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

StockNews.com began coverage on shares of Haynes International (NASDAQ:HAYN) in a research note issued to investors on Tuesday. The brokerage set a “hold” rating on the basic materials company’s stock.

Haynes International Stock Performance

Shares of HAYN opened at $59.43 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 7.74 and a quick ratio of 1.89. Haynes International has a one year low of $41.15 and a one year high of $60.86. The company’s fifty day moving average price is $59.62 and its 200 day moving average price is $59.51. The company has a market capitalization of $759.69 million, a PE ratio of 20.08, a price-to-earnings-growth ratio of 1.12 and a beta of 1.40.

Haynes International (NASDAQ:HAYN) last announced 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). Haynes International had a return on equity of 8.45% and a net margin of 6.11%. The company had revenue of $153.92 million during the quarter, compared to analyst estimates of $159.35 million. As a group, analysts expect that Haynes International will post 2.55 earnings per share for the current year.

Insider Transactions at Haynes International

In other news, CFO Daniel W. Maudlin sold 6,744 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $59.66, for a total transaction of $402,347.04. Following the transaction, the chief financial officer now directly owns 30,287 shares in the company, valued at $1,806,922.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in shares of Haynes International during the 1st quarter worth about $114,000. BNP Paribas Financial Markets boosted its stake in Haynes International by 67.1% during the 1st 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. Cornercap Investment Counsel Inc. acquired a new position in Haynes International during the second quarter valued at approximately $526,000. Nisa Investment Advisors LLC increased its stake in 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 in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Haynes International by 352.9% in the fourth 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 in the last quarter. Institutional investors and hedge funds 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.