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

Investment analysts at StockNews.com initiated coverage on shares of Haynes International (NASDAQ:HAYN) in a research report issued to clients and investors on Saturday. The brokerage set a “hold” rating on the basic materials company’s stock.

HAYN has been the topic of several other research reports. Noble Financial cut shares of Haynes International from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 6th. Northcoast Research reiterated a “neutral” rating on shares of Haynes International in a research note on Thursday, March 14th.

Haynes International Trading Up 0.0 %

Shares of HAYN stock opened at $60.31 on Friday. Haynes International has a 12-month low of $41.15 and a 12-month high of $60.86. The company has a current ratio of 7.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.26. The firm’s 50 day moving average is $59.97 and its 200 day moving average is $54.25. The stock has a market capitalization of $770.76 million, a P/E ratio of 18.50, a P/E/G ratio of 0.75 and a beta of 1.43.

Haynes International (NASDAQ:HAYN) last issued its earnings results on Friday, February 9th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.10). Haynes International had a return on equity of 9.89% and a net margin of 6.94%. The company had revenue of $147.36 million during the quarter, compared to analysts’ expectations of $151.94 million. During the same quarter in the prior year, the business posted $0.61 EPS. Research analysts expect that Haynes International will post 3.83 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of HAYN. Covestor Ltd boosted its stake in shares of Haynes International by 484.2% during the 3rd quarter. Covestor Ltd now owns 1,589 shares of the basic materials company’s stock worth $74,000 after acquiring an additional 1,317 shares during the last quarter. New York State Teachers Retirement System raised its position 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. Russell Investments Group Ltd. raised its position in shares of Haynes International by 352.9% during the 4th quarter. Russell Investments Group Ltd. now owns 27,240 shares of the basic materials company’s stock valued at $1,554,000 after purchasing an additional 21,225 shares during the period. Diamond Hill Capital Management Inc. bought a new stake in shares of Haynes International during the 3rd quarter valued at $1,698,000. Finally, Foundry Partners LLC raised its position in shares of Haynes International by 10.1% during the 3rd quarter. Foundry Partners LLC now owns 102,925 shares of the basic materials company’s stock valued at $4,788,000 after purchasing an additional 9,435 shares during the period. Hedge funds and other 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.