Retirement Fund Sells Haynes International Stock

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The company manufactures high-performance alloys, primarily for the aerospace industry. The Oregon Public Employees Retirement Fund recently announced that it has sold its stock position in Haynes International ($NASDAQ:HAYN). The sale was in response to the company’s underperformance and OPERF’s concerns about the company’s future prospects. Haynes International has been struggling in recent years, with declining sales and profitability.

The company has been facing headwinds in the form of increased competition, higher raw material costs, and a challenging aerospace market. OPERF’s decision to sell its stock position in Haynes International reflects the fund’s concerns about the company’s ability to generate long-term shareholder value. While Haynes International has a strong history, the company’s challenges are significant and may prove difficult to overcome.

Price History

On Tuesday, the retirement fund announced that it had sold its Haynes International stock. The stock opened at $44.1 and closed at $45.3, up by 2.1% from its previous closing price of $44.3. The fund did not disclose the reason for the sale, but analysts believe that it may be due to the recent decline in the company’s stock price.

VI Analysis

Based on the company’s fundamentals, VI App has determined that HAYNES INTERNATIONAL is a low risk investment in terms of financial and business aspects. The company’s income sheet and balance sheet show some risk warnings, but overall the company is in good financial health. Register on VI App to get more detailed insights into the company’s financial health.

VI Peers

The company’s alloys are used in a variety of industries, including aerospace, chemical processing, and power generation. Haynes International‘s main competitors are Allegheny Technologies Inc, Thermodynetics Inc, HydrogenPro AS.

– Allegheny Technologies Inc ($NYSE:ATI)

Allegheny Technologies Inc is a specialty metals company with a market cap of 3.88B as of 2022. They have a Return on Equity of 13.59%. The company produces and sells a variety of specialty metals and alloys, including stainless steel, titanium, and nickel-based alloys. They serve a wide range of industries, including aerospace, chemical processing, oil and gas, and power generation.

– Thermodynetics Inc ($OTCPK:TDYT)

Thermodynetics Inc is a company that manufactures and sells heat exchangers and related products. The company has a market capitalization of 97.5 million and a return on equity of 831.89%. The company’s products are used in a variety of industries, including automotive, aerospace, and chemical processing. Thermodynetics has a strong market presence and is a leading supplier of heat exchangers in North America. The company’s products are backed by a team of experienced engineers and a quality management system that is ISO 9001:2008 certified.

– HydrogenPro AS ($OTCPK:HYPRF)

Hydrogen Pro AS has a market cap of 186.33M as of 2022. It is a Return on Equity of -9.52%. The company produces hydrogen fuel cells and related technologies. Its products are used in a variety of applications, including transportation, stationary power, and portable power.

Summary

Haynes International is a global leader in the development, manufacture, and marketing of high-performance alloys. The company’s products are used in a variety of industries, including aerospace, chemical processing, oil and gas, power generation, and transportation. Haynes International has a long history of providing innovative solutions to the challenges faced by its customers. The company’s share price has been volatile in recent years, but it remains a solid investment for those looking for exposure to the high-performance alloys industry.