratio of 0.71 and a beta of 1.39. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.89 and a current ratio of 7.74. Haynes International has a 52-week low of $45.68 and a 52-week high of $60.86.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HAYN. SG Americas Securities LLC purchased a new position in shares of Haynes International in the 1st quarter worth about $114,000. BNP Paribas Financial Markets lifted its holdings in shares of Haynes International by 67.1% in the 1st quarter. BNP Paribas Financial Markets now owns 6,233 shares of the basic materials company’s stock worth $375,000 after acquiring an additional 2,504 shares during the last quarter. Cornercap Investment Counsel Inc. purchased a new stake in shares of Haynes International in the 2nd quarter valued at $526,000. Nisa Investment Advisors LLC grew its holdings in shares of Haynes International by 71,414.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 25,030 shares of the basic materials company’s stock valued at $1,469,000 after purchasing an additional 24,995 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in Haynes International by 16.9% in the 1st quarter. Russell Investments Group Ltd. now owns 31,845 shares of the basic materials company’s stock worth $1,915,000 after purchasing an additional 4,605 shares during the period. 97.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Haynes International

In other Haynes International news, CFO Daniel W. Maudlin sold 6,744 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $59.66, for a total value 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.10% of the stock is owned by corporate insiders.

Haynes International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a $0.22 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.46%. Haynes International’s dividend payout ratio (DPR) is presently 30.24%.

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.