Haynes International (NASDAQ:HAYN) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Haynes International (NASDAQ:HAYN) from a sell rating to a hold rating in a report issued on Tuesday.

Haynes International Stock Performance

Shares of HAYN stock opened at $60.99 on Tuesday. The firm’s 50 day moving average is $60.03 and its 200 day moving average is $59.51. The company has a current ratio of 7.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $779.45 million, a P/E ratio of 20.96, a PEG ratio of 0.85 and a beta of 1.39. Haynes International has a 12 month low of $47.69 and a 12 month high of $61.01.

Haynes International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Friday, August 30th. Haynes International’s dividend payout ratio (DPR) is presently 30.24%.

Insider Transactions at Haynes International

In related news, CFO Daniel W. Maudlin sold 6,744 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $59.66, for a total transaction of $402,347.04. Following the transaction, the chief financial officer now owns 30,287 shares of the company’s stock, valued at approximately $1,806,922.42. This trade represents a 18.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Haynes International

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC boosted its position in Haynes International by 1,035.8% during the 2nd quarter. SG Americas Securities LLC now owns 21,501 shares of the basic materials company’s stock valued at $1,262,000 after buying an additional 19,608 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Haynes International by 71,414.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 25,030 shares of the basic materials company’s stock worth $1,469,000 after purchasing an additional 24,995 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Haynes International by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 160,923 shares of the basic materials company’s stock worth $9,446,000 after purchasing an additional 4,153 shares during the period. Rhumbline Advisers lifted its position in shares of Haynes International by 3.2% in the 2nd quarter. Rhumbline Advisers now owns 39,983 shares of the basic materials company’s stock worth $2,347,000 after purchasing an additional 1,245 shares during the period. Finally, Cornercap Investment Counsel Inc. purchased a new stake in shares of Haynes International in the 2nd quarter worth about $526,000. Institutional investors own 97.31% of the company’s stock.

Haynes International Company Profile

Haynes International, Inc develops, manufactures, markets, and distributes nickel and cobalt-based alloys in sheet, coil, and plate forms in the United States, Europe, China, and internationally. The company offers high-temperature resistant alloys used by manufacturers of equipment, including jet engines for the aerospace market, gas turbine engines for power generation, and industrial heating equipment.