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 issued on Friday. The firm issued a hold rating on the basic materials company’s stock.

Several other brokerages have also weighed in on HAYN. Noble Financial lowered shares of Haynes International from an outperform rating to a market perform rating in a research report on Tuesday, February 6th. Northcoast Research reaffirmed a neutral rating on shares of Haynes International in a research report on Thursday, March 14th.

Haynes International Stock Performance

HAYN stock opened at $60.25 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.69 and a current ratio of 7.62. The stock has a market cap of $770.00 million, a P/E ratio of 18.48, a P/E/G ratio of 0.75 and a beta of 1.43. The firm has a 50 day simple moving average of $59.91 and a 200 day simple moving average of $53.82. Haynes International has a 52 week low of $41.15 and a 52 week high of $60.86.

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

Haynes International Announces Dividend

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

Hedge Funds Weigh In On Haynes International

Institutional investors have recently modified their holdings of the company. Diamond Hill Capital Management Inc. bought a new position in shares of Haynes International in the third quarter valued at approximately $1,698,000. Covestor Ltd raised its position 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 purchasing an additional 1,317 shares during the period. Foundry Partners LLC raised its position in shares of Haynes International by 10.1% in the third quarter. Foundry Partners LLC now owns 102,925 shares of the basic materials company’s stock valued at $4,788,000 after purchasing an additional 9,435 shares during the period. New York State Teachers Retirement System raised its position in shares of Haynes International by 2.4% in the fourth quarter. New York State Teachers Retirement System now owns 26,061 shares of the basic materials company’s stock valued at $1,487,000 after purchasing an additional 600 shares during the period. Finally, Wellington Management Group LLP bought a new position in shares of Haynes International in the first quarter valued at approximately $3,889,000. Institutional investors 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.