FMR LLC lessened its stake in shares of Haynes International, Inc. (NASDAQ:HAYN) by 10.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,250,000 shares of the basic materials company’s stock after selling 150,000 shares during the period. FMR LLC owned about 10.08% of Haynes International worth $45,388,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. raised its stake in Haynes International by 5.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 53,430 shares of the basic materials company’s stock valued at $2,037,000 after purchasing an additional 2,724 shares during the period. Cadence Capital Management LLC acquired a new stake in Haynes International during the 2nd quarter valued at $588,000. Thrivent Financial For Lutherans raised its stake in Haynes International by 3.5% during the 1st quarter. Thrivent Financial For Lutherans now owns 7,010 shares of the basic materials company’s stock valued at $267,000 after purchasing an additional 240 shares during the period. Bank of America Corp DE raised its stake in Haynes International by 35.9% during the 1st quarter. Bank of America Corp DE now owns 23,315 shares of the basic materials company’s stock valued at $889,000 after purchasing an additional 6,157 shares during the period. Finally, Investment Counselors of Maryland LLC raised its stake in Haynes International by 4.8% during the 2nd quarter. Investment Counselors of Maryland LLC now owns 345,300 shares of the basic materials company’s stock valued at $12,538,000 after purchasing an additional 15,900 shares during the period. Institutional investors own 99.14% of the company’s stock.
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Shares of Haynes International, Inc. (NASDAQ:HAYN) opened at 36.26 on Friday. The company’s market capitalization is $449.62 million. Haynes International, Inc. has a one year low of $28.97 and a one year high of $48.37. The company has a 50-day moving average of $34.97 and a 200-day moving average of $35.13.
Haynes International (NASDAQ:HAYN) last released its quarterly earnings data on Thursday, August 3rd. The basic materials company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The firm had revenue of $97.98 million for the quarter, compared to analyst estimates of $97.54 million. Haynes International had a negative return on equity of 1.59% and a negative net margin of 0.84%. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.22 earnings per share. On average, analysts anticipate that Haynes International, Inc. will post ($0.77) earnings per share for the current year.
Several brokerages have issued reports on HAYN. ValuEngine downgraded shares of Haynes International from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Zacks Investment Research downgraded shares of Haynes International from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 11th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $26.00 price target (down from $33.50) on shares of Haynes International in a research note on Saturday, July 22nd. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $36.50.
About Haynes International
Haynes International, Inc (Haynes) is a producer of nickel- and cobalt-based alloys in flat product forms, such as sheet, coil and plate forms. The Company also produces its products as seamless and welded tubulars, and in slab, bar, billet and wire forms. It focuses on developing, manufacturing, marketing and distributing alloys, which are sold in the aerospace, chemical processing and industrial gas turbine industries.
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