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

Haynes International (NASDAQ:HAYN) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

Haynes International Price Performance

Haynes International stock opened at $60.99 on Tuesday. The business has a 50-day simple moving average of $60.08 and a 200 day simple moving average of $59.52. Haynes International has a 52 week low of $47.69 and a 52 week high of $61.01. The stock has a market cap of $779.45 million, a price-to-earnings ratio of 20.96, a PEG ratio of 0.85 and a beta of 1.39. The company has a quick ratio of 1.89, a current ratio of 7.74 and a debt-to-equity ratio of 0.22.

Insider Buying and Selling at Haynes International

In other news, CFO Daniel W. Maudlin sold 6,744 shares of the firm’s 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 sale, the chief financial officer now owns 30,287 shares in the company, valued at approximately $1,806,922.42. This trade represents a 18.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 6.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings in shares of Haynes International by 1,035.8% in the 2nd quarter. SG Americas Securities LLC now owns 21,501 shares of the basic materials company’s stock worth $1,262,000 after purchasing an additional 19,608 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Haynes International by 71,414.3% during the second quarter. Nisa Investment Advisors LLC now owns 25,030 shares of the basic materials company’s stock valued at $1,469,000 after acquiring an additional 24,995 shares during the last quarter. Bank of New York Mellon Corp raised its stake 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. Rhumbline Advisers lifted its holdings 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 acquiring an additional 1,245 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new stake in shares of Haynes International in the 2nd quarter worth approximately $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.