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

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

Haynes International Stock Performance

Haynes International stock opened at $59.78 on Wednesday. Haynes International has a 12-month low of $41.15 and a 12-month high of $60.86. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.63 and a quick ratio of 1.75. The company has a market capitalization of $763.99 million, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 0.94 and a beta of 1.40. The firm’s fifty day moving average price is $58.87 and its 200 day moving average price is $58.70.

Haynes International (NASDAQ:HAYN) last announced its earnings results on Thursday, May 9th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.20). The business had revenue of $152.46 million for the quarter, compared to analysts’ expectations of $160.52 million. Haynes International had a return on equity of 8.79% and a net margin of 6.31%. On average, research analysts forecast that Haynes International will post 3.02 EPS for the current fiscal year.

Haynes International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Friday, May 31st. Haynes International’s dividend payout ratio (DPR) is currently 29.73%.

Institutional Trading of Haynes International

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in Haynes International by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 160,923 shares of the basic materials company’s stock worth $9,446,000 after acquiring an additional 4,153 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of 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 purchasing an additional 24,995 shares during the last quarter. SG Americas Securities LLC grew its stake in Haynes International by 1,035.8% in the second 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. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Haynes International in the first quarter valued at about $7,070,000. Finally, Gabelli Funds LLC acquired a new stake in Haynes International during the first quarter valued at approximately $8,325,000. 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.