Haynes International (NASDAQ:HAYN) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Haynes International (NASDAQ:HAYN) in a research note issued to investors on Wednesday. The brokerage issued a hold rating on the basic materials company’s stock.

Haynes International Trading Down 0.1 %

Shares of Haynes International stock opened at $58.88 on Wednesday. Haynes International has a 52-week low of $41.15 and a 52-week high of $60.86. The firm has a 50-day moving average of $59.61 and a 200-day moving average of $59.48. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.89 and a current ratio of 7.74. The stock has a market cap of $752.66 million, a PE ratio of 19.90, a PEG ratio of 1.11 and a beta of 1.40.

Haynes International (NASDAQ:HAYN) last posted its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.33). Haynes International had a return on equity of 8.45% and a net margin of 6.11%. The firm had revenue of $153.92 million for the quarter, compared to the consensus estimate of $159.35 million. As a group, sell-side analysts forecast that Haynes International will post 2.55 EPS for the current year.

Haynes International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $0.22 per share. The ex-dividend date was Friday, August 30th. This represents a $0.88 annualized dividend and a yield of 1.49%. Haynes International’s dividend payout ratio is 29.73%.

Insiders Place Their Bets

In other Haynes International 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 owns 30,287 shares of the company’s stock, valued at $1,806,922.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Gabelli Funds LLC increased its stake in shares of Haynes International by 29.5% in the second quarter. Gabelli Funds LLC now owns 179,371 shares of the basic materials company’s stock valued at $10,529,000 after buying an additional 40,904 shares during the period. Bank of New York Mellon Corp boosted its holdings in Haynes International by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 160,923 shares of the basic materials company’s stock valued at $9,446,000 after acquiring an additional 4,153 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Haynes International in the first quarter valued at approximately $7,070,000. Rhumbline Advisers boosted its holdings in Haynes International by 3.2% in the second quarter. Rhumbline Advisers now owns 39,983 shares of the basic materials company’s stock valued at $2,347,000 after acquiring an additional 1,245 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in 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 valued at $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.

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.