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

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

Haynes International Stock Down 0.1 %

Shares of NASDAQ:HAYN opened at $58.59 on Wednesday. Haynes International has a 1 year low of $41.15 and a 1 year high of $60.86. The company has a debt-to-equity ratio of 0.22, a current ratio of 7.74 and a quick ratio of 1.89. The business’s 50-day moving average is $59.64 and its 200-day moving average is $59.50. The company has a market capitalization of $748.96 million, a price-to-earnings ratio of 19.79, a P/E/G ratio of 1.11 and a beta of 1.40.

Haynes International (NASDAQ:HAYN) last issued 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). The business had revenue of $153.92 million during the quarter, compared to analyst estimates of $159.35 million. Haynes International had a net margin of 6.11% and a return on equity of 8.45%. Equities research analysts predict that Haynes International will post 2.55 earnings per share for the current year.

Insider Activity

In other news, CFO Daniel W. Maudlin sold 6,744 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 30,287 shares in the company, valued at approximately $1,806,922.42. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Haynes International

A number of institutional investors have recently modified their holdings of the company. SG Americas Securities LLC grew its position in Haynes International by 1,035.8% in the 2nd quarter. SG Americas Securities LLC now owns 21,501 shares of the basic materials company’s stock valued at $1,262,000 after purchasing an additional 19,608 shares during the period. Gabelli Funds LLC bought a new stake in shares of Haynes International during the first quarter worth about $8,325,000. Cornercap Investment Counsel Inc. acquired a new stake in shares of Haynes International in the 2nd quarter worth about $526,000. Nisa Investment Advisors LLC lifted its position in Haynes International by 71,414.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 25,030 shares of the basic materials company’s stock valued at $1,469,000 after acquiring an additional 24,995 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Haynes International by 16.9% during the 1st quarter. Russell Investments Group Ltd. now owns 31,845 shares of the basic materials company’s stock valued at $1,915,000 after purchasing an additional 4,605 shares during the last quarter. 97.31% of the stock is owned by institutional investors and hedge funds.

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.