Prudential Financial Inc. decreased its stake in Haynes International, Inc. (NASDAQ:HAYN) by 22.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,349 shares of the company’s stock after selling 8,000 shares during the period. Prudential Financial Inc. owned about 0.22% of Haynes International worth $1,015,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of HAYN. Deere & Co. acquired a new position in shares of Haynes International during the second quarter valued at approximately $297,000. Alliancebernstein L.P. increased its position in shares of Haynes International by 9.5% in the second quarter. Alliancebernstein L.P. now owns 10,374 shares of the company’s stock valued at $333,000 after buying an additional 900 shares in the last quarter. BlackRock Group LTD increased its position in shares of Haynes International by 6.8% in the second quarter. BlackRock Group LTD now owns 80,169 shares of the company’s stock valued at $2,572,000 after buying an additional 5,118 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of Haynes International by 4.5% in the second quarter. BlackRock Fund Advisors now owns 844,209 shares of the company’s stock valued at $27,082,000 after buying an additional 36,031 shares in the last quarter. Finally, BlackRock Investment Management LLC increased its position in shares of Haynes International by 7.9% in the second quarter. BlackRock Investment Management LLC now owns 79,608 shares of the company’s stock valued at $2,554,000 after buying an additional 5,800 shares in the last quarter. Institutional investors own 98.81% of the company’s stock.
Shares of Haynes International, Inc. (NASDAQ:HAYN) traded down 0.99% on Wednesday, hitting $42.04. The stock had a trading volume of 18,712 shares. Haynes International, Inc. has a 52 week low of $25.53 and a 52 week high of $48.37. The company has a market capitalization of $520.03 million, a price-to-earnings ratio of 105.10 and a beta of 1.69. The company has a 50-day moving average of $43.86 and a 200 day moving average of $39.13.
Haynes International (NASDAQ:HAYN) last posted its quarterly earnings results on Thursday, November 17th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by $0.03. Haynes International had a return on equity of 0.60% and a net margin of 1.24%. The firm had revenue of $107.50 million for the quarter. During the same quarter in the prior year, the business posted $0.46 earnings per share. The business’s revenue for the quarter was down 8.1% compared to the same quarter last year. On average, equities research analysts predict that Haynes International, Inc. will post $1.39 EPS for the current year.
Several brokerages have recently commented on HAYN. TheStreet upgraded Haynes International from a “hold” rating to a “buy” rating in a research note on Friday, December 2nd. Zacks Investment Research downgraded Haynes International from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 29th. Finally, J P Morgan Chase & Co downgraded Haynes International from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $47.00 to $39.00 in a research note on Wednesday, November 16th.
In related news, Director Timothy J. Mccarthy sold 1,632 shares of the company’s stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $44.00, for a total transaction of $71,808.00. Following the transaction, the director now directly owns 14,288 shares of the company’s stock, valued at approximately $628,672. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Donald C. Campion sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $45.05, for a total value of $90,100.00. Following the transaction, the director now directly owns 14,905 shares in the company, valued at $671,470.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,000 shares of company stock worth $267,252. 3.68% of the stock is owned by company insiders.
Haynes International Company Profile
Haynes International, Inc (Haynes) is a producer of nickel- and cobalt-based alloys in flat product forms, such as sheet, coil and plate forms. The Company also produces its products as seamless and welded tubulars, and in slab, bar, billet and wire forms. It focuses on developing, manufacturing, marketing and distributing alloys, which are sold in the aerospace, chemical processing and industrial gas turbine industries.
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