Haynes International (NASDAQ:HAYN) Raised to “Hold” at StockNews.com

Haynes International (NASDAQ:HAYN) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

Haynes International Stock Performance

NASDAQ HAYN opened at $60.99 on Tuesday. 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 one year low of $47.69 and a one year high of $61.01. The company has a 50-day simple moving average of $60.03 and a 200-day simple moving average of $59.51. The firm has a market capitalization of $779.45 million, a PE ratio of 20.96, a price-to-earnings-growth ratio of 0.85 and a beta of 1.39.

Insider Activity at Haynes International

In other Haynes International news, CFO Daniel W. Maudlin sold 6,744 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 30,287 shares in the company, valued at approximately $1,806,922.42. This trade represents a 18.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 6.10% of the company’s stock.

Institutional Trading of Haynes International

A number of large investors have recently modified their holdings of the company. SG Americas Securities LLC boosted its stake in Haynes International by 1,035.8% during 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. Cornercap Investment Counsel Inc. bought a new position in Haynes International in the 2nd quarter worth approximately $526,000. Nisa Investment Advisors LLC grew its holdings 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 worth $1,469,000 after buying an additional 24,995 shares in the last quarter. Gabelli Funds LLC increased its position in Haynes International by 29.5% in the 2nd quarter. Gabelli Funds LLC now owns 179,371 shares of the basic materials company’s stock valued at $10,529,000 after acquiring an additional 40,904 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in 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 in the last quarter. Institutional investors and hedge funds own 97.31% of the company’s stock.

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.