Haynes International (NASDAQ:HAYN) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Haynes International (NASDAQ:HAYN) from a sell rating to a hold rating in a report published on Tuesday.

Haynes International Price Performance

Shares of NASDAQ HAYN opened at $60.99 on Tuesday. Haynes International has a 12-month low of $47.69 and a 12-month high of $61.01. The company has a market cap of $779.45 million, a P/E ratio of 20.96, a P/E/G ratio of 0.85 and a beta of 1.39. 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 fifty day moving average price of $60.17 and a 200 day moving average price of $59.54.

Insider Activity at Haynes International

In other Haynes International news, CFO Daniel W. Maudlin sold 6,744 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $59.66, for a total value 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 $1,806,922.42. This represents a 18.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 6.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Haynes International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its position in Haynes International by 8.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,775 shares of the basic materials company’s stock valued at $165,000 after buying an additional 220 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Haynes International by 3.2% during the second quarter. Rhumbline Advisers now owns 39,983 shares of the basic materials company’s stock worth $2,347,000 after purchasing an additional 1,245 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Haynes International by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 160,923 shares of the basic materials company’s stock worth $9,446,000 after purchasing an additional 4,153 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Haynes International by 2.0% during the third quarter. Geode Capital Management LLC now owns 298,479 shares of the basic materials company’s stock worth $17,774,000 after purchasing an additional 5,767 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new position in shares of Haynes International during the second quarter worth about $526,000. 97.31% of the stock is owned by hedge funds and other institutional investors.

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.