Haynes International Inc. (HAYN) Downgraded to “Strong Sell” at Zacks Investment Research
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. “
HAYN has been the topic of several other research reports. JPMorgan Chase & Co. lowered Haynes International from an overweight rating to a neutral rating and dropped their target price for the stock from $47.00 to $39.00 in a report on Wednesday, November 16th. Rosenblatt Securities lowered Haynes International from a buy rating to a neutral rating and set a $39.00 target price on the stock. in a report on Monday, August 29th.
Shares of Haynes International (NASDAQ:HAYN) opened at 43.57 on Tuesday. The firm has a market cap of $538.96 million, a price-to-earnings ratio of 108.92 and a beta of 1.53. The stock’s 50 day moving average price is $36.68 and its 200 day moving average price is $35.25. Haynes International has a one year low of $25.53 and a one year high of $45.92.
Haynes International (NASDAQ:HAYN) last released its earnings results on Thursday, November 17th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the 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 company had revenue of $107.50 million for the quarter. During the same quarter in the previous year, the firm earned $0.46 EPS. The business’s quarterly revenue was down 8.1% compared to the same quarter last year. On average, equities analysts anticipate that Haynes International will post $1.86 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.88 annualized dividend and a yield of 2.02%. Haynes International’s dividend payout ratio is 220.00%.
In other Haynes International news, Director William P. Wall sold 2,000 shares of the company’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 sale, the director now owns 15,906 shares in the company, valued at $704,635.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.68% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in HAYN. Municipal Employees Retirement System of Michigan raised its stake in Haynes International by 1.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 2,770 shares of the company’s stock valued at $103,000 after buying an additional 50 shares in the last quarter. Arizona State Retirement System raised its stake in Haynes International by 1.6% in the second quarter. Arizona State Retirement System now owns 6,465 shares of the company’s stock valued at $207,000 after buying an additional 100 shares in the last quarter. Victory Capital Management Inc. raised its stake in Haynes International by 0.4% in the third quarter. Victory Capital Management Inc. now owns 27,590 shares of the company’s stock valued at $1,024,000 after buying an additional 110 shares in the last quarter. California State Teachers Retirement System raised its stake in Haynes International by 0.8% in the third quarter. California State Teachers Retirement System now owns 26,336 shares of the company’s stock valued at $977,000 after buying an additional 200 shares in the last quarter. Finally, Teton Advisors Inc. raised its stake in Haynes International by 1.9% in the second quarter. Teton Advisors Inc. now owns 27,500 shares of the company’s stock valued at $882,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 98.81% of the company’s stock.
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.
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