Haynes International (NASDAQ:HAYN) Coverage Initiated at StockNews.com

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

Haynes International Price Performance

Shares of NASDAQ:HAYN opened at $59.55 on Friday. The company has a 50 day moving average of $59.57 and a 200 day moving average of $59.46. 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 has a market cap of $761.23 million, a P/E ratio of 20.12, a P/E/G ratio of 1.10 and a beta of 1.39. Haynes International has a 12 month low of $41.15 and a 12 month high of $60.86.

Haynes International (NASDAQ:HAYN) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.63 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 firm had revenue of $153.92 million for the quarter, compared to analysts’ expectations of $159.35 million. As a group, sell-side analysts forecast that Haynes International will post 2.55 EPS for the current fiscal year.

Haynes International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders 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 dividend yield of 1.48%. Haynes International’s payout ratio is currently 29.73%.

Insider Activity

In related news, CFO Daniel W. Maudlin sold 6,744 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $59.66, for a total value of $402,347.04. Following the sale, the chief financial officer now directly owns 30,287 shares of the company’s stock, valued at $1,806,922.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Haynes International

A number of institutional investors have recently made changes to their positions in HAYN. BNP Paribas Financial Markets grew its position in Haynes International by 67.1% in the first quarter. BNP Paribas Financial Markets now owns 6,233 shares of the basic materials company’s stock worth $375,000 after acquiring an additional 2,504 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Haynes International in the 1st quarter worth about $114,000. Russell Investments Group Ltd. increased its position in shares of Haynes International by 16.9% during the 1st quarter. Russell Investments Group Ltd. now owns 31,845 shares of the basic materials company’s stock valued at $1,915,000 after purchasing an additional 4,605 shares during the last quarter. Gabelli Funds LLC purchased a new position in shares of Haynes International during the 1st quarter valued at about $8,325,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Haynes International in the 1st quarter worth approximately $7,070,000. Institutional investors 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.