Haynes International (NASDAQ:HAYN) Receives New Coverage from Analysts at StockNews.com

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

Haynes International Stock Down 0.0 %

Shares of HAYN opened at $59.91 on Friday. The firm has a market cap of $765.83 million, a P/E ratio of 20.24, a price-to-earnings-growth ratio of 0.94 and a beta of 1.40. 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 52 week low of $41.15 and a 52 week high of $60.86. The firm’s 50-day simple moving average is $59.15 and its 200 day simple moving average is $59.48.

Haynes International (NASDAQ:HAYN) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.33). The firm had revenue of $153.92 million for the quarter, compared to the consensus estimate of $159.35 million. Haynes International had a return on equity of 8.51% and a net margin of 6.11%. On average, analysts forecast that Haynes International will post 3.02 earnings per share 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 given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.47%. The ex-dividend date is Friday, August 30th. Haynes International’s payout ratio is 29.73%.

Institutional Investors Weigh In On Haynes International

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Gabelli Funds LLC increased its position in Haynes International by 29.5% during the second quarter. Gabelli Funds LLC now owns 179,371 shares of the basic materials company’s stock worth $10,529,000 after acquiring an additional 40,904 shares during the period. Bank of New York Mellon Corp grew its position in shares of Haynes International by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 160,923 shares of the basic materials company’s stock worth $9,446,000 after purchasing an additional 4,153 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in shares of Haynes International during the first quarter worth approximately $7,070,000. Rhumbline Advisers raised its position in shares of Haynes International by 3.2% in the second quarter. Rhumbline Advisers now owns 39,983 shares of the basic materials company’s stock valued at $2,347,000 after buying an additional 1,245 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Haynes International by 16.9% in the first quarter. Russell Investments Group Ltd. now owns 31,845 shares of the basic materials company’s stock valued at $1,915,000 after buying an additional 4,605 shares during the period. 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.