Haynes International’s (HAYN) “Hold” Rating Reiterated at KeyCorp
A number of other research firms have also issued reports on HAYN. Zacks Investment Research upgraded Haynes International from a strong sell rating to a hold rating in a research report on Monday, October 30th. ValuEngine lowered Haynes International from a hold rating to a sell rating in a research report on Friday, September 1st. Finally, J P Morgan Chase & Co restated a neutral rating and issued a $26.00 price target (down from $33.50) on shares of Haynes International in a research report on Saturday, July 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company has an average rating of Hold and an average target price of $36.50.
Shares of Haynes International (NASDAQ:HAYN) traded up $0.06 during trading on Thursday, hitting $32.37. The company’s stock had a trading volume of 189,382 shares, compared to its average volume of 59,036. The company has a quick ratio of 1.96, a current ratio of 6.15 and a debt-to-equity ratio of 0.03. Haynes International has a fifty-two week low of $28.97 and a fifty-two week high of $48.37.
Haynes International (NASDAQ:HAYN) last posted its quarterly earnings results on Thursday, November 16th. The basic materials company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.06). The company had revenue of $100.80 million during the quarter, compared to analysts’ expectations of $100.19 million. Haynes International had a negative net margin of 2.58% and a negative return on equity of 3.12%. Haynes International’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter last year, the company earned $0.08 earnings per share. equities research analysts anticipate that Haynes International will post 0.77 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.88 annualized dividend and a yield of 2.72%. Haynes International’s payout ratio is -106.02%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Haynes International by 1.8% during the second quarter. Vanguard Group Inc. now owns 1,202,116 shares of the basic materials company’s stock worth $43,649,000 after buying an additional 21,216 shares during the period. Royce & Associates LP boosted its position in shares of Haynes International by 2.6% during the third quarter. Royce & Associates LP now owns 1,122,206 shares of the basic materials company’s stock worth $40,298,000 after buying an additional 28,207 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Haynes International by 6.4% during the third quarter. Dimensional Fund Advisors LP now owns 1,010,059 shares of the basic materials company’s stock worth $36,271,000 after buying an additional 60,322 shares during the period. State Street Corp boosted its position in shares of Haynes International by 7.1% during the second quarter. State Street Corp now owns 426,006 shares of the basic materials company’s stock worth $15,469,000 after buying an additional 28,260 shares during the period. Finally, Investment Counselors of Maryland LLC boosted its position in shares of Haynes International by 4.8% during the second quarter. Investment Counselors of Maryland LLC now owns 345,300 shares of the basic materials company’s stock worth $12,538,000 after buying an additional 15,900 shares during the period. Institutional investors and hedge funds own 98.56% of the company’s stock.
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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