Victory Capital Management Inc. Increases Position in Haynes International, Inc. (HAYN)
Victory Capital Management Inc. increased its stake in Haynes International, Inc. (NASDAQ:HAYN) by 38.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,000 shares of the basic materials company’s stock after acquiring an additional 11,405 shares during the period. Victory Capital Management Inc. owned about 0.33% of Haynes International worth $1,489,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the stock. Cadence Capital Management LLC purchased a new position in Haynes International in the second quarter worth $588,000. KBC Group NV grew its position in Haynes International by 39.2% in the second quarter. KBC Group NV now owns 12,010 shares of the basic materials company’s stock worth $436,000 after acquiring an additional 3,383 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Haynes International by 50.2% in the second quarter. BNP Paribas Arbitrage SA now owns 4,098 shares of the basic materials company’s stock worth $149,000 after acquiring an additional 1,370 shares in the last quarter. Legal & General Group Plc grew its position in Haynes International by 11.2% in the second quarter. Legal & General Group Plc now owns 23,805 shares of the basic materials company’s stock worth $865,000 after acquiring an additional 2,399 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Haynes International in the second quarter worth $140,000. Institutional investors own 98.64% of the company’s stock.
Shares of Haynes International, Inc. (NASDAQ HAYN) opened at 30.69 on Wednesday. The firm’s 50-day moving average is $30.64 and its 200 day moving average is $35.61. Haynes International, Inc. has a 52-week low of $28.97 and a 52-week high of $48.37. The stock’s market capitalization is $380.56 million.
Haynes International (NASDAQ:HAYN) last posted its earnings results on Thursday, August 3rd. The basic materials company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). Haynes International had a negative return on equity of 1.59% and a negative net margin of 0.84%. The business had revenue of $97.98 million during the quarter, compared to the consensus estimate of $97.54 million. During the same quarter last year, the firm earned $0.22 earnings per share. The business’s quarterly revenue was down 3.2% on a year-over-year basis. Equities analysts expect that Haynes International, Inc. will post ($0.77) EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.87%. Haynes International’s dividend payout ratio (DPR) is presently -314.29%.
Several research analysts recently issued reports on the stock. ValuEngine lowered shares of Haynes International from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. J P Morgan Chase & Co reiterated a “neutral” rating and issued a $26.00 target price (down from $33.50) on shares of Haynes International in a research report on Saturday, July 22nd. Finally, Zacks Investment Research lowered shares of Haynes International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $36.50.
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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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