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

Stock analysts at StockNews.com assumed coverage on shares of Haynes International (NASDAQ:HAYN) in a report released on Wednesday. The firm set a “hold” rating on the basic materials company’s stock.

Haynes International Stock Up 0.8 %

NASDAQ HAYN opened at $58.96 on Wednesday. The stock has a fifty day moving average of $59.61 and a 200-day moving average of $59.48. The stock has a market capitalization of $753.69 million, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 1.11 and a beta of 1.40. Haynes International has a 52 week low of $41.15 and a 52 week high of $60.86. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.89 and a current ratio of 7.74.

Haynes International (NASDAQ:HAYN) last posted its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.33). Haynes International had a return on equity of 8.45% and a net margin of 6.11%. The company had revenue of $153.92 million during the quarter, compared to the consensus estimate of $159.35 million. On average, equities research analysts forecast that Haynes International will post 2.55 EPS for the current year.

Insider Activity

In other news, CFO Daniel W. Maudlin sold 6,744 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $59.66, for a total value of $402,347.04. Following the sale, the chief financial officer now directly owns 30,287 shares in the company, valued at $1,806,922.42. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of Haynes International

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