Haynes International (NASDAQ:HAYN) Upgraded by StockNews.com to “Hold” Rating

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 to clients and investors on Tuesday.

Haynes International Price Performance

NASDAQ HAYN opened at $60.99 on Tuesday. Haynes International has a 12 month low of $47.69 and a 12 month high of $61.01. The firm has a market capitalization of $779.45 million, a PE ratio of 20.96, a P/E/G ratio of 0.85 and a beta of 1.39. The company’s 50 day simple moving average is $60.03 and its 200 day simple moving average is $59.51. The company has a debt-to-equity ratio of 0.22, a current ratio of 7.74 and a quick ratio of 1.89.

Insider Buying and Selling

In other Haynes International news, CFO Daniel W. Maudlin sold 6,744 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $59.66, for a total value of $402,347.04. Following the completion of the sale, the chief financial officer now directly owns 30,287 shares of the company’s stock, valued at approximately $1,806,922.42. This represents a 18.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.10% of the stock is owned by corporate insiders.

Institutional Trading of Haynes International

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its position in Haynes International by 2.0% in the third quarter. Geode Capital Management LLC now owns 298,479 shares of the basic materials company’s stock worth $17,774,000 after buying an additional 5,767 shares during the last quarter. Anson Funds Management LP bought a new stake in shares of Haynes International during the 3rd quarter worth $1,445,000. BNP Paribas Financial Markets grew its holdings in shares of Haynes International by 8.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,775 shares of the basic materials company’s stock worth $165,000 after acquiring an additional 220 shares during the last quarter. Gabelli Funds LLC raised its position in shares of Haynes International by 29.5% during the second quarter. Gabelli Funds LLC now owns 179,371 shares of the basic materials company’s stock worth $10,529,000 after purchasing an additional 40,904 shares during the period. Finally, Cornercap Investment Counsel Inc. purchased a new stake in shares of Haynes International during the second quarter valued at $526,000. 97.31% of the stock is currently owned by institutional investors.

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.