Haynes International (NASDAQ:HAYN) Earns Hold Rating from Analysts at StockNews.com

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

Haynes International Price Performance

Shares of NASDAQ:HAYN opened at $59.78 on Wednesday. Haynes International has a fifty-two week low of $41.15 and a fifty-two week high of $60.86. The business has a 50-day moving average of $58.87 and a two-hundred day moving average of $58.74. The stock has a market capitalization of $764.17 million, a P/E ratio of 20.20, a P/E/G ratio of 0.94 and a beta of 1.40. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.63 and a quick ratio of 1.75.

Haynes International (NASDAQ:HAYN) last announced its quarterly earnings results on Thursday, May 9th. The basic materials company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.20). Haynes International had a return on equity of 8.79% and a net margin of 6.31%. The company had revenue of $152.46 million during the quarter, compared to analyst estimates of $160.52 million. On average, equities research analysts predict that Haynes International will post 3.02 EPS for the current fiscal year.

Haynes International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.47%. Haynes International’s payout ratio is presently 29.73%.

Hedge Funds Weigh In On Haynes International

A number of institutional investors have recently made changes to their positions in the business. New York State Teachers Retirement System increased its stake 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 worth $1,487,000 after purchasing an additional 600 shares during the period. SG Americas Securities LLC bought a new position in Haynes International during the first quarter valued at about $114,000. BNP Paribas Financial Markets increased its stake in 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 during the period. Bank of New York Mellon Corp increased its stake in Haynes International by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 160,923 shares of the basic materials company’s stock valued at $9,446,000 after acquiring an additional 4,153 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Haynes International by 16.9% during 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 acquiring an additional 4,605 shares during the period. 97.31% of the stock is currently owned by institutional investors.

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.