Haynes International Inc. (HAYN) Trading 4.7% Higher
Haynes International Inc. (NASDAQ:HAYN) shares traded up 4.7% on Monday . The company traded as high as $40.58 and last traded at $39.60, with a volume of 53,408 shares changing hands. The stock had previously closed at $37.83.
A number of research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Haynes International from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 12th. 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 report on Thursday, July 7th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Haynes International in a report on Friday, August 5th.
The stock has a market cap of $493.44 million and a PE ratio of 65.07. The company has a 50-day moving average of $36.34 and a 200 day moving average of $33.78.
Haynes International (NASDAQ:HAYN) last issued its earnings results on Thursday, August 4th. The company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.17. The firm earned $101.30 million during the quarter, compared to the consensus estimate of $103.52 million. During the same period in the previous year, the company posted $0.62 EPS. The firm’s revenue for the quarter was down 16.5% on a year-over-year basis. Analysts expect that Haynes International Inc. will post $0.44 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Tuesday, August 30th.
In related news, CEO Mark Comerford purchased 2,500 shares of Haynes International stock in a transaction dated Thursday, May 19th. The stock was bought at an average price 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 of the company’s stock, valued at $1,282,706.25. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Jean C. Neel purchased 1,000 shares of Haynes International stock in a transaction dated Monday, May 23rd. The stock was bought at an average price 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 disclosure for this purchase can be found here.
Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Argent Capital Management LLC boosted its position in Haynes International by 0.5% in the fourth quarter. Argent Capital Management LLC now owns 34,275 shares of the company’s stock valued at $1,258,000 after buying an additional 175 shares during the period. BlackRock Advisors LLC boosted its position in Haynes International by 6.8% in the fourth quarter. BlackRock Advisors LLC now owns 371,018 shares of the company’s stock valued at $13,613,000 after buying an additional 23,664 shares during the period. Finally, First Trust Advisors LP boosted 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 valued at $2,199,000 after buying an additional 27,186 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.