Haynes International (NASDAQ:HAYN) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com started coverage on shares of Haynes International (NASDAQ:HAYN) in a research report issued on Wednesday. The brokerage set a “hold” rating on the basic materials company’s stock.

Haynes International Stock Performance

NASDAQ HAYN opened at $58.96 on Wednesday. Haynes International has a 52-week low of $41.15 and a 52-week high of $60.86. The firm has a market capitalization of $753.69 million, a price-to-earnings ratio of 19.92, a P/E/G ratio of 1.11 and a beta of 1.40. The company’s fifty day moving average is $59.61 and its two-hundred day moving average is $59.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 7.74 and a quick ratio of 1.89.

Haynes International (NASDAQ:HAYN) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.33). Haynes International had a return on equity of 8.45% and a net margin of 6.11%. The firm had revenue of $153.92 million during the quarter, compared to the consensus estimate of $159.35 million. Equities research analysts forecast that Haynes International will post 2.55 EPS for the current year.

Insider Transactions at Haynes International

In other news, CFO Daniel W. Maudlin sold 6,744 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $59.66, for a total value of $402,347.04. Following the completion of the transaction, the chief financial officer now directly 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 at this link. 6.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Haynes International

Hedge funds have recently modified their holdings of the stock. Gabelli Funds LLC increased its holdings in Haynes International by 29.5% during the 2nd quarter. Gabelli Funds LLC now owns 179,371 shares of the basic materials company’s stock valued at $10,529,000 after purchasing an additional 40,904 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in 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 purchasing an additional 4,153 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in Haynes International during the 1st quarter valued at $7,070,000. Rhumbline Advisers increased its holdings in 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 purchasing an additional 1,245 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in 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 purchasing an additional 4,605 shares in the last quarter. 97.31% of the stock is owned by institutional investors and hedge funds.

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.