StockNews.com Begins Coverage on Haynes International (NASDAQ:HAYN)

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

Haynes International Price Performance

Shares of HAYN stock opened at $60.99 on Friday. The stock’s fifty day moving average is $60.78 and its 200-day moving average is $59.84. 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 has a 52 week low of $47.69 and a 52 week high of $61.01. The stock has a market capitalization of $779.45 million, a PE ratio of 20.96, a PEG ratio of 0.85 and a beta of 1.39.

Hedge Funds Weigh In On Haynes International

Several hedge funds have recently added to or reduced their stakes in HAYN. Bank of New York Mellon Corp raised its position in shares of Haynes International by 2.6% during the 2nd 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. Rhumbline Advisers grew its stake in shares of Haynes International by 3.2% during the second quarter. Rhumbline Advisers now owns 39,983 shares of the basic materials company’s stock worth $2,347,000 after purchasing an additional 1,245 shares during the period. Cornercap Investment Counsel Inc. bought a new stake in Haynes International in the second quarter valued at about $526,000. Gabelli Funds LLC lifted its stake in 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 buying an additional 40,904 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in Haynes International by 8.6% during the third quarter. BNP Paribas Financial Markets now owns 2,775 shares of the basic materials company’s stock worth $165,000 after buying an additional 220 shares during the last quarter. Institutional investors 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.