Haynes International (NASDAQ:HAYN) Research Coverage Started at StockNews.com

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

Haynes International Stock Performance

Shares of HAYN stock opened at $59.29 on Thursday. The stock has a fifty day moving average price of $59.58 and a 200 day moving average price of $59.47. The stock has a market cap of $757.90 million, a PE ratio of 20.03, a P/E/G ratio of 1.10 and a beta of 1.40. Haynes International has a 1 year low of $41.15 and a 1 year high of $60.86. 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 (NASDAQ:HAYN) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.33). The firm had revenue of $153.92 million for the quarter, compared to analyst estimates of $159.35 million. Haynes International had a return on equity of 8.45% and a net margin of 6.11%. Sell-side analysts forecast that Haynes International will post 2.55 earnings per share for the current fiscal year.

Insider Buying and Selling

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 transaction of $402,347.04. Following the completion of the transaction, the chief financial officer now owns 30,287 shares of the company’s stock, valued at $1,806,922.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Haynes International

Several hedge funds have recently bought and sold shares of the stock. Gabelli Funds LLC increased its position in Haynes International by 29.5% during the second quarter. Gabelli Funds LLC now owns 179,371 shares of the basic materials company’s stock worth $10,529,000 after buying an additional 40,904 shares in the last quarter. Cornercap Investment Counsel Inc. purchased a new position in Haynes International during the second quarter worth $526,000. Rhumbline Advisers increased its position in 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 buying an additional 1,245 shares in the last quarter. Bank of New York Mellon Corp increased its position in Haynes International by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 160,923 shares of the basic materials company’s stock worth $9,446,000 after buying an additional 4,153 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Haynes International by 71,414.3% in 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 purchasing an additional 24,995 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.