Haynes International Inc. (HAYN) Shares Gap Up to $32.42
Haynes International Inc. (NASDAQ:HAYN) gapped up before the market opened on Thursday . The stock had previously closed at $32.28, but opened at $32.42. Haynes International shares last traded at $33.97, with a volume of 44,412 shares traded.
A number of research firms have recently weighed in on HAYN. Zacks Investment Research upgraded shares of Haynes International from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 22nd. Rosenblatt Securities upgraded shares of Haynes International from a “neutral” rating to a “buy” rating and set a $37.00 price target for the company in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $43.67.
The company’s 50-day moving average is $30.44 and its 200 day moving average is $32.95. The stock has a market capitalization of $448.04 million and a price-to-earnings ratio of 39.37.
Haynes International (NASDAQ:HAYN) last posted its quarterly earnings data on Thursday, May 5th. The company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.14. The business had revenue of $102.50 million for the quarter, compared to analysts’ expectations of $105.53 million. During the same period last year, the business posted $0.94 EPS. The business’s revenue was down 26.1% on a year-over-year basis. Analysts anticipate that Haynes International Inc. will post $0.48 EPS for the current year.
The company also recently disclosed 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, CEO Mark Comerford acquired 2,500 shares of the firm’s stock in a transaction on Thursday, May 19th. The stock was purchased at an average price of $26.25 per share, for a total transaction of $65,625.00. Following the purchase, the chief executive officer now owns 48,865 shares in the company, valued at approximately $1,282,706.25. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Jean C. Neel acquired 1,000 shares of the firm’s stock in a transaction on Monday, May 23rd. The stock was purchased at an average price of $27.99 per share, with a total value of $27,990.00. Following the purchase, the vice president now owns 9,532 shares in the company, valued at approximately $266,800.68. The disclosure for this purchase can be found here.
Several hedge funds and institutional investors recently added to or reduced their stakes in HAYN. Dimensional Fund Advisors LP increased its position in Haynes International by 10.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 553,482 shares of the company’s stock worth $20,308,000 after buying an additional 51,926 shares in the last quarter. First Trust Advisors LP increased its position in Haynes International by 83.0% in the fourth quarter. First Trust Advisors LP now owns 59,922 shares of the company’s stock worth $2,199,000 after buying an additional 27,186 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its position in Haynes International by 1.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 118,938 shares of the company’s stock worth $4,364,000 after buying an additional 1,500 shares in the last quarter.
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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