Haynes International (NASDAQ:HAYN) Raised to “B” at TheStreet

TheStreet upgraded shares of Haynes International (NASDAQ:HAYNGet Rating) from a c+ rating to a b rating in a research report sent to investors on Friday, TheStreetRatingsTable reports.

Several other equities research analysts also recently weighed in on HAYN. KeyCorp lifted their price target on shares of Haynes International from $41.00 to $55.00 and gave the company an overweight rating in a research note on Friday, April 1st. StockNews.com began coverage on shares of Haynes International in a research note on Thursday, March 31st. They issued a hold rating for the company. Finally, Zacks Investment Research raised shares of Haynes International from a hold rating to a strong-buy rating and set a $54.00 price target for the company in a research note on Tuesday, April 5th.

Shares of NASDAQ HAYN opened at $36.70 on Friday. Haynes International has a twelve month low of $29.47 and a twelve month high of $49.76. The business’s fifty day moving average price is $41.88. The company has a market capitalization of $456.92 million, a P/E ratio of 28.90 and a beta of 1.34. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.03 and a quick ratio of 0.99.

Haynes International (NASDAQ:HAYNGet Rating) last announced its earnings results on Thursday, April 28th. The basic materials company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.03. Haynes International had a net margin of 4.03% and a return on equity of 4.87%. During the same quarter in the prior year, the firm earned ($0.29) earnings per share. As a group, analysts anticipate that Haynes International will post 2.75 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Tuesday, May 31st. Haynes International’s payout ratio is presently 69.29%.

Large investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of Haynes International during the third quarter worth about $555,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Haynes International by 15.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 546,183 shares of the basic materials company’s stock worth $22,028,000 after acquiring an additional 71,392 shares in the last quarter. Strs Ohio increased its position in shares of Haynes International by 41.1% during the fourth quarter. Strs Ohio now owns 20,600 shares of the basic materials company’s stock worth $830,000 after acquiring an additional 6,000 shares in the last quarter. American Century Companies Inc. increased its position in shares of Haynes International by 35.6% during the third quarter. American Century Companies Inc. now owns 18,838 shares of the basic materials company’s stock worth $702,000 after acquiring an additional 4,949 shares in the last quarter. Finally, Putnam Investments LLC bought a new stake in shares of Haynes International during the third quarter worth about $2,018,000. 96.38% of the stock is owned by institutional investors.

About Haynes International (Get Rating)

Haynes International, Inc develops, manufactures, markets, and distributes nickel and cobalt-based alloys in sheet, coil, and plate forms in the United States, Europe, Asia, and internationally. The company offers high-temperature resistant alloys (HTA) and corrosion-resistant alloys (CRA). Its HTA products are used by manufacturers of equipment, including jet engines for the aerospace market; gas turbine engines for power generation; and industrial heating equipment.

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