StockNews.com Downgrades Haynes International (NASDAQ:HAYN) to Sell

StockNews.com cut shares of Haynes International (NASDAQ:HAYN) from a hold rating to a sell rating in a research report released on Monday morning.

Haynes International Price Performance

Shares of NASDAQ HAYN opened at $60.99 on Monday. Haynes International has a 1 year low of $47.69 and a 1 year high of $61.01. The firm’s 50-day moving average is $59.95 and its 200-day moving average is $59.49. 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 firm has a market capitalization of $779.45 million, a PE ratio of 20.96, a price-to-earnings-growth ratio of 0.85 and a beta of 1.39.

Haynes International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a $0.22 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.88 annualized dividend and a dividend yield of 1.44%. Haynes International’s dividend payout ratio is currently 30.24%.

Insider Buying and Selling

In related news, CFO Daniel W. Maudlin sold 6,744 shares of Haynes International stock in a transaction that occurred 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 $1,806,922.42. This trade represents a 18.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Haynes International

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its holdings in shares of Haynes International by 8.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,775 shares of the basic materials company’s stock valued at $165,000 after purchasing an additional 220 shares in the last quarter. Rhumbline Advisers lifted its stake in Haynes International by 3.2% in the second quarter. Rhumbline Advisers now owns 39,983 shares of the basic materials company’s stock valued at $2,347,000 after buying an additional 1,245 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Haynes International in the first quarter valued at approximately $114,000. Bank of New York Mellon Corp increased its position in shares of Haynes International by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 160,923 shares of the basic materials company’s stock worth $9,446,000 after acquiring an additional 4,153 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Haynes International by 16.9% during the first quarter. Russell Investments Group Ltd. now owns 31,845 shares of the basic materials company’s stock worth $1,915,000 after acquiring an additional 4,605 shares in the last quarter. 97.31% of the stock is currently owned by institutional investors and hedge funds.

About Haynes International

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.