Haynes International (HAYN) Reaches New 52-Week High at $43.63

Haynes International, Inc. (NASDAQ:HAYN) shares hit a new 52-week high during trading on Friday . The company traded as high as $43.63 and last traded at $42.79, with a volume of 146200 shares. The stock had previously closed at $42.79.

A number of research analysts have commented on the stock. BidaskClub upgraded shares of Haynes International from a “hold” rating to a “buy” rating in a research note on Sunday, February 11th. ValuEngine cut shares of Haynes International from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Zacks Investment Research cut shares of Haynes International from a “buy” rating to a “hold” rating in a research note on Tuesday, January 30th. KeyCorp reiterated a “hold” rating on shares of Haynes International in a research note on Thursday, November 16th. Finally, JPMorgan Chase & Co. upgraded shares of Haynes International from a “neutral” rating to an “overweight” rating in a research note on Monday, February 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Haynes International has an average rating of “Hold” and a consensus target price of $38.00.

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.67 and a current ratio of 6.02. The company has a market capitalization of $535.74, a P/E ratio of -16.58 and a beta of 1.60.

Haynes International (NASDAQ:HAYN) last posted its earnings results on Thursday, February 1st. The basic materials company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.10. Haynes International had a negative net margin of 8.18% and a negative return on equity of 3.76%. The company had revenue of $89.70 million during the quarter, compared to analysts’ expectations of $94.95 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. Haynes International’s quarterly revenue was down 3.9% compared to the same quarter last year. research analysts anticipate that Haynes International, Inc. will post 0.79 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Wednesday, February 28th. Haynes International’s dividend payout ratio (DPR) is currently -33.98%.

In other news, Director Dawne S. Hickton bought 2,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was bought at an average price of $31.50 per share, for a total transaction of $63,000.00. Following the completion of the purchase, the director now owns 5,300 shares of the company’s stock, valued at approximately $166,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.41% of the company’s stock.

Several institutional investors have recently modified their holdings of HAYN. SG Americas Securities LLC acquired a new stake in shares of Haynes International in the fourth quarter valued at approximately $111,000. Municipal Employees Retirement System of Michigan increased its holdings in shares of Haynes International by 59.0% in the third quarter. Municipal Employees Retirement System of Michigan now owns 4,690 shares of the basic materials company’s stock valued at $168,000 after purchasing an additional 1,740 shares in the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of Haynes International in the fourth quarter valued at approximately $213,000. Virtu Financial LLC acquired a new stake in shares of Haynes International in the fourth quarter valued at approximately $226,000. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Haynes International by 63.8% in the third quarter. BNP Paribas Arbitrage SA now owns 6,713 shares of the basic materials company’s stock valued at $241,000 after purchasing an additional 2,615 shares in the last quarter. 98.56% of the stock is owned by institutional investors and hedge funds.

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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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