Haynes International (NASDAQ:HAYN) Now Covered by Analysts at StockNews.com

Analysts at StockNews.com started coverage on shares of Haynes International (NASDAQ:HAYN) in a note issued to investors on Thursday. The firm set a “hold” rating on the basic materials company’s stock.

Haynes International Trading Down 0.1 %

NASDAQ HAYN opened at $59.16 on Thursday. The firm’s fifty day moving average price is $59.58 and its 200 day moving average price is $59.47. 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 0.22, a current ratio of 7.74 and a quick ratio of 1.89. The company has a market capitalization of $756.24 million, a price-to-earnings ratio of 19.99, a price-to-earnings-growth ratio of 1.10 and a beta of 1.40.

Haynes International (NASDAQ:HAYN) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.63 earnings per share (EPS) 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 analysts’ expectations of $159.35 million. On average, sell-side analysts expect that Haynes International will post 2.55 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Daniel W. Maudlin sold 6,744 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $59.66, for a total transaction of $402,347.04. Following the completion of the sale, the chief financial officer now owns 30,287 shares in the company, valued at approximately $1,806,922.42. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of Haynes International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gabelli Funds LLC grew its stake in shares of Haynes International by 29.5% in the 2nd quarter. Gabelli Funds LLC now owns 179,371 shares of the basic materials company’s stock valued at $10,529,000 after purchasing an additional 40,904 shares during the last quarter. Bank of New York Mellon Corp raised its position 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 buying an additional 4,153 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of Haynes International in the 1st quarter valued at approximately $7,070,000. Rhumbline Advisers increased 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 buying an additional 1,245 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted 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 acquiring an additional 4,605 shares during the period. 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.