Haynes International, Inc. (NASDAQ:HAYN) – Analysts at KeyCorp raised their FY2019 earnings per share (EPS) estimates for Haynes International in a research report issued to clients and investors on Thursday, according to Zacks Investment Research. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will post earnings per share of $1.90 for the year, up from their previous forecast of $1.75. KeyCorp has a “Hold” rating on the stock.
Haynes International (NASDAQ:HAYN) last released its earnings results on Thursday, February 1st. The basic materials company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.10. Haynes International had a negative return on equity of 3.76% and a negative net margin of 8.18%. The business had revenue of $89.70 million during the quarter, compared to the consensus estimate of $94.95 million. During the same period last year, the company earned ($0.06) earnings per share. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year.
HAYN has been the subject of several other reports. BidaskClub upgraded Haynes International from a “sell” rating to a “hold” rating in a research report on Thursday, December 21st. Zacks Investment Research upgraded Haynes International from a “sell” rating to a “hold” rating and set a $42.00 target price for the company in a research report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. upgraded Haynes International from a “neutral” rating to an “overweight” rating in a research report on Monday, February 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Haynes International currently has an average rating of “Hold” and an average price target of $41.00.
Haynes International (HAYN) traded down $0.70 during trading hours on Monday, hitting $43.59. The stock had a trading volume of 76,501 shares, compared to its average volume of 99,171. Haynes International has a fifty-two week low of $28.97 and a fifty-two week high of $45.14. The company has a market capitalization of $554.78, a P/E ratio of -17.10 and a beta of 1.34. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.67 and a current ratio of 6.02.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be issued a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.02%. Haynes International’s payout ratio is currently -33.98%.
In other news, Director Dawne S. Hickton acquired 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was purchased at an average cost of $31.50 per share, for a total transaction of $63,000.00. Following the completion of the acquisition, the director now directly owns 5,300 shares of the company’s stock, valued at approximately $166,950. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.56% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of HAYN. Alliancebernstein L.P. grew its stake in Haynes International by 5.5% in the second quarter. Alliancebernstein L.P. now owns 13,433 shares of the basic materials company’s stock valued at $488,000 after purchasing an additional 700 shares during the last quarter. TIAA CREF Investment Management LLC grew its stake in Haynes International by 0.9% in the second quarter. TIAA CREF Investment Management LLC now owns 33,941 shares of the basic materials company’s stock valued at $1,232,000 after purchasing an additional 297 shares during the last quarter. Northern Trust Corp grew its stake in Haynes International by 1.4% in the second quarter. Northern Trust Corp now owns 202,120 shares of the basic materials company’s stock valued at $7,338,000 after purchasing an additional 2,767 shares during the last quarter. Vanguard Group Inc. grew its stake in Haynes International by 1.8% in the second quarter. Vanguard Group Inc. now owns 1,202,116 shares of the basic materials company’s stock valued at $43,649,000 after purchasing an additional 21,216 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in Haynes International by 32.1% in the second quarter. Parametric Portfolio Associates LLC now owns 15,389 shares of the basic materials company’s stock valued at $559,000 after purchasing an additional 3,738 shares during the last quarter. Institutional investors own 98.56% of the company’s stock.
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About Haynes International
Haynes International, Inc (Haynes) is a producer of nickel- and cobalt-based alloys in flat product forms, such as sheet, coil and plate forms. The Company also produces its products as seamless and welded tubulars, and in slab, bar, billet and wire forms. It focuses on developing, manufacturing, marketing and distributing alloys, which are sold in the aerospace, chemical processing and industrial gas turbine industries.
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