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

StockNews.com began coverage on shares of Haynes International (NASDAQ:HAYN) in a research report report published on Friday. The brokerage issued a hold rating on the basic materials company’s stock.

Haynes International Stock Up 0.5 %

Shares of NASDAQ:HAYN opened at $59.84 on Friday. The firm has a market capitalization of $764.93 million, a P/E ratio of 20.22, a P/E/G ratio of 0.94 and a beta of 1.40. The stock has a 50 day moving average price of $59.01 and a 200-day moving average price of $59.28. Haynes International has a 52-week low of $41.15 and a 52-week high of $60.86. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.75 and a current ratio of 7.63.

Haynes International (NASDAQ:HAYN) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.33). Haynes International had a return on equity of 8.51% and a net margin of 6.11%. The business had revenue of $153.92 million during the quarter, compared to analysts’ expectations of $159.35 million. As a group, equities research analysts anticipate that Haynes International will post 3.02 EPS for the current fiscal year.

Haynes International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, August 30th. Haynes International’s payout ratio is currently 29.73%.

Institutional Investors Weigh In On Haynes International

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in shares of Haynes International in the first quarter worth approximately $114,000. BNP Paribas Financial Markets boosted its stake in shares of Haynes International by 67.1% in the 1st quarter. BNP Paribas Financial Markets now owns 6,233 shares of the basic materials company’s stock worth $375,000 after buying an additional 2,504 shares during the last quarter. Cornercap Investment Counsel Inc. bought a new stake in shares of Haynes International in the second quarter worth $526,000. Nisa Investment Advisors LLC increased its position in Haynes International by 71,414.3% during the second 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 during the last quarter. Finally, New York State Teachers Retirement System grew its stake in shares of Haynes International by 2.4% during the 4th quarter. New York State Teachers Retirement System now owns 26,061 shares of the basic materials company’s stock valued at $1,487,000 after purchasing an additional 600 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.