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

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

Haynes International Trading Down 0.4 %

Shares of NASDAQ:HAYN opened at $59.43 on Tuesday. The firm has a market cap of $759.69 million, a price-to-earnings ratio of 20.08, a PEG ratio of 1.12 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’s fifty day simple moving average is $59.62 and its 200 day simple moving average is $59.51. The company has a quick ratio of 1.89, a current ratio of 7.74 and a debt-to-equity ratio of 0.22.

Haynes International (NASDAQ:HAYN) last posted its earnings results on Thursday, August 1st. The basic materials company reported $0.63 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 analyst estimates of $159.35 million. Haynes International had a net margin of 6.11% and a return on equity of 8.45%. As a group, research analysts forecast that Haynes International will post 2.55 EPS for the current fiscal year.

Insider Activity at Haynes International

In other Haynes International news, CFO Daniel W. Maudlin sold 6,744 shares of Haynes International stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $59.66, for a total value of $402,347.04. Following the completion of the sale, the chief financial officer now owns 30,287 shares in the company, valued at approximately $1,806,922.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Haynes International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its position in shares of 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 worth $1,554,000 after purchasing an additional 21,225 shares during the period. BNP Paribas Financial Markets grew 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 buying an additional 2,504 shares in the last quarter. SG Americas Securities LLC bought a new position in Haynes International in the 1st quarter valued at about $114,000. Gabelli Funds LLC acquired a new position in shares of Haynes International in the 1st quarter valued at approximately $8,325,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of Haynes International during the 1st quarter worth approximately $7,070,000. 97.31% of the stock is owned by institutional investors and hedge funds.

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.