Haynes International, Inc. (NASDAQ:HAYN) shares hit a new 52-week low during trading on Friday . The company traded as low as $29.51 and last traded at $29.49, with a volume of 64,241 shares traded. The stock had previously closed at $29.87.

A number of research analysts recently commented on the company. Zacks Investment Research downgraded Haynes International from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 18th. Longbow Research upgraded Haynes International from a “neutral” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Monday, May 15th. Finally, J P Morgan Chase & Co restated a “neutral” rating and set a $26.00 price objective (down from $33.50) on shares of Haynes International in a research note on Saturday, July 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $37.33.

The company’s market capitalization is $365.43 million. The company has a 50-day moving average price of $33.68 and a 200 day moving average price of $37.35.

Haynes International (NASDAQ:HAYN) last posted its earnings results on Thursday, August 3rd. The basic materials company reported ($0.32) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by $0.02. The company had revenue of $97.98 million for the quarter, compared to the consensus estimate of $97.54 million. Haynes International had a negative return on equity of 1.59% and a negative net margin of 0.84%. Haynes International’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.22 EPS. Analysts anticipate that Haynes International, Inc. will post ($0.18) earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.88 annualized dividend and a dividend yield of 2.94%. Haynes International’s dividend payout ratio (DPR) is presently -314.29%.

A number of institutional investors have recently modified their holdings of the stock. Municipal Employees Retirement System of Michigan increased its position in shares of Haynes International by 4.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 2,950 shares of the basic materials company’s stock valued at $107,000 after buying an additional 130 shares during the last quarter. Mason Street Advisors LLC increased its position 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 valued at $112,000 after buying an additional 195 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Haynes International during the second quarter valued at about $140,000. BNP Paribas Arbitrage SA increased its position in shares of Haynes International by 50.2% in the second quarter. BNP Paribas Arbitrage SA now owns 4,098 shares of the basic materials company’s stock valued at $149,000 after buying an additional 1,370 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new position in shares of Haynes International during the first quarter valued at about $229,000. Hedge funds and other institutional investors own 98.41% of the company’s stock.

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Haynes International Company Profile

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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