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

Analysts at StockNews.com began coverage on shares of Haynes International (NASDAQ:HAYN) in a note issued to investors on Friday. The brokerage set a “hold” rating on the basic materials company’s stock.

Haynes International Trading Up 0.1 %

NASDAQ:HAYN opened at $59.55 on Friday. Haynes International has a 52-week low of $41.15 and a 52-week high of $60.86. The company has a quick ratio of 1.89, a current ratio of 7.74 and a debt-to-equity ratio of 0.22. The stock has a fifty day simple moving average of $59.57 and a 200-day simple moving average of $59.47. The company has a market capitalization of $761.23 million, a PE ratio of 20.12, a price-to-earnings-growth ratio of 1.10 and a beta of 1.39.

Haynes International (NASDAQ:HAYN) last posted its earnings results on Thursday, August 1st. The basic materials company reported $0.63 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $159.35 million. On average, equities research analysts expect that Haynes International will post 2.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Daniel W. Maudlin sold 6,744 shares of the business’s stock in a transaction 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 $1,806,922.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Haynes International

Institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets grew its stake in Haynes International by 67.1% in the 1st quarter. BNP Paribas Financial Markets now owns 6,233 shares of the basic materials company’s stock worth $375,000 after acquiring an additional 2,504 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Haynes International in the first quarter valued at $114,000. Russell Investments Group Ltd. grew its position in shares of Haynes International by 16.9% in the first 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 during the period. Gabelli Funds LLC acquired a new position in Haynes International in the first quarter valued at $8,325,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in Haynes International during the first quarter worth about $7,070,000. Institutional investors and hedge funds 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.