Haynes International (NASDAQ:HAYN) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Haynes International (NASDAQ:HAYN) in a report published on Sunday morning. The firm issued a hold rating on the basic materials company’s stock.

HAYN has been the topic of several other research reports. Northcoast Research reissued a neutral rating on shares of Haynes International in a research report on Thursday, March 14th. Noble Financial cut Haynes International from an outperform rating to a market perform rating in a research note on Tuesday, February 6th.

Haynes International Stock Performance

NASDAQ HAYN traded up $0.34 during trading hours on Friday, hitting $59.58. The company’s stock had a trading volume of 222,214 shares, compared to its average volume of 216,548. Haynes International has a 12 month low of $41.15 and a 12 month high of $60.86. The company’s 50 day simple moving average is $60.01 and its two-hundred day simple moving average is $55.00. The company has a market cap of $761.43 million, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 0.74 and a beta of 1.42. The company has a debt-to-equity ratio of 0.26, a current ratio of 7.62 and a quick ratio of 1.69.

Haynes International (NASDAQ:HAYN) last announced its earnings results on Friday, February 9th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.10). Haynes International had a return on equity of 9.89% and a net margin of 6.94%. The firm had revenue of $147.36 million during the quarter, compared to analysts’ expectations of $151.94 million. During the same period in the previous year, the business posted $0.61 earnings per share. As a group, sell-side analysts expect that Haynes International will post 3.83 EPS for the current fiscal year.

Haynes International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.22 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.48%. Haynes International’s payout ratio is currently 26.99%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Covestor Ltd boosted its stake in shares of Haynes International by 484.2% in the third quarter. Covestor Ltd now owns 1,589 shares of the basic materials company’s stock valued at $74,000 after purchasing an additional 1,317 shares during the period. BNP Paribas Financial Markets increased its position in Haynes International by 67.1% in the 1st quarter. BNP Paribas Financial Markets now owns 6,233 shares of the basic materials company’s stock valued at $375,000 after acquiring an additional 2,504 shares during the period. New York State Teachers Retirement System lifted its holdings in shares of Haynes International by 2.4% during the fourth quarter. New York State Teachers Retirement System now owns 26,061 shares of the basic materials company’s stock worth $1,487,000 after purchasing an additional 600 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Haynes International by 352.9% during the fourth quarter. Russell Investments Group Ltd. now owns 27,240 shares of the basic materials company’s stock worth $1,554,000 after acquiring an additional 21,225 shares during the period. Finally, Diamond Hill Capital Management Inc. acquired a new position in Haynes International during the 3rd quarter worth approximately $1,698,000. Institutional investors and hedge funds own 97.31% of the company’s stock.

About Haynes International

Haynes International, Inc develops, manufactures, markets, and distributes nickel and cobalt-based alloys in sheet, coil, and plate forms in the United States, Europe, China, and internationally. The company offers high-temperature resistant alloys used by manufacturers of equipment, including jet engines for the aerospace market, gas turbine engines for power generation, and industrial heating equipment.