Haynes International (HAYN) Downgraded by BidaskClub

BidaskClub cut shares of Haynes International (NASDAQ:HAYN) from a hold rating to a sell rating in a research report released on Wednesday morning.

Other equities research analysts have also recently issued research reports about the stock. KeyCorp reiterated a hold rating on shares of Haynes International in a research report on Thursday, November 16th. Zacks Investment Research upgraded shares of Haynes International from a strong sell rating to a hold rating in a research report on Monday, October 30th. Finally, ValuEngine cut shares of Haynes International from a hold rating to a sell rating in a research report on Friday, September 1st. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $36.50.

Shares of Haynes International (HAYN) opened at $32.05 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.49 and a quick ratio of 2.02. Haynes International has a 1 year low of $28.97 and a 1 year high of $45.15.

Haynes International (NASDAQ:HAYN) last posted its quarterly earnings data on Thursday, November 16th. The basic materials company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.06). The company had revenue of $100.80 million during the quarter, compared to analyst estimates of $100.19 million. Haynes International had a negative net margin of 2.58% and a negative return on equity of 3.05%. The company’s revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 EPS. equities research analysts forecast that Haynes International will post 0.28 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.75%. The ex-dividend date was Thursday, November 30th. Haynes International’s dividend payout ratio is -106.02%.

In other Haynes International news, Director Dawne S. Hickton purchased 2,000 shares of the stock in a transaction dated Thursday, December 14th. The stock was bought at an average price of $31.50 per share, for a total transaction of $63,000.00. Following the transaction, the director now directly owns 5,300 shares in the company, valued at $166,950. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 4.41% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of HAYN. Teachers Advisors LLC grew its holdings in Haynes International by 2.9% during the first quarter. Teachers Advisors LLC now owns 22,276 shares of the basic materials company’s stock valued at $849,000 after purchasing an additional 636 shares during the period. Aperio Group LLC grew its holdings in Haynes International by 52.3% during the second quarter. Aperio Group LLC now owns 9,144 shares of the basic materials company’s stock valued at $332,000 after purchasing an additional 3,140 shares during the period. Municipal Employees Retirement System of Michigan grew its holdings in Haynes International by 4.6% during the second quarter. Municipal Employees Retirement System of Michigan now owns 2,950 shares of the basic materials company’s stock valued at $107,000 after purchasing an additional 130 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Haynes International by 20.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 64,330 shares of the basic materials company’s stock valued at $2,336,000 after purchasing an additional 10,900 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Haynes International during the second quarter valued at approximately $140,000. Hedge funds and other institutional investors own 98.56% of the company’s stock.

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About Haynes International

Haynes International, Inc (Haynes) is a producer of nickel- and cobalt-based alloys in flat product forms, such as sheet, coil and plate forms. The Company also produces its products as seamless and welded tubulars, and in slab, bar, billet and wire forms. It focuses on developing, manufacturing, marketing and distributing alloys, which are sold in the aerospace, chemical processing and industrial gas turbine industries.

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