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 research note issued to investors on Tuesday morning. The firm issued a hold rating on the basic materials company’s stock.

Haynes International Stock Performance

Shares of Haynes International stock opened at $59.40 on Tuesday. The firm has a market cap 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. The firm’s 50-day simple moving average is $59.64 and its 200-day simple moving average is $59.50. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.89 and a current ratio of 7.74. Haynes International has a 1 year low of $41.15 and a 1 year high of $60.86.

Haynes International (NASDAQ:HAYN) last announced 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). Haynes International had a net margin of 6.11% and a return on equity of 8.45%. The business had revenue of $153.92 million for the quarter, compared to the consensus estimate of $159.35 million. Equities analysts forecast that Haynes International will post 2.55 earnings per share for the current fiscal year.

Haynes International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, August 30th. Haynes International’s dividend payout ratio is presently 29.73%.

Insider Activity at Haynes International

In related news, CFO Daniel W. Maudlin sold 6,744 shares of the business’s stock in a transaction dated 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 owns 30,287 shares of the company’s stock, valued at approximately $1,806,922.42. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of HAYN. Russell Investments Group Ltd. grew its position 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 during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Haynes International by 67.1% in the first quarter. BNP Paribas Financial Markets now owns 6,233 shares of the basic materials company’s stock valued at $375,000 after acquiring an additional 2,504 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Haynes International in the first quarter valued at approximately $114,000. Gabelli Funds LLC bought a new position in shares of Haynes International in the first quarter valued at approximately $8,325,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in shares of Haynes International in the first quarter valued at approximately $7,070,000. Institutional investors own 97.31% of the company’s stock.

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.