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

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

Haynes International Trading Down 0.1 %

Shares of NASDAQ HAYN opened at $59.52 on Friday. The company has a quick ratio of 1.89, a current ratio of 7.74 and a debt-to-equity ratio of 0.22. Haynes International has a 12 month low of $41.15 and a 12 month high of $60.86. The company has a market cap of $760.84 million, a price-to-earnings ratio of 20.11, a P/E/G ratio of 1.10 and a beta of 1.39. The business has a fifty day simple moving average of $59.57 and a 200-day simple moving average of $59.46.

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

Haynes International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.48%. The ex-dividend date was Friday, August 30th. Haynes International’s payout ratio is 29.73%.

Insiders Place Their Bets

In related news, CFO Daniel W. Maudlin sold 6,744 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $1,806,922.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.10% of the company’s stock.

Institutional Trading of Haynes International

Several institutional investors have recently modified their holdings of HAYN. SG Americas Securities LLC bought a new stake in shares of Haynes International in the 1st quarter valued at approximately $114,000. BNP Paribas Financial Markets grew its position in 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 during the period. Cornercap Investment Counsel Inc. acquired a new position in Haynes International during the second quarter worth $526,000. Nisa Investment Advisors LLC lifted its holdings in shares of Haynes International by 71,414.3% during the second quarter. Nisa Investment Advisors LLC now owns 25,030 shares of the basic materials company’s stock valued at $1,469,000 after acquiring an additional 24,995 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Haynes International by 16.9% in 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. 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.