Haynes International (NASDAQ:HAYN) Share Price Crosses Above 50 Day Moving Average of $31.07

Haynes International, Inc. (NASDAQ:HAYN) shares crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $31.07 and traded as high as $31.71. Haynes International shares last traded at $31.31, with a volume of 1,114 shares changing hands.

A number of equities research analysts have issued reports on HAYN shares. Zacks Investment Research raised shares of Haynes International from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. ValuEngine raised shares of Haynes International from a “sell” rating to a “hold” rating in a report on Monday, March 25th. Finally, BidaskClub raised shares of Haynes International from a “sell” rating to a “hold” rating in a report on Friday, March 22nd.

The company has a debt-to-equity ratio of 0.03, a current ratio of 5.57 and a quick ratio of 1.48. The business’s fifty day moving average is $31.03. The company has a market capitalization of $395.49 million, a price-to-earnings ratio of -454.43 and a beta of 1.72.

Haynes International (NASDAQ:HAYN) last announced its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.11). Haynes International had a net margin of 0.58% and a return on equity of 1.12%. The company had revenue of $127.47 million for the quarter, compared to analysts’ expectations of $119.64 million. During the same period last year, the business earned ($0.17) earnings per share. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. Sell-side analysts anticipate that Haynes International, Inc. will post 0.98 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a dividend of $0.22 per share. The ex-dividend date was Thursday, May 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.77%. Haynes International’s dividend payout ratio is currently -1,257.14%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Haynes International by 3.0% during the 4th quarter. BlackRock Inc. now owns 1,881,736 shares of the basic materials company’s stock valued at $49,681,000 after acquiring an additional 54,403 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Haynes International by 3.8% during the 1st quarter. Bank of Montreal Can now owns 219,451 shares of the basic materials company’s stock valued at $7,204,000 after acquiring an additional 8,005 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Haynes International by 8.8% during the 4th quarter. Geode Capital Management LLC now owns 138,845 shares of the basic materials company’s stock valued at $3,665,000 after acquiring an additional 11,286 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Haynes International by 0.5% during the 4th quarter. Principal Financial Group Inc. now owns 101,516 shares of the basic materials company’s stock valued at $2,680,000 after acquiring an additional 514 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Haynes International by 16.2% during the 1st quarter. Victory Capital Management Inc. now owns 49,600 shares of the basic materials company’s stock valued at $1,628,000 after acquiring an additional 6,900 shares during the last quarter. Hedge funds and other institutional investors own 98.09% of the company’s stock.

About Haynes International (NASDAQ:HAYN)

Haynes International, Inc engages in the development, manufacture, and marketing of nickel-and cobalt-based alloys used in corrosion and high-temperature applications. It supports a range of industries such as aerospace, chemical processing, and industrial gas turbine. The company was founded by Elwood P.

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