Haynes International Inc. (HAYN) Trading Down 6.7%
Shares of Haynes International Inc. (NASDAQ:HAYN) dropped 6.7% during mid-day trading on Tuesday . The company traded as low as $38.06 and last traded at $38.51, with a volume of 52,056 shares. The stock had previously closed at $41.27.
HAYN has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Haynes International from a “hold” rating to a “sell” rating in a report on Friday, April 22nd. Rosenblatt Securities raised shares of 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, July 7th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Haynes International in a report on Friday.
The stock’s 50-day moving average is $35.67 and its 200-day moving average is $33.64. The company has a market cap of $474.51 million and a price-to-earnings ratio of 62.58.
Haynes International (NASDAQ:HAYN) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.17. The company had revenue of $101.30 million for the quarter, compared to analyst estimates of $103.52 million. The firm’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.62 EPS. On average, analysts predict that Haynes International Inc. will post $0.44 EPS for the current year.
In related news, CEO Mark Comerford acquired 2,500 shares of the business’s stock in a transaction on Thursday, May 19th. The shares were bought at an average price of $26.25 per share, with a total value of $65,625.00. Following the completion of the acquisition, the chief executive officer now owns 48,865 shares in the company, valued at $1,282,706.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jean C. Neel acquired 1,000 shares of the business’s stock in a transaction on Monday, May 23rd. The shares were bought at an average cost of $27.99 per share, for a total transaction of $27,990.00. Following the acquisition, the vice president now owns 9,532 shares of the company’s stock, valued at approximately $266,800.68. The disclosure for this purchase can be found here.
Several institutional investors have made changes to their positions in the stock. First Trust Advisors LP boosted its position 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 worth $2,199,000 after buying an additional 27,186 shares during the last quarter. BlackRock Advisors LLC boosted its position in shares of Haynes International by 6.8% in the fourth quarter. BlackRock Advisors LLC now owns 371,018 shares of the company’s stock worth $13,613,000 after buying an additional 23,664 shares during the last quarter. Finally, Argent Capital Management LLC boosted its position in shares of Haynes International by 0.5% in the fourth quarter. Argent Capital Management LLC now owns 34,275 shares of the company’s stock worth $1,258,000 after buying an additional 175 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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