StockNews.com Begins Coverage on Haynes International (NASDAQ:HAYN)

StockNews.com began coverage on shares of Haynes International (NASDAQ:HAYN) in a research note issued on Saturday. The brokerage set a “hold” rating on the basic materials company’s stock.

Haynes International Price Performance

HAYN opened at $60.99 on Friday. Haynes International has a 12-month low of $47.69 and a 12-month high of $61.01. The company has a quick ratio of 1.89, a current ratio of 7.74 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $779.45 million, a P/E ratio of 20.96, a PEG ratio of 0.85 and a beta of 1.39. The stock has a fifty day moving average of $60.78 and a 200-day moving average of $59.85.

Institutional Investors Weigh In On Haynes International

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its position in Haynes International by 8.6% in the third 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 in the last quarter. Cornercap Investment Counsel Inc. bought a new stake in shares of Haynes International during the 2nd quarter worth about $526,000. Anson Funds Management LP acquired a new position in shares of Haynes International during the 3rd quarter valued at about $1,445,000. Rhumbline Advisers raised its stake 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 valued at $2,347,000 after acquiring an additional 1,245 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in 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 purchasing an additional 4,153 shares during the period. 97.31% of the stock is 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.