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

Analysts at StockNews.com assumed coverage on shares of Haynes International (NASDAQ:HAYN) in a research note issued to investors on Saturday. The brokerage set a “hold” rating on the basic materials company’s stock.

Haynes International Stock Up 0.1 %

NASDAQ HAYN opened at $59.85 on Friday. The company has a current ratio of 7.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average is $59.58 and its two-hundred day moving average is $59.45. Haynes International has a 1-year low of $41.15 and a 1-year high of $60.86. The company has a market capitalization of $765.06 million, a price-to-earnings ratio of 20.22, a PEG ratio of 0.66 and a beta of 1.39.

Haynes International (NASDAQ:HAYN) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.33). The business 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%. Equities analysts forecast 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 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 completion of the transaction, the chief financial officer now directly owns 30,287 shares of the company’s stock, valued at approximately $1,806,922.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Haynes International

Several institutional investors and hedge funds have recently made changes to their positions in HAYN. SG Americas Securities LLC bought a new stake in Haynes International during the first quarter worth about $114,000. BNP Paribas Financial Markets lifted its position 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 buying an additional 2,504 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new stake in Haynes International in the second quarter valued at about $526,000. Nisa Investment Advisors LLC raised its stake in Haynes International by 71,414.3% during the second quarter. Nisa Investment Advisors LLC now owns 25,030 shares of the basic materials company’s stock worth $1,469,000 after acquiring an additional 24,995 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Haynes International by 16.9% in the first quarter. Russell Investments Group Ltd. now owns 31,845 shares of the basic materials company’s stock worth $1,915,000 after acquiring an additional 4,605 shares during the last quarter. Institutional investors and hedge funds own 97.31% of the company’s stock.

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.