Alliancebernstein L.P. Has $485,000 Stake in Haynes International, Inc. (HAYN)
Alliancebernstein L.P. reduced its position in Haynes International, Inc. (NASDAQ:HAYN) by 16.4% during the first quarter, Holdings Channel reports. The institutional investor owned 12,733 shares of the basic materials company’s stock after selling 2,500 shares during the period. Alliancebernstein L.P.’s holdings in Haynes International were worth $485,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the company. Mason Street Advisors LLC boosted its stake in shares of Haynes International by 7.1% in the first quarter. Mason Street Advisors LLC now owns 2,925 shares of the basic materials company’s stock worth $112,000 after buying an additional 195 shares in the last quarter. Karp Capital Management Corp bought a new stake in shares of Haynes International during the first quarter worth $229,000. Arizona State Retirement System boosted its stake in shares of Haynes International by 1.5% in the first quarter. Arizona State Retirement System now owns 6,565 shares of the basic materials company’s stock worth $250,000 after buying an additional 100 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in shares of Haynes International during the fourth quarter worth $321,000. Finally, Nationwide Fund Advisors boosted its stake in shares of Haynes International by 1.4% in the first quarter. Nationwide Fund Advisors now owns 10,130 shares of the basic materials company’s stock worth $386,000 after buying an additional 137 shares in the last quarter. 98.41% of the stock is owned by institutional investors.
Haynes International, Inc. (HAYN) opened at 30.12 on Thursday. Haynes International, Inc. has a 1-year low of $29.75 and a 1-year high of $48.37. The stock has a 50 day moving average price of $33.82 and a 200-day moving average price of $37.40. The company’s market capitalization is $373.49 million.
Haynes International (NASDAQ:HAYN) last issued its earnings results on Thursday, August 3rd. The basic materials company reported ($0.32) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by $0.02. Haynes International had a negative net margin of 4.05% and a negative return on equity of 5.19%. The firm had revenue of $97.98 million during the quarter, compared to analyst estimates of $97.54 million. During the same quarter last year, the business posted $0.22 earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities analysts predict that Haynes International, Inc. will post ($0.29) earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.22 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.88 annualized dividend and a yield of 2.92%. Haynes International’s dividend payout ratio (DPR) is currently -314.29%.
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HAYN has been the subject of a number of analyst reports. Longbow Research raised Haynes International from a “neutral” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Monday, May 15th. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $26.00 price target (down previously from $33.50) on shares of Haynes International in a research report on Saturday, July 22nd. Finally, Zacks Investment Research cut Haynes International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $37.33.
About Haynes International
Haynes International, Inc (Haynes) is a producer of nickel- and cobalt-based alloys in flat product forms, such as sheet, coil and plate forms. The Company also produces its products as seamless and welded tubulars, and in slab, bar, billet and wire forms. It focuses on developing, manufacturing, marketing and distributing alloys, which are sold in the aerospace, chemical processing and industrial gas turbine industries.
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