Haynes International Inc. (HAYN) Shares Gap Up to $32.42
Shares of 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 analysts recently commented on the company. Zacks Investment Research lowered Haynes International from a “hold” rating to a “sell” rating in a report on Friday, April 22nd. Rosenblatt Securities upgraded Haynes International from a “neutral” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Thursday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $43.67.
The stock has a market cap of $417.86 million and a PE ratio of 36.72. The stock’s 50 day moving average is $30.15 and its 200 day moving average is $32.94.
Haynes International (NASDAQ:HAYN) last announced its earnings results on Thursday, May 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by $0.14. During the same period in the prior year, the company earned $0.94 earnings per share. The firm earned $102.50 million during the quarter, compared to analysts’ expectations of $105.53 million. The business’s quarterly revenue was down 26.1% on a year-over-year basis. Equities research analysts predict that Haynes International Inc. will post $0.48 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.61%. The ex-dividend date was Friday, May 27th.
In related news, VP Jean C. Neel purchased 1,000 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The shares were bought at an average price of $27.99 per share, for a total transaction of $27,990.00. Following the purchase, the vice president now directly owns 9,532 shares of the company’s stock, valued at approximately $266,800.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Comerford purchased 2,500 shares of the business’s stock in a transaction that occurred on 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 purchase, 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 recently bought and sold shares of the company. First Trust Advisors LP increased its stake 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 last quarter. Gamco Investors INC. ET AL increased its stake 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 valued at $4,364,000 after buying an additional 1,500 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in 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 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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