Haynes International (NASDAQ:HAYN) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Haynes International (NASDAQ:HAYN) from a sell rating to a hold rating in a research note published on Friday, Zacks.com reports.

According to Zacks, “Haynes International, Inc. is a technology-oriented company devoted primarily to the development and manufacture of high-performance nickel- and cobalt-based alloys for service in severe corrosion and high-temperature applications. Superior customer service and technical support are provided worldwide by well-trained professionals within the company. Haynes’ service centers and affiliates have available in-stock sheet, plate, bar, wire, tubing, forging stock, fittings, and flanges. “

Several other research firms have also commented on HAYN. BidaskClub raised Haynes International from a sell rating to a hold rating in a report on Monday, September 16th. ValuEngine lowered Haynes International from a hold rating to a sell rating in a report on Friday, October 25th.

NASDAQ HAYN traded down $0.83 on Friday, hitting $37.61. 65,552 shares of the stock traded hands, compared to its average volume of 89,648. The company has a market capitalization of $474.76 million, a P/E ratio of 49.27 and a beta of 1.70. The stock has a 50-day moving average of $36.59 and a 200 day moving average of $33.10. Haynes International has a twelve month low of $24.46 and a twelve month high of $39.04. The company has a current ratio of 6.19, a quick ratio of 1.88 and a debt-to-equity ratio of 0.03.

Haynes International (NASDAQ:HAYN) last posted its earnings results on Thursday, November 14th. The basic materials company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.08. The company had revenue of $129.60 million during the quarter, compared to analyst estimates of $129.35 million. Haynes International had a return on equity of 3.03% and a net margin of 1.99%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 earnings per share. As a group, equities research analysts expect that Haynes International will post 1.75 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Friday, November 29th. Haynes International’s dividend payout ratio (DPR) is presently 112.82%.

In related news, VP Scott R. Pinkham sold 4,100 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $36.69, for a total value of $150,429.00. Following the completion of the transaction, the vice president now directly owns 19,724 shares of the company’s stock, valued at approximately $723,673.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Venkat Ishwar sold 2,500 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $37.52, for a total value of $93,800.00. Following the completion of the transaction, the vice president now directly owns 13,347 shares of the company’s stock, valued at $500,779.44. The disclosure for this sale can be found here. Insiders have sold 10,300 shares of company stock valued at $382,387 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Quantamental Technologies LLC grew its holdings in Haynes International by 64.9% in the 2nd quarter. Quantamental Technologies LLC now owns 978 shares of the basic materials company’s stock worth $31,000 after buying an additional 385 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Haynes International by 16.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,191 shares of the basic materials company’s stock worth $258,000 after buying an additional 1,164 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in Haynes International in the 2nd quarter worth approximately $332,000. Aperio Group LLC grew its holdings in Haynes International by 35.0% in the 2nd quarter. Aperio Group LLC now owns 10,804 shares of the basic materials company’s stock worth $344,000 after buying an additional 2,800 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in Haynes International by 124.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 9,614 shares of the basic materials company’s stock worth $344,000 after buying an additional 5,336 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Haynes International Company Profile

Haynes International, Inc engages in the development, manufacture, and marketing of nickel-and cobalt-based alloys used in corrosion and high-temperature applications. It supports a range of industries such as aerospace, chemical processing, and industrial gas turbine. The company was founded by Elwood P.

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