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 research note issued to investors on Wednesday morning. The brokerage issued a hold rating on the basic materials company’s stock.

Haynes International Price Performance

Shares of NASDAQ HAYN opened at $58.88 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. Haynes International has a fifty-two week low of $41.15 and a fifty-two week high of $60.86. The stock has a market cap of $752.66 million, a PE ratio of 19.89, a price-to-earnings-growth ratio of 1.11 and a beta of 1.40. The stock has a fifty day moving average of $59.60 and a 200-day moving average of $59.47.

Haynes International (NASDAQ:HAYN) last posted its earnings results on Thursday, August 1st. The basic materials company reported $0.63 earnings per share 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 analysts’ expectations of $159.35 million. Equities research analysts anticipate that Haynes International will post 2.55 earnings per share for the current year.

Haynes International Announces Dividend

The company 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. This represents a $0.88 annualized dividend and a yield of 1.49%. The ex-dividend date was Friday, August 30th. Haynes International’s payout ratio is 29.73%.

Insider Transactions at Haynes International

In related 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 transaction of $402,347.04. Following the completion of the transaction, the chief financial officer now directly owns 30,287 shares in the company, valued at $1,806,922.42. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Haynes International

Hedge funds have recently bought and sold shares of the stock. Gabelli Funds LLC purchased a new stake in shares of Haynes International during the 1st quarter valued at $8,325,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in Haynes International in the first quarter valued at $7,070,000. Nisa Investment Advisors LLC raised its position 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 valued at $1,469,000 after purchasing an additional 24,995 shares in the last quarter. SG Americas Securities LLC lifted 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 worth $1,262,000 after purchasing an additional 19,608 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. purchased a new position in shares of Haynes International in the 2nd quarter worth about $526,000. 97.31% of the stock is currently 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.