Vanguard Group Inc. increased its stake in Haynes International, Inc. (NASDAQ:HAYN) by 6.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,180,900 shares of the basic materials company’s stock after buying an additional 70,804 shares during the period. Vanguard Group Inc. owned 9.44% of Haynes International worth $45,016,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in Haynes International during the fourth quarter valued at approximately $14,499,000. Royce & Associates LP increased its position in Haynes International by 9.9% in the first quarter. Royce & Associates LP now owns 1,066,599 shares of the basic materials company’s stock valued at $40,659,000 after buying an additional 96,226 shares during the period. TFS Capital LLC bought a new position in Haynes International during the first quarter valued at approximately $782,000. Credit Agricole S A increased its position in Haynes International by 20.0% in the first quarter. Credit Agricole S A now owns 78,000 shares of the basic materials company’s stock valued at $2,974,000 after buying an additional 13,000 shares during the period. Finally, Gamco Investors INC. ET AL increased its position in Haynes International by 10.6% in the first quarter. Gamco Investors INC. ET AL now owns 124,095 shares of the basic materials company’s stock valued at $4,731,000 after buying an additional 11,917 shares during the period. Institutional investors and hedge funds own 98.41% of the company’s stock.
Haynes International, Inc. (NASDAQ HAYN) traded down 0.50% during trading on Friday, hitting $29.72. The company had a trading volume of 109,194 shares. Haynes International, Inc. has a one year low of $29.20 and a one year high of $48.37. The stock has a 50-day moving average of $33.51 and a 200 day moving average of $37.27. The company’s market capitalization is $368.53 million.
Haynes International (NASDAQ:HAYN) last announced its quarterly earnings results on Thursday, August 3rd. The basic materials company reported ($0.32) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.30) by $0.02. Haynes International had a negative net margin of 0.84% and a negative return on equity of 1.59%. The firm had revenue of $97.98 million during the quarter, compared to the consensus estimate of $97.54 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The firm’s revenue was down 3.2% on a year-over-year basis. Equities analysts forecast that Haynes International, Inc. will post ($0.18) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Wednesday, August 30th. Haynes International’s payout ratio is -314.29%.
HAYN has been the subject of several analyst reports. Zacks Investment Research downgraded Haynes International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 18th. Longbow Research upgraded Haynes International from a “neutral” rating to a “buy” rating and set a $47.00 target price for the company in a research report on Monday, May 15th. Finally, J P Morgan Chase & Co restated a “neutral” rating and set a $26.00 target price (down previously from $33.50) on shares of Haynes International in a research report on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $37.33.
Haynes International Company Profile
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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