Haynes International (NASDAQ:HAYN) Upgraded by BidaskClub to Hold

BidaskClub upgraded shares of Haynes International (NASDAQ:HAYN) from a sell rating to a hold rating in a research report sent to investors on Monday, BidAskClub reports.

Several other brokerages have also issued reports on HAYN. ValuEngine lowered Haynes International from a hold rating to a sell rating in a research note on Thursday, August 1st. Zacks Investment Research raised Haynes International from a sell rating to a hold rating in a research note on Wednesday, August 21st.

Shares of HAYN stock opened at $35.85 on Monday. The company has a quick ratio of 1.57, a current ratio of 5.56 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average price of $30.97 and a two-hundred day moving average price of $31.73. Haynes International has a 12-month low of $24.46 and a 12-month high of $37.39. The firm has a market cap of $453.98 million, a P/E ratio of -512.14 and a beta of 1.67.

Haynes International (NASDAQ:HAYN) last issued its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.09). Haynes International had a return on equity of 2.06% and a net margin of 1.21%. The firm had revenue of $126.03 million for the quarter, compared to the consensus estimate of $130.14 million. During the same period last year, the firm earned $0.05 EPS. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, research analysts expect that Haynes International will post 0.68 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend was Thursday, August 29th. Haynes International’s dividend payout ratio (DPR) is currently -1,257.14%.

A number of hedge funds have recently modified their holdings of the business. Texas Permanent School Fund lifted its stake in Haynes International by 3.9% during the first quarter. Texas Permanent School Fund now owns 8,499 shares of the basic materials company’s stock worth $279,000 after purchasing an additional 317 shares during the last quarter. Quantamental Technologies LLC lifted its stake in shares of Haynes International by 64.9% in the 2nd quarter. Quantamental Technologies LLC now owns 978 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 385 shares during the last quarter. Swiss National Bank lifted its stake in shares of Haynes International by 2.2% in the 2nd quarter. Swiss National Bank now owns 23,300 shares of the basic materials company’s stock valued at $741,000 after acquiring an additional 500 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Haynes International by 16.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,191 shares of the basic materials company’s stock valued at $258,000 after acquiring an additional 1,164 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Haynes International by 882.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,887 shares of the basic materials company’s stock valued at $95,000 after acquiring an additional 2,593 shares during the last quarter. 95.55% of the stock is owned by hedge funds and other institutional investors.

About Haynes International

Haynes International, Inc engages in the development, manufacture, and marketing of nickel-and cobalt-based alloys used in corrosion and high-temperature applications. It supports a range of industries such as aerospace, chemical processing, and industrial gas turbine. The company was founded by Elwood P.

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