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

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

Other equities research analysts have also issued reports about the stock. Northcoast Research reaffirmed a neutral rating on shares of Haynes International in a report on Thursday, March 14th. Noble Financial cut shares of Haynes International from an outperform rating to a market perform rating in a research note on Tuesday, February 6th.

Haynes International Stock Down 0.2 %

HAYN opened at $59.34 on Friday. The stock has a market cap of $758.54 million, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 0.74 and a beta of 1.42. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.69 and a current ratio of 7.62. The firm’s fifty day moving average is $59.99 and its 200 day moving average is $55.28. Haynes International has a fifty-two week low of $41.15 and a fifty-two week high of $60.86.

Haynes International (NASDAQ:HAYN) last announced its quarterly earnings data on Friday, February 9th. The basic materials company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.10). Haynes International had a net margin of 6.94% and a return on equity of 9.89%. The business had revenue of $147.36 million during the quarter, compared to analysts’ expectations of $151.94 million. During the same quarter in the previous year, the firm earned $0.61 earnings per share. On average, sell-side analysts forecast that Haynes International will post 3.83 earnings per share for the current fiscal year.

Haynes International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.48%. The ex-dividend date was Thursday, February 29th. Haynes International’s dividend payout ratio is presently 26.99%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Covestor Ltd raised its stake in Haynes International by 484.2% during the third quarter. Covestor Ltd now owns 1,589 shares of the basic materials company’s stock valued at $74,000 after purchasing an additional 1,317 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Haynes International in the 1st quarter valued at about $114,000. BNP Paribas Financial Markets grew its position in Haynes International by 67.1% in 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 in the last quarter. New York State Teachers Retirement System increased its stake 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 last quarter. Finally, Russell Investments Group Ltd. raised 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 valued at $1,554,000 after purchasing an additional 21,225 shares during the period. 97.31% of the stock is currently owned by institutional investors.

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.