Haynes International Inc. (HAYN) Trading 7% Higher
Haynes International Inc. (NASDAQ:HAYN) shares traded up 7% during mid-day trading on Friday . The company traded as high as $36.77 and last traded at $36.13, with a volume of 65,077 shares trading hands. The stock had previously closed at $33.78.
A number of research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Haynes International from a “hold” rating to a “sell” rating in a research report on Friday, April 22nd. Rosenblatt Securities upgraded shares of Haynes International from a “neutral” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Thursday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $43.67.
The stock has a 50-day moving average of $30.44 and a 200 day moving average of $32.95. The stock has a market cap of $448.04 million and a PE ratio of 39.37.
Haynes International (NASDAQ:HAYN) last posted its quarterly earnings results on Thursday, May 5th. The company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.14. The business earned $102.50 million during the quarter, compared to analyst estimates of $105.53 million. During the same period last year, the firm earned $0.94 EPS. Haynes International’s revenue for the quarter was down 26.1% compared to the same quarter last year. On average, equities analysts forecast that Haynes International Inc. will post $0.48 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, May 27th. This represents a $0.88 annualized dividend and a yield of 2.43%.
In other news, VP Jean C. Neel acquired 1,000 shares of the firm’s stock in a transaction dated Monday, May 23rd. The shares were acquired at an average cost of $27.99 per share, with a total value of $27,990.00. Following the acquisition, the vice president now directly owns 9,532 shares of the company’s stock, valued at $266,800.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Mark Comerford acquired 2,500 shares of the firm’s stock in a transaction dated Thursday, May 19th. The shares were purchased at an average cost of $26.25 per share, for a total transaction of $65,625.00. Following the completion of the acquisition, the chief executive officer now directly owns 48,865 shares in the company, valued at $1,282,706.25. The disclosure for this purchase can be found here.
Several hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Haynes International by 10.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 553,482 shares of the company’s stock valued at $20,308,000 after buying an additional 51,926 shares during the period. First Trust Advisors LP boosted its stake in shares of Haynes International by 83.0% in the fourth quarter. First Trust Advisors LP now owns 59,922 shares of the company’s stock valued at $2,199,000 after buying an additional 27,186 shares during the period. Finally, Gamco Investors INC. ET AL boosted its stake in shares of Haynes International by 1.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 118,938 shares of the company’s stock valued at $4,364,000 after buying an additional 1,500 shares during the period.
Haynes International, Inc produces nickel- and cobalt-based alloys in flat product forms, such as sheet, coil and plate forms. The Company operates through the segment of design, manufacture, marketing and distribution of technologically advanced, high-performance alloys for use in the aerospace, land-based gas turbine, chemical processing and other industries.
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