Haynes International (NASDAQ:HAYN) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Haynes International (NASDAQ:HAYN) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

Haynes International Price Performance

Shares of NASDAQ:HAYN opened at $60.99 on Tuesday. The firm has a market cap of $779.45 million, a PE ratio of 20.96, a price-to-earnings-growth ratio of 0.85 and a beta of 1.39. The firm’s fifty day moving average is $60.03 and its 200-day moving average is $59.51. 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 $47.69 and a 52 week high of $61.01.

Haynes International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.88 annualized dividend and a yield of 1.44%. Haynes International’s payout ratio is 30.24%.

Insider Activity at Haynes International

In other 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 completion of the sale, the chief financial officer now directly owns 30,287 shares of the company’s stock, valued at $1,806,922.42. The trade was a 18.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 6.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Haynes International

Several hedge funds and other institutional investors have recently made changes to their positions in HAYN. SG Americas Securities LLC grew its position in Haynes International by 1,035.8% in the 2nd quarter. SG Americas Securities LLC now owns 21,501 shares of the basic materials company’s stock worth $1,262,000 after purchasing an additional 19,608 shares in the last quarter. Cornercap Investment Counsel Inc. purchased a new position in Haynes International in the second quarter valued at about $526,000. Nisa Investment Advisors LLC boosted its stake in Haynes International by 71,414.3% in the second quarter. Nisa Investment Advisors LLC now owns 25,030 shares of the basic materials company’s stock valued at $1,469,000 after acquiring an additional 24,995 shares during the last quarter. Gabelli Funds LLC boosted its stake in Haynes International by 29.5% in the second quarter. Gabelli Funds LLC now owns 179,371 shares of the basic materials company’s stock valued at $10,529,000 after acquiring an additional 40,904 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Haynes International by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 160,923 shares of the basic materials company’s stock valued at $9,446,000 after acquiring an additional 4,153 shares during the last quarter. 97.31% of the stock is 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.