Haynes International (NASDAQ:HAYN) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of Haynes International (NASDAQ:HAYN) in a report published on Wednesday morning. The firm issued a hold rating on the basic materials company’s stock.

Haynes International Stock Performance

NASDAQ:HAYN opened at $58.50 on Wednesday. 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 stock has a 50-day simple moving average of $59.63 and a two-hundred day simple moving average of $59.49. The firm has a market capitalization of $747.81 million, a PE ratio of 19.80, a P/E/G ratio of 1.11 and a beta of 1.40. Haynes International has a 52-week low of $41.15 and a 52-week high of $60.86.

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

Haynes International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date was Friday, August 30th. Haynes International’s dividend payout ratio (DPR) is 29.73%.

Insider Buying and Selling

In other news, CFO Daniel W. Maudlin sold 6,744 shares of the business’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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Haynes International

Several hedge funds have recently modified their holdings of HAYN. Gabelli Funds LLC bought a new stake in Haynes International in the 1st quarter valued at $8,325,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Haynes International in the first quarter worth about $7,070,000. Nisa Investment Advisors LLC lifted its position in shares of 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 worth $1,469,000 after buying an additional 24,995 shares in the last quarter. SG Americas Securities LLC boosted its stake in Haynes International by 1,035.8% during the second quarter. SG Americas Securities LLC now owns 21,501 shares of the basic materials company’s stock valued at $1,262,000 after buying an additional 19,608 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. purchased a new position in Haynes International during the 2nd quarter valued at 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.