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

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

Separately, Northcoast Research restated a neutral rating on shares of Haynes International in a research note on Thursday, March 14th.

Haynes International Price Performance

NASDAQ HAYN opened at $58.86 on Friday. The company has a 50 day moving average price of $58.97 and a two-hundred day moving average price of $58.38. The company has a quick ratio of 1.75, a current ratio of 7.63 and a debt-to-equity ratio of 0.25. Haynes International has a 12-month low of $41.15 and a 12-month high of $60.86. The stock has a market capitalization of $752.23 million, a PE ratio of 19.89, a price-to-earnings-growth ratio of 0.91 and a beta of 1.40.

Haynes International (NASDAQ:HAYN) last issued its quarterly earnings data on Thursday, May 9th. The basic materials company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.20). Haynes International had a return on equity of 8.79% and a net margin of 6.31%. The firm had revenue of $152.46 million during the quarter, compared to analyst estimates of $160.52 million. As a group, equities analysts predict that Haynes International will post 3.02 earnings per share for the current fiscal year.

Haynes International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Friday, May 31st. Haynes International’s dividend payout ratio (DPR) is currently 29.73%.

Hedge Funds Weigh In On Haynes International

A number of institutional investors and hedge funds have recently bought and sold shares of HAYN. SG Americas Securities LLC bought a new position in Haynes International during the first quarter worth $114,000. BNP Paribas Financial Markets increased its position in Haynes International by 67.1% during the first quarter. BNP Paribas Financial Markets now owns 6,233 shares of the basic materials company’s stock worth $375,000 after acquiring an additional 2,504 shares during the period. New York State Teachers Retirement System increased its position in 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 acquiring an additional 600 shares during the period. Russell Investments Group Ltd. increased its position in 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, GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in Haynes International during the first quarter worth $7,070,000. Institutional investors 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.