Haynes International Inc. (HAYN) Shares Up 3.6%
Haynes International Inc. (NASDAQ:HAYN) shares shot up 3.6% during mid-day trading on Thursday . The stock traded as high as $38.74 and last traded at $38.43, with a volume of 75,721 shares traded. The stock had previously closed at $37.09.
Several research firms have issued reports on HAYN. Zacks Investment Research downgraded Haynes International from a “hold” rating to a “sell” rating in a 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 for the company in a research report on Thursday, July 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $43.67.
The company’s 50 day moving average is $31.62 and its 200 day moving average is $33.01. The firm has a market capitalization of $475.38 million and a P/E ratio of 41.77.
Haynes International (NASDAQ:HAYN) last posted its earnings results on Thursday, May 5th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.05 by $0.14. The firm had revenue of $102.50 million for the quarter, compared to the consensus estimate of $105.53 million. During the same period in the previous year, the firm posted $0.94 earnings per share. Haynes International’s quarterly revenue was down 26.1% compared to the same quarter last year. On average, equities analysts forecast that Haynes International Inc. will post $0.25 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Friday, May 27th.
In other Haynes International news, VP Jean C. Neel bought 1,000 shares of the firm’s stock in a transaction dated Monday, May 23rd. The stock was bought at an average cost of $27.99 per share, with a total value of $27,990.00. Following the completion of the transaction, the vice president now directly owns 9,532 shares in the company, valued at approximately $266,800.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Comerford bought 2,500 shares of the firm’s stock in a transaction dated Thursday, May 19th. The shares were acquired at an average cost of $26.25 per share, with a total value of $65,625.00. Following the completion of the transaction, the chief executive officer now owns 48,865 shares of the company’s stock, valued at $1,282,706.25. The disclosure for this purchase can be found here.
Several large investors have 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 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 worth $4,364,000 after buying an additional 1,500 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased 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 worth $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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