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

StockNews.com initiated coverage on shares of Haynes International (NASDAQ:HAYN) in a research note published on Thursday morning. The brokerage issued a hold rating on the basic materials company’s stock.

Haynes International Stock Up 0.0 %

Haynes International stock opened at $60.99 on Thursday. The company has a current ratio of 7.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.22. Haynes International has a 1-year low of $47.69 and a 1-year high of $61.01. The firm’s fifty day simple moving average is $60.51 and its 200-day simple moving average is $59.68. The company has a market capitalization of $779.45 million, a P/E ratio of 20.96, a P/E/G ratio of 0.85 and a beta of 1.39.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in Haynes International by 2.0% during the third quarter. Geode Capital Management LLC now owns 298,479 shares of the basic materials company’s stock valued at $17,774,000 after purchasing an additional 5,767 shares during the last quarter. Gabelli Funds LLC boosted its holdings in shares of Haynes International by 29.5% during the 2nd 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 during the period. Bank of New York Mellon Corp grew its stake in 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 buying an additional 4,153 shares during the last quarter. Rhumbline Advisers raised its holdings in Haynes International by 3.2% in the 2nd quarter. Rhumbline Advisers now owns 39,983 shares of the basic materials company’s stock worth $2,347,000 after acquiring an additional 1,245 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in Haynes International by 71,414.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 25,030 shares of the basic materials company’s stock worth $1,469,000 after acquiring an additional 24,995 shares during 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.