Haynes International (NASDAQ:HAYN) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Haynes International (NASDAQ:HAYN) in a research note issued on Friday. The firm set a “hold” rating on the basic materials company’s stock.

Haynes International Trading Up 0.1 %

NASDAQ:HAYN opened at $59.55 on Friday. The company has a market capitalization of $761.23 million, a PE ratio of 20.12, a P/E/G ratio of 1.10 and a beta of 1.39. Haynes International has a 52-week low of $41.15 and a 52-week high of $60.86. The stock’s 50 day moving average price is $59.57 and its 200 day moving average price is $59.47. The company has a quick ratio of 1.89, a current ratio of 7.74 and a debt-to-equity ratio of 0.22.

Haynes International (NASDAQ:HAYN) last announced its earnings results 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 business had revenue of $153.92 million for the quarter, compared to analysts’ expectations of $159.35 million. Haynes International had a return on equity of 8.45% and a net margin of 6.11%. On average, research analysts anticipate that Haynes International will post 2.55 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Daniel W. Maudlin sold 6,744 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $59.66, for a total value of $402,347.04. Following the transaction, the chief financial officer now owns 30,287 shares of the company’s stock, valued at approximately $1,806,922.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in Haynes International in the 1st quarter valued at approximately $114,000. BNP Paribas Financial Markets grew its holdings in Haynes International by 67.1% during 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 during the period. Cornercap Investment Counsel Inc. purchased a new position in Haynes International in the second quarter worth $526,000. Nisa Investment Advisors LLC raised its position in Haynes International by 71,414.3% in the second quarter. Nisa Investment Advisors LLC now owns 25,030 shares of the basic materials company’s stock worth $1,469,000 after acquiring an additional 24,995 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in 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 period. 97.31% of the stock is currently owned by institutional investors and hedge funds.

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.