Haynes International (NASDAQ:HAYN) Issues Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Haynes International (NASDAQ:HAYN) posted its quarterly earnings results on Thursday. The basic materials company reported $1.02 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.04), reports. The firm had revenue of $160.60 million during the quarter, compared to analyst estimates of $163.77 million. Haynes International had a net margin of 7.88% and a return on equity of 11.41%.

Haynes International Price Performance

Haynes International stock opened at $51.27 on Friday. The business has a 50 day simple moving average of $45.87 and a 200 day simple moving average of $47.49. Haynes International has a one year low of $41.15 and a one year high of $60.85. The company has a market capitalization of $652.67 million, a PE ratio of 14.44, a price-to-earnings-growth ratio of 0.52 and a beta of 1.51. The company has a debt-to-equity ratio of 0.26, a current ratio of 6.51 and a quick ratio of 1.35.

Haynes International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a $0.22 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.72%. Haynes International’s payout ratio is presently 24.79%.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Haynes International in a research report on Thursday, October 5th. They issued a “hold” rating for the company.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. US Bancorp DE lifted its holdings in Haynes International by 188.8% during the 1st quarter. US Bancorp DE now owns 777 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 508 shares during the last quarter. Captrust Financial Advisors grew its position in Haynes International by 77.8% during the 2nd quarter. Captrust Financial Advisors now owns 1,083 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 474 shares during the last quarter. Covestor Ltd increased its holdings in Haynes International by 484.2% during the 3rd quarter. Covestor Ltd now owns 1,589 shares of the basic materials company’s stock valued at $74,000 after purchasing an additional 1,317 shares in the last quarter. BNP Paribas Arbitrage SNC boosted its stake in Haynes International by 11.1% in the third quarter. BNP Paribas Arbitrage SNC now owns 4,026 shares of the basic materials company’s stock worth $141,000 after purchasing an additional 402 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in shares of Haynes International by 6.0% during the first quarter. MetLife Investment Management LLC now owns 5,871 shares of the basic materials company’s stock worth $250,000 after purchasing an additional 334 shares during the last quarter. 97.11% of the stock is currently owned by institutional investors and hedge funds.

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 (HTA) and corrosion-resistant alloys (CRA). Its HTA products are used by manufacturers of equipment, including jet engines for the aerospace market; gas turbine engines for power generation; waste incineration; and industrial heating equipment.