Third Avenue Management LLC Invests $4.62 Million in Haynes International, Inc. (HAYN)
Third Avenue Management LLC acquired a new stake in Haynes International, Inc. (NASDAQ:HAYN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 127,187 shares of the basic materials company’s stock, valued at approximately $4,619,000. Third Avenue Management LLC owned approximately 1.03% of Haynes International at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in HAYN. Boston Partners acquired a new stake in shares of Haynes International in the 2nd quarter valued at $4,434,000. Dimensional Fund Advisors LP raised its holdings in shares of Haynes International by 10.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 949,737 shares of the basic materials company’s stock valued at $34,485,000 after purchasing an additional 88,869 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Haynes International by 6.4% in the 1st quarter. Vanguard Group Inc. now owns 1,180,900 shares of the basic materials company’s stock valued at $45,016,000 after purchasing an additional 70,804 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of Haynes International in the 1st quarter valued at $2,212,000. Finally, Brandywine Global Investment Management LLC raised its holdings in shares of Haynes International by 26.4% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 228,487 shares of the basic materials company’s stock valued at $8,297,000 after purchasing an additional 47,670 shares in the last quarter. Institutional investors and hedge funds own 98.64% of the company’s stock.
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Shares of Haynes International, Inc. (NASDAQ:HAYN) traded up 1.76% during midday trading on Friday, reaching $35.91. 71,834 shares of the company traded hands. Haynes International, Inc. has a 12 month low of $28.97 and a 12 month high of $48.37. The company has a 50 day moving average of $30.79 and a 200 day moving average of $35.27. The firm’s market capitalization is $445.28 million.
Haynes International (NASDAQ:HAYN) last announced its earnings results on Thursday, August 3rd. The basic materials company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The firm had revenue of $97.98 million during the quarter, compared to analysts’ expectations of $97.54 million. Haynes International had a negative net margin of 0.84% and a negative return on equity of 1.59%. Haynes International’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 earnings per share. On average, equities research analysts predict that Haynes International, Inc. will post ($0.76) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a $0.22 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.88 annualized dividend and a dividend yield of 2.45%. Haynes International’s dividend payout ratio (DPR) is presently -314.29%.
A number of equities research analysts have recently weighed in on HAYN shares. Zacks Investment Research lowered shares of Haynes International from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 11th. J P Morgan Chase & Co restated a “neutral” rating and issued a $26.00 price objective (down from $33.50) on shares of Haynes International in a report on Saturday, July 22nd. Finally, ValuEngine lowered shares of Haynes International from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $36.50.
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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