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

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

Haynes International Trading Down 0.1 %

Shares of Haynes International stock opened at $59.71 on Friday. The company’s 50-day moving average price is $59.10 and its 200-day moving average price is $59.42. The company has a market cap of $763.27 million, a price-to-earnings ratio of 20.17, a PEG ratio of 0.94 and a beta of 1.40. 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 7.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.25.

Haynes International (NASDAQ:HAYN) last posted its earnings results 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 during the quarter, compared to analysts’ expectations of $159.35 million. Haynes International had a return on equity of 8.51% and a net margin of 6.11%. On average, equities analysts expect that Haynes International will post 3.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Rhumbline Advisers grew its stake 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 buying an additional 1,245 shares in the last quarter. SG Americas Securities LLC bought a new position in Haynes International in the first quarter valued at $114,000. BNP Paribas Financial Markets lifted its stake in Haynes International by 67.1% during the first quarter. BNP Paribas Financial Markets now owns 6,233 shares of the basic materials company’s stock worth $375,000 after purchasing an additional 2,504 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings 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 worth $9,446,000 after purchasing an additional 4,153 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position 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 currently owned by institutional investors.

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.