ValuEngine Downgrades Haynes International (HAYN) to Sell

ValuEngine cut shares of Haynes International (NASDAQ:HAYN) from a hold rating to a sell rating in a report issued on Tuesday morning.

Several other equities analysts have also commented on HAYN. Zacks Investment Research raised Haynes International from a strong sell rating to a hold rating in a research note on Thursday, January 24th. BidaskClub lowered Haynes International from a buy rating to a hold rating in a research note on Thursday, February 14th. Finally, KeyCorp reaffirmed a hold rating on shares of Haynes International in a research note on Friday, November 16th.

Shares of Haynes International stock opened at $31.19 on Tuesday. Haynes International has a 52 week low of $24.46 and a 52 week high of $44.19. The firm has a market capitalization of $391.80 million, a PE ratio of -445.57 and a beta of 1.80. The company has a current ratio of 5.98, a quick ratio of 1.35 and a debt-to-equity ratio of 0.03.



Haynes International (NASDAQ:HAYN) last announced its quarterly earnings results on Thursday, January 31st. The basic materials company reported ($0.13) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.13). Haynes International had a positive return on equity of 0.02% and a negative net margin of 0.18%. The business had revenue of $107.07 million for the quarter, compared to analyst estimates of $104.63 million. Equities analysts forecast that Haynes International will post 1.39 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.82%. Haynes International’s dividend payout ratio is presently -1,257.14%.

Several hedge funds have recently bought and sold shares of HAYN. Northern Trust Corp raised its holdings in shares of Haynes International by 2.3% in the 2nd quarter. Northern Trust Corp now owns 164,485 shares of the basic materials company’s stock valued at $6,044,000 after buying an additional 3,760 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Haynes International in the 3rd quarter valued at $397,000. Victory Capital Management Inc. raised its holdings in shares of Haynes International by 5.0% in the 3rd quarter. Victory Capital Management Inc. now owns 42,700 shares of the basic materials company’s stock valued at $1,516,000 after buying an additional 2,045 shares during the period. Engineers Gate Manager LP purchased a new stake in shares of Haynes International in the 3rd quarter valued at $319,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Haynes International by 3.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 201,069 shares of the basic materials company’s stock valued at $7,138,000 after buying an additional 6,834 shares during the period. Hedge funds and other institutional investors own 99.22% 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, Asia, and internationally. The company offers high-temperature resistant alloys (HTA) and corrosion-resistant alloys (CRA). Its HTA products are used by manufacturers of equipment, including jet engines for the aerospace market; gas turbine engines for power generation and waste incineration; and industrial heating equipment.

Further Reading: Beta

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