According to Zacks, “Haynes International, Inc. is a technology-oriented company devoted primarily to the development and manufacture of high-performance nickel- and cobalt-based alloys for service in severe corrosion and high-temperature applications. Superior customer service and technical support are provided worldwide by well-trained professionals within the company. Haynes’ service centers and affiliates have available in-stock sheet, plate, bar, wire, tubing, forging stock, fittings, and flanges. “
Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. restated a buy rating on shares of Haynes International in a research note on Friday, August 5th. Rosenblatt Securities upgraded shares of Haynes International from a neutral rating to a buy rating and set a $37.00 target price on the stock in a research note on Thursday, July 7th.
Haynes International (NASDAQ:HAYN) opened at 36.12 on Wednesday. Haynes International has a 52-week low of $25.53 and a 52-week high of $43.07. The stock has a 50 day moving average of $36.95 and a 200-day moving average of $35.13. The company has a market capitalization of $446.80 million, a price-to-earnings ratio of 58.92 and a beta of 1.80.
Haynes International (NASDAQ:HAYN) last posted its earnings results on Thursday, August 4th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.17. The business had revenue of $101.30 million for the quarter, compared to analysts’ expectations of $103.52 million. Haynes International had a net margin of 1.84% and a return on equity of 1.99%. The business’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.62 EPS. On average, equities research analysts anticipate that Haynes International will post $0.45 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Tuesday, August 30th. Haynes International’s payout ratio is currently 144.26%.
Several large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its stake in Haynes International by 22.1% in the first quarter. Legal & General Group Plc now owns 3,005 shares of the company’s stock valued at $113,000 after buying an additional 543 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Haynes International by 120.5% in the second quarter. BNP Paribas Arbitrage SA now owns 4,573 shares of the company’s stock valued at $147,000 after buying an additional 2,499 shares during the last quarter. Royal Bank of Canada raised its stake in Haynes International by 2,243.9% in the first quarter. Royal Bank of Canada now owns 5,602 shares of the company’s stock valued at $204,000 after buying an additional 5,363 shares during the last quarter. Arizona State Retirement System raised its stake in Haynes International by 1.6% in the second quarter. Arizona State Retirement System now owns 6,465 shares of the company’s stock valued at $207,000 after buying an additional 100 shares during the last quarter. Finally, Deere & Co. acquired a new stake in Haynes International during the second quarter valued at approximately $297,000.
About Haynes International
Haynes International, Inc produces nickel- and cobalt-based alloys in flat product forms, such as sheet, coil and plate forms. The Company operates through the segment of design, manufacture, marketing and distribution of technologically advanced, high-performance alloys for use in the aerospace, land-based gas turbine, chemical processing and other industries.
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