StockNews.com Begins Coverage on Haynes International (NASDAQ:HAYN)

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

Other equities research analysts also recently issued reports about the stock. Northcoast Research reiterated a neutral rating on shares of Haynes International in a report on Thursday, March 14th. Noble Financial cut Haynes International from an outperform rating to a market perform rating in a research report on Tuesday, February 6th.

Haynes International Price Performance

Shares of NASDAQ HAYN opened at $60.07 on Friday. The company has a fifty day moving average price of $59.92 and a 200 day moving average price of $54.06. Haynes International has a 1-year low of $41.15 and a 1-year high of $60.86. The firm has a market cap of $767.69 million, a PE ratio of 18.43, a PEG ratio of 0.75 and a beta of 1.43. The company has a current ratio of 7.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.26.

Haynes International (NASDAQ:HAYN) last posted its quarterly earnings results on Friday, February 9th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.10). Haynes International had a return on equity of 9.89% and a net margin of 6.94%. The firm had revenue of $147.36 million for the quarter, compared to the consensus estimate of $151.94 million. During the same period last year, the company posted $0.61 earnings per share. Research analysts predict that Haynes International will post 3.83 earnings per share for the current fiscal year.

Haynes International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Thursday, February 29th. Haynes International’s dividend payout ratio is presently 26.99%.

Institutional Investors Weigh In On Haynes International

Several hedge funds have recently bought and sold shares of the stock. New York State Teachers Retirement System increased its position in Haynes International by 2.4% during the 4th quarter. New York State Teachers Retirement System now owns 26,061 shares of the basic materials company’s stock worth $1,487,000 after buying an additional 600 shares during the period. Covestor Ltd grew its stake in shares of Haynes International by 484.2% in the third quarter. Covestor Ltd now owns 1,589 shares of the basic materials company’s stock valued at $74,000 after acquiring an additional 1,317 shares in the last quarter. Foundry Partners LLC increased its position in Haynes International by 10.1% during the third quarter. Foundry Partners LLC now owns 102,925 shares of the basic materials company’s stock worth $4,788,000 after acquiring an additional 9,435 shares during the period. Russell Investments Group Ltd. raised its stake in Haynes International by 352.9% in the 4th quarter. Russell Investments Group Ltd. now owns 27,240 shares of the basic materials company’s stock worth $1,554,000 after purchasing an additional 21,225 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. bought a new stake in Haynes International in the 3rd quarter valued at about $1,698,000. 97.31% of the stock is currently owned by institutional investors and hedge funds.

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.