Haynes International (NASDAQ:HAYN) Now Covered by StockNews.com

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

Haynes International Stock Performance

Shares of NASDAQ:HAYN opened at $59.71 on Friday. Haynes International has a 12-month low of $41.15 and a 12-month high of $60.86. The company’s 50 day moving average price is $59.10 and its two-hundred day moving average price is $59.42. The firm has a market cap of $763.27 million, a PE ratio of 20.17, a PEG ratio of 0.94 and a beta of 1.40. The company has a quick ratio of 1.75, a current ratio of 7.63 and a debt-to-equity ratio of 0.25.

Haynes International (NASDAQ:HAYN) last issued its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.33). The company 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 8.51% and a net margin of 6.11%. Equities research analysts predict that Haynes International will post 3.02 earnings per share for the current year.

Hedge Funds Weigh In On Haynes International

Several hedge funds have recently bought and sold shares of the company. Rhumbline Advisers lifted its position in shares of Haynes International by 3.2% during the 2nd 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 during the last quarter. SG Americas Securities LLC bought a new position in shares of Haynes International in the first quarter worth about $114,000. BNP Paribas Financial Markets lifted its holdings in shares of Haynes International by 67.1% in the first quarter. BNP Paribas Financial Markets now owns 6,233 shares of the basic materials company’s stock worth $375,000 after acquiring an additional 2,504 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Haynes International by 2.6% in 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 purchasing an additional 4,153 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Haynes International by 16.9% during the 1st quarter. Russell Investments Group Ltd. now owns 31,845 shares of the basic materials company’s stock valued at $1,915,000 after purchasing an additional 4,605 shares during the last quarter. 97.31% of the stock is owned by institutional investors.

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.