BidaskClub cut shares of Haynes International (NASDAQ:HAYN) from a hold rating to a sell rating in a report published on Thursday morning.

Several other analysts have also issued reports on the stock. KeyCorp reaffirmed a hold rating on shares of Haynes International in a research report on Friday, November 16th. Zacks Investment Research lowered shares of Haynes International from a hold rating to a strong sell rating in a research report on Wednesday, November 21st. Finally, ValuEngine lowered shares of Haynes International from a hold rating to a sell rating in a research report on Tuesday, March 12th.

NASDAQ HAYN opened at $32.06 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.35 and a current ratio of 5.98. Haynes International has a 1 year low of $24.46 and a 1 year high of $44.19. The firm has a market cap of $391.80 million, a price-to-earnings ratio of -458.00 and a beta of 1.80.

Haynes International (NASDAQ:HAYN) last posted its quarterly earnings results on Thursday, January 31st. The basic materials company reported ($0.13) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.13). Haynes International had a negative net margin of 0.18% and a positive return on equity of 0.02%. The firm had revenue of $107.07 million for the quarter, compared to analyst estimates of $104.63 million. Equities research analysts anticipate that Haynes International will post 1.39 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Thursday, February 28th. Haynes International’s payout ratio is presently -1,257.14%.

Institutional investors and hedge funds have recently modified their holdings of the company. Quantamental Technologies LLC bought a new position in shares of Haynes International in the fourth quarter valued at about $29,000. Municipal Employees Retirement System of Michigan bought a new position in shares of Haynes International in the fourth quarter valued at about $93,000. Metropolitan Life Insurance Co. NY raised its position in shares of Haynes International by 351.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,966 shares of the basic materials company’s stock valued at $105,000 after purchasing an additional 3,088 shares during the period. Oregon Public Employees Retirement Fund bought a new position in shares of Haynes International in the fourth quarter valued at about $126,000. Finally, GSA Capital Partners LLP bought a new position in shares of Haynes International in the third quarter valued at about $235,000. 99.22% 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, Asia, and internationally. The company offers high-temperature resistant alloys (HTA) and corrosion-resistant alloys (CRA). Its HTA products are used by manufacturers of equipment, including jet engines for the aerospace market; gas turbine engines for power generation and waste incineration; and industrial heating equipment.

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