Zacks Investment Research downgraded shares of Haynes International Inc. (NASDAQ:HAYN) from a hold rating to a strong sell rating in a research report sent to investors on Tuesday morning.

According to Zacks, “Haynes International, Inc. is a technology-oriented company devoted primarily to the development and manufacture of high-performance nickel- and cobalt-based alloys for service in severe corrosion and high-temperature applications. Superior customer service and technical support are provided worldwide by well-trained professionals within the company. Haynes’ service centers and affiliates have available in-stock sheet, plate, bar, wire, tubing, forging stock, fittings, and flanges. “

A number of other research firms also recently weighed in on HAYN. Rosenblatt Securities downgraded Haynes International from a buy rating to a neutral rating and set a $39.00 price target for the company. in a research note on Monday, August 29th. JPMorgan Chase & Co. reaffirmed a buy rating on shares of Haynes International in a research note on Friday, August 5th.

Haynes International (NASDAQ:HAYN) opened at 43.57 on Tuesday. The stock has a market capitalization of $538.96 million, a PE ratio of 108.92 and a beta of 1.53. Haynes International has a 1-year low of $25.53 and a 1-year high of $45.92. The stock’s 50 day moving average price is $36.68 and its 200 day moving average price is $35.25.

Haynes International (NASDAQ:HAYN) last posted its quarterly earnings results on Thursday, November 17th. The company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.03. Haynes International had a return on equity of 0.60% and a net margin of 1.24%. The firm had revenue of $107.50 million for the quarter. During the same period in the previous year, the business earned $0.46 earnings per share. Haynes International’s quarterly revenue was down 8.1% on a year-over-year basis. Equities research analysts forecast that Haynes International will post $1.86 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Tuesday, November 29th. Haynes International’s payout ratio is 220.00%.

In related news, Director William P. Wall sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $44.30, for a total value of $88,600.00. Following the transaction, the director now directly owns 15,906 shares of the company’s stock, valued at approximately $704,635.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.68% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in Haynes International by 34.9% in the second quarter. State Street Corp now owns 786,457 shares of the company’s stock worth $25,229,000 after buying an additional 203,302 shares during the period. Emerald Acquisition Ltd. acquired a new stake in Haynes International during the second quarter worth about $6,404,000. Heartland Advisors Inc. raised its stake in shares of Haynes International by 48.3% in the second quarter. Heartland Advisors Inc. now owns 284,630 shares of the company’s stock valued at $9,131,000 after buying an additional 92,643 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Haynes International by 8.1% in the third quarter. BlackRock Fund Advisors now owns 912,185 shares of the company’s stock valued at $33,851,000 after buying an additional 67,976 shares during the last quarter. Finally, Royce & Associates LP raised its stake in shares of Haynes International by 6.7% in the second quarter. Royce & Associates LP now owns 1,004,116 shares of the company’s stock valued at $32,212,000 after buying an additional 63,257 shares during the last quarter. 98.81% of the stock is currently owned by hedge funds and other institutional investors.

Haynes International Company Profile

Haynes International, Inc produces nickel- and cobalt-based alloys in flat product forms, such as sheet, coil and plate forms. The Company operates through the segment of design, manufacture, marketing and distribution of technologically advanced, high-performance alloys for use in the aerospace, land-based gas turbine, chemical processing and other industries.

5 Day Chart for NASDAQ:HAYN

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