Haynes International (NASDAQ:HAYN) Downgraded to Market Perform at Noble Financial

Noble Financial lowered shares of Haynes International (NASDAQ:HAYNFree Report) from an outperform rating to a market perform rating in a research report sent to investors on Tuesday, MarketBeat.com reports.

Haynes International Trading Down 0.6 %

HAYN opened at $59.65 on Tuesday. Haynes International has a 12 month low of $41.15 and a 12 month high of $60.85. The stock has a market capitalization of $762.33 million, a price-to-earnings ratio of 18.30, a PEG ratio of 0.68 and a beta of 1.43. The company has a debt-to-equity ratio of 0.28, a current ratio of 7.02 and a quick ratio of 1.63. The business has a fifty day moving average price of $53.88 and a 200 day moving average price of $49.61.

Haynes International (NASDAQ:HAYNGet Free Report) last announced its quarterly earnings results on Monday, February 5th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.10). The business had revenue of $147.36 million for the quarter, compared to analysts’ expectations of $151.94 million. Haynes International had a return on equity of 10.04% and a net margin of 6.94%. During the same period last year, the firm earned $0.61 earnings per share. Sell-side analysts expect that Haynes International will post 4.23 earnings per share for the current fiscal year.

Haynes International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Thursday, February 29th. Haynes International’s dividend payout ratio (DPR) is 26.99%.

Institutional Trading of Haynes International

A number of institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its holdings in Haynes International by 352.9% during the 4th quarter. Russell Investments Group Ltd. now owns 27,240 shares of the basic materials company’s stock worth $1,554,000 after buying an additional 21,225 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Haynes International by 2.4% in the 4th quarter. New York State Teachers Retirement System now owns 26,061 shares of the basic materials company’s stock valued at $1,487,000 after purchasing an additional 600 shares during the last quarter. Tudor Investment Corp Et Al lifted its holdings in shares of Haynes International by 132.5% in the 3rd quarter. Tudor Investment Corp Et Al now owns 24,380 shares of the basic materials company’s stock valued at $1,134,000 after purchasing an additional 13,893 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Haynes International by 484.2% in 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 during the last quarter. Finally, Foundry Partners LLC lifted its holdings in shares of Haynes International by 10.1% in the 3rd quarter. Foundry Partners LLC now owns 102,925 shares of the basic materials company’s stock valued at $4,788,000 after purchasing an additional 9,435 shares during the last quarter. 97.11% of the stock is owned by hedge funds and other institutional investors.

About Haynes International

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for Haynes International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Haynes International and related companies with MarketBeat.com's FREE daily email newsletter.