Russell Investments Group Ltd. Lowers Stake in Haynes International, Inc. (NASDAQ:HAYN)

Russell Investments Group Ltd. reduced its holdings in shares of Haynes International, Inc. (NASDAQ:HAYN) by 24.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,759 shares of the basic materials company’s stock after selling 14,069 shares during the period. Russell Investments Group Ltd. owned 0.34% of Haynes International worth $1,546,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. lifted its position in Haynes International by 7.7% during the 1st quarter. BlackRock Inc. now owns 2,118,905 shares of the basic materials company’s stock valued at $62,868,000 after acquiring an additional 152,239 shares during the period. Royce & Associates LP raised its holdings in Haynes International by 43.7% in the first quarter. Royce & Associates LP now owns 1,016,146 shares of the basic materials company’s stock worth $30,149,000 after buying an additional 309,238 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Haynes International by 4.6% in the first quarter. Renaissance Technologies LLC now owns 585,846 shares of the basic materials company’s stock worth $17,382,000 after buying an additional 25,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Haynes International by 261.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 259,947 shares of the basic materials company’s stock worth $7,713,000 after buying an additional 188,077 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Haynes International by 7.0% in the first quarter. Geode Capital Management LLC now owns 199,451 shares of the basic materials company’s stock worth $5,917,000 after buying an additional 12,977 shares during the last quarter. 95.98% of the stock is owned by institutional investors.

Shares of NASDAQ HAYN opened at $36.57 on Friday. The firm has a 50 day moving average of $37.39 and a 200 day moving average of $34.04. The company has a current ratio of 6.41, a quick ratio of 2.33 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $464.04 million, a price-to-earnings ratio of -26.69 and a beta of 1.47. Haynes International, Inc. has a 12-month low of $15.29 and a 12-month high of $40.82.

Haynes International (NASDAQ:HAYN) last announced its earnings results on Thursday, July 29th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.13. The company had revenue of $88.14 million during the quarter, compared to analyst estimates of $87.01 million. Haynes International had a negative net margin of 5.26% and a negative return on equity of 5.71%. Sell-side analysts predict that Haynes International, Inc. will post -0.77 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Wednesday, September 1st were given a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, August 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.41%. Haynes International’s payout ratio is currently -166.04%.

Separately, Zacks Investment Research raised shares of Haynes International from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Tuesday, June 22nd.

About Haynes International

Haynes International, Inc engages in the development, manufacture, and marketing of nickel-and cobalt-based alloys used in corrosion and high-temperature applications. It supports a range of industries such as aerospace, chemical processing, and industrial gas turbine. The company was founded by Elwood P.

Featured Article: What is meant by buying and selling pressure?

Want to see what other hedge funds are holding HAYN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Haynes International, Inc. (NASDAQ:HAYN).

Institutional Ownership by Quarter for Haynes International (NASDAQ:HAYN)

Receive News & Ratings for Haynes International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Haynes International and related companies with MarketBeat.com's FREE daily email newsletter.