Haynes International (NASDAQ:HAYN) Earns Hold Rating from Analysts at StockNews.com

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

Haynes International Stock Performance

Shares of HAYN opened at $59.95 on Friday. The stock has a market cap of $766.34 million, a P/E ratio of 20.25, a P/E/G ratio of 0.94 and a beta of 1.40. The stock has a 50-day moving average of $59.04 and a two-hundred day moving average of $59.32. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.75 and a current ratio of 7.63. Haynes International has a one year low of $41.15 and a one year high of $60.86.

Haynes International (NASDAQ:HAYN) last issued its earnings results on Thursday, August 1st. The basic materials company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.33). Haynes International had a return on equity of 8.51% and a net margin of 6.11%. The company had revenue of $153.92 million for the quarter, compared to analyst estimates of $159.35 million. As a group, research analysts predict that Haynes International will post 3.02 EPS for the current year.

Haynes International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, August 30th. Haynes International’s payout ratio is 29.73%.

Institutional Investors Weigh In On Haynes International

A number of hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in Haynes International in the 1st quarter worth approximately $114,000. BNP Paribas Financial Markets increased its stake in Haynes International by 67.1% during the 1st quarter. BNP Paribas Financial Markets now owns 6,233 shares of the basic materials company’s stock worth $375,000 after buying an additional 2,504 shares during the period. Cornercap Investment Counsel Inc. purchased a new stake in Haynes International during the 2nd quarter worth $526,000. Nisa Investment Advisors LLC increased its position in shares of Haynes International by 71,414.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 25,030 shares of the basic materials company’s stock worth $1,469,000 after purchasing an additional 24,995 shares during the last quarter. Finally, New York State Teachers Retirement System increased its position in shares of Haynes International by 2.4% in the 4th 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 last quarter. Institutional investors and hedge funds own 97.31% of the company’s stock.

Haynes International Company Profile

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.