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

StockNews.com initiated coverage on shares of Haynes International (NASDAQ:HAYNFree Report) in a research note issued to investors on Wednesday. The firm issued a hold rating on the basic materials company’s stock.

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

Check Out Our Latest Report on HAYN

Haynes International Stock Performance

NASDAQ HAYN opened at $58.82 on Wednesday. The company has a 50-day simple moving average of $59.81 and a two-hundred day simple moving average of $56.96. The company has a quick ratio of 1.75, a current ratio of 7.63 and a debt-to-equity ratio of 0.25. Haynes International has a 12-month low of $41.15 and a 12-month high of $60.86. The firm has a market cap of $751.90 million, a price-to-earnings ratio of 19.87, a PEG ratio of 0.86 and a beta of 1.42.

Haynes International (NASDAQ:HAYNGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.20). Haynes International had a net margin of 6.31% and a return on equity of 8.79%. The business had revenue of $152.46 million for the quarter, compared to analysts’ expectations of $160.52 million. On average, equities analysts forecast that Haynes International will post 3.27 EPS for the current year.

Haynes International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, May 31st. Haynes International’s dividend payout ratio is 29.73%.

Hedge Funds Weigh In On Haynes International

A number of institutional investors and hedge funds have recently made changes to their positions in HAYN. Gabelli Funds LLC bought a new position in shares of Haynes International during the first quarter valued at approximately $8,325,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in shares of Haynes International during the first quarter valued at approximately $7,070,000. Russell Investments Group Ltd. increased its position in shares of Haynes International by 352.9% during the fourth quarter. Russell Investments Group Ltd. now owns 27,240 shares of the basic materials company’s stock valued at $1,554,000 after acquiring an additional 21,225 shares in the last quarter. Foundry Partners LLC increased its position in shares of Haynes International by 10.1% during the third quarter. Foundry Partners LLC now owns 102,925 shares of the basic materials company’s stock valued at $4,788,000 after acquiring an additional 9,435 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Haynes International by 67.1% during 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. Institutional investors own 97.31% of the company’s stock.

About Haynes International

(Get Free Report)

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.

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