Haynes International (NASDAQ:HAYN) Lowered to Sell Rating by StockNews.com

Haynes International (NASDAQ:HAYN) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Monday.

Haynes International Stock Up 0.0 %

HAYN stock opened at $60.97 on Monday. Haynes International has a 52 week low of $47.69 and a 52 week high of $61.00. The company has a market cap of $779.20 million, a PE ratio of 20.95, a price-to-earnings-growth ratio of 0.85 and a beta of 1.39. The company has a quick ratio of 1.89, a current ratio of 7.74 and a debt-to-equity ratio of 0.22. The business has a 50-day simple moving average of $59.89 and a 200 day simple moving average of $59.47.

Insider Buying and Selling at Haynes International

In other news, CFO Daniel W. Maudlin sold 6,744 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was 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 of the company’s stock, valued at $1,806,922.42. This represents a 18.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Haynes International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in Haynes International by 2.0% in the third quarter. Geode Capital Management LLC now owns 298,479 shares of the basic materials company’s stock worth $17,774,000 after acquiring an additional 5,767 shares during the period. Anson Funds Management LP bought a new stake in shares of Haynes International during the 3rd quarter valued at about $1,445,000. BNP Paribas Financial Markets lifted its holdings in shares of Haynes International by 8.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,775 shares of the basic materials company’s stock worth $165,000 after acquiring an additional 220 shares during the last quarter. Gabelli Funds LLC boosted its holdings in shares of Haynes International by 29.5% in the 2nd quarter. Gabelli Funds LLC now owns 179,371 shares of the basic materials company’s stock worth $10,529,000 after purchasing an additional 40,904 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. purchased a new stake in Haynes International in the second quarter worth approximately $526,000. Hedge funds and other 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.