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

StockNews.com began coverage on shares of Haynes International (NASDAQ:HAYN) in a research report released on Saturday. The brokerage issued a hold rating on the basic materials company’s stock.

Haynes International Price Performance

Shares of NASDAQ:HAYN opened at $59.81 on Friday. The company has a market capitalization of $764.55 million, a PE ratio of 20.21, a PEG ratio of 0.66 and a beta of 1.39. The business has a fifty day moving average price of $59.58 and a 200-day moving average price of $59.45. Haynes International has a 1-year low of $41.15 and a 1-year 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.

Haynes International (NASDAQ:HAYN) last released its quarterly earnings data 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). The firm had revenue of $153.92 million for the quarter, compared to the consensus estimate of $159.35 million. Haynes International had a net margin of 6.11% and a return on equity of 8.45%. As a group, equities analysts expect that Haynes International will post 2.55 EPS for the current fiscal year.

Haynes International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid 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 1.47%. Haynes International’s dividend payout ratio is 29.73%.

Insiders Place Their Bets

In related news, CFO Daniel W. Maudlin sold 6,744 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 30,287 shares in the company, valued at $1,806,922.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of Haynes International

Several large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its holdings in Haynes International by 1,035.8% in the 2nd 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 period. Gabelli Funds LLC bought a new position in shares of Haynes International in the first quarter worth about $8,325,000. Cornercap Investment Counsel Inc. bought a new position in shares of Haynes International in the second quarter worth about $526,000. Nisa Investment Advisors LLC lifted its position in shares of Haynes International by 71,414.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 25,030 shares of the basic materials company’s stock valued at $1,469,000 after buying an additional 24,995 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake 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 currently owned by 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.