Haynes International (NASDAQ:HAYN) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Haynes International (NASDAQ:HAYN - Free Report) from a sell rating to a hold rating in a research report released on Tuesday.

Haynes International Price Performance

NASDAQ:HAYN remained flat at $60.99 during midday trading on Tuesday. The business's 50 day moving average price is $60.03 and its 200-day moving average price is $59.51. Haynes International has a 1-year low of $47.69 and a 1-year high of $61.01. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.89 and a current ratio of 7.74. The firm has a market capitalization of $779.45 million, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 0.85 and a beta of 1.39.

Haynes International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors 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 dividend on an annualized basis and a yield of 1.44%. Haynes International's dividend payout ratio (DPR) is 30.24%.

Insiders Place Their Bets

In other Haynes International news, CFO Daniel W. Maudlin sold 6,744 shares of the business'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 directly owns 30,287 shares in the company, valued at approximately $1,806,922.42. The trade was a 18.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.10% of the company's stock.

Institutional Investors Weigh In On Haynes International

Several institutional investors have recently made changes to their positions in HAYN. SG Americas Securities LLC raised its stake in shares of Haynes International by 1,035.8% during the 2nd quarter. SG Americas Securities LLC now owns 21,501 shares of the basic materials company's stock worth $1,262,000 after buying an additional 19,608 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Haynes International by 71,414.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 25,030 shares of the basic materials company's stock valued at $1,469,000 after purchasing an additional 24,995 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Haynes International by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 160,923 shares of the basic materials company's stock valued at $9,446,000 after purchasing an additional 4,153 shares during the last quarter. Rhumbline Advisers raised its stake in Haynes International by 3.2% in the 2nd quarter. Rhumbline Advisers now owns 39,983 shares of the basic materials company's stock valued at $2,347,000 after purchasing an additional 1,245 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. acquired a new position in shares of Haynes International during the 2nd quarter valued at about $526,000. 97.31% of the stock is currently owned by hedge funds and other institutional investors.

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.