BidaskClub upgraded shares of Haynes International (NASDAQ:HAYN) from a buy rating to a strong-buy rating in a report released on Thursday, March 15th.
HAYN has been the topic of several other reports. Zacks Investment Research raised shares of Haynes International from a hold rating to a buy rating and set a $48.00 price objective on the stock in a research note on Wednesday, March 7th. ValuEngine cut shares of Haynes International from a hold rating to a sell rating in a research note on Friday, February 2nd. KeyCorp reissued a hold rating on shares of Haynes International in a research note on Thursday, November 16th. Finally, JPMorgan Chase upgraded shares of Haynes International from a neutral rating to an overweight rating in a research report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Haynes International has a consensus rating of Hold and a consensus price target of $41.00.
HAYN traded down $0.46 during trading on Thursday, hitting $37.65. The stock had a trading volume of 101,479 shares, compared to its average volume of 115,856. The company has a debt-to-equity ratio of 0.03, a current ratio of 6.02 and a quick ratio of 1.67. Haynes International has a twelve month low of $28.97 and a twelve month high of $45.14.
Haynes International (NASDAQ:HAYN) last announced its quarterly earnings data on Thursday, February 1st. The basic materials company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.10. The company had revenue of $89.70 million for the quarter, compared to analysts’ expectations of $94.95 million. Haynes International had a negative net margin of 8.18% and a negative return on equity of 3.76%. Haynes International’s revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.06) EPS. sell-side analysts predict that Haynes International will post 0.94 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.34%. Haynes International’s payout ratio is currently -112.82%.
Hedge funds and other institutional investors have recently modified their holdings of the business. Royce & Associates LP boosted its position in shares of Haynes International by 1.4% during the 4th quarter. Royce & Associates LP now owns 1,137,816 shares of the basic materials company’s stock worth $36,467,000 after purchasing an additional 15,610 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Haynes International by 6.2% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 28,265 shares of the basic materials company’s stock worth $906,000 after purchasing an additional 1,648 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Haynes International by 1,968.2% during the 3rd quarter. Wells Fargo & Company MN now owns 191,428 shares of the basic materials company’s stock worth $6,875,000 after purchasing an additional 182,172 shares in the last quarter. Boston Partners boosted its position in shares of Haynes International by 141.8% during the 3rd quarter. Boston Partners now owns 295,230 shares of the basic materials company’s stock worth $10,602,000 after purchasing an additional 173,120 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Haynes International by 16.1% during the 4th quarter. Victory Capital Management Inc. now owns 51,200 shares of the basic materials company’s stock worth $1,641,000 after purchasing an additional 7,100 shares in the last quarter. Institutional investors own 98.56% of the company’s stock.
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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, Asia, and internationally. The company offers high-temperature resistant alloys (HTA) and corrosion-resistant alloys (CRA). Its HTA products are used by manufacturers of equipment, including jet engines for the aerospace market; gas turbine engines for power generation and waste incineration; and industrial heating equipment.
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