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 report released on Tuesday morning. The firm issued a hold rating on the basic materials company’s stock.

Haynes International Trading Down 0.1 %

Haynes International stock opened at $59.40 on Tuesday. The stock has a market capitalization of $759.13 million, a PE ratio of 20.07, a price-to-earnings-growth ratio of 1.11 and a beta of 1.40. 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 firm has a 50 day simple moving average of $59.64 and a 200-day simple moving average of $59.50.

Haynes International (NASDAQ:HAYN) last issued its earnings results 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 business had revenue of $153.92 million for the quarter, compared to the consensus estimate of $159.35 million. Haynes International had a return on equity of 8.45% and a net margin of 6.11%. As a group, equities research 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 will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Friday, August 30th. Haynes International’s payout ratio is 29.73%.

Insider Buying and Selling

In related news, CFO Daniel W. Maudlin sold 6,744 shares of the firm’s 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 completion of the sale, the chief financial officer now directly owns 30,287 shares in the company, valued at $1,806,922.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 6.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Haynes International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its stake in shares of Haynes International by 3.2% during the 2nd 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 during the period. SG Americas Securities LLC acquired a new stake in shares of Haynes International during the 1st quarter valued at $114,000. BNP Paribas Financial Markets boosted its stake in shares of Haynes International by 67.1% during the 1st quarter. BNP Paribas Financial Markets now owns 6,233 shares of the basic materials company’s stock valued at $375,000 after buying an additional 2,504 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of 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 valued at $9,446,000 after buying an additional 4,153 shares during the period. Finally, Russell Investments Group Ltd. boosted 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 buying an additional 4,605 shares during the period. Institutional investors and hedge funds own 97.31% of the company’s stock.

Haynes International Company Profile

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.