Haynes International (NASDAQ:HAYN) Now Covered by Analysts at StockNews.com

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

A number of other equities analysts have also recently commented on the stock. Noble Financial cut shares of Haynes International from an outperform rating to a market perform rating in a research note on Tuesday, February 6th. Northcoast Research reissued a neutral rating on shares of Haynes International in a research note on Thursday, March 14th.

Haynes International Stock Performance

Shares of HAYN stock traded up $0.34 during mid-day trading on Friday, reaching $59.58. 222,214 shares of the company’s stock traded hands, 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 firm has a 50 day moving average price of $60.01 and a two-hundred day moving average price of $55.00. The firm has a market capitalization of $761.43 million, a PE 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 quick ratio of 1.69 and a current ratio of 7.62.

Haynes International (NASDAQ:HAYN) last issued its quarterly earnings results on Friday, February 9th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.10). Haynes International had a return on equity of 9.89% and a net margin of 6.94%. The business had revenue of $147.36 million during the quarter, compared to analysts’ expectations of $151.94 million. During the same quarter in the previous year, the company posted $0.61 EPS. On average, research analysts forecast that Haynes International will post 3.83 EPS for the current year.

Haynes International Announces Dividend

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

Hedge Funds Weigh In On Haynes International

Several hedge funds have recently modified their holdings of the stock. Diamond Hill Capital Management Inc. acquired a new position in shares of Haynes International in the third quarter valued at about $1,698,000. Russell Investments Group Ltd. increased its holdings in Haynes International by 352.9% in the 4th quarter. Russell Investments Group Ltd. now owns 27,240 shares of the basic materials company’s stock worth $1,554,000 after buying an additional 21,225 shares during the period. Foundry Partners LLC lifted its stake in Haynes International by 10.1% during the 3rd quarter. Foundry Partners LLC now owns 102,925 shares of the basic materials company’s stock valued at $4,788,000 after acquiring an additional 9,435 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of 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 last quarter. Finally, Covestor Ltd increased 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 worth $74,000 after acquiring an additional 1,317 shares during the period. 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.