Will Haynes International (HAYN) be Able to Generate Strong Growth?
Diamond Hill Capital, an investment management company, released its “Small Cap Fund” third-quarter 2023 investor letter. A copy of the same can be downloaded here. During Q3 2023, US stocks fell by 3%, bringing YTD gains to around 12% as measured by the Russell 3000 Index. The portfolio trailed the Russell 2000 Index in Q3 and returned -5.62% bringing the YTD returns to 6.70%. Relative weakness in consumer discretionary holdings, industrials, and technology impacted the performance in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Diamond Hill Small Cap Fund highlighted stocks like Haynes International, Inc. (NASDAQ:HAYN) in the third quarter 2023 investor letter. Headquartered in Kokomo, Indiana, Haynes International, Inc. (NASDAQ:HAYN) engages in the manufacturing, marketing, and distribution of nickel and cobalt-based alloys in sheet, coil, and plate forms. On November 8, 2023, Haynes International, Inc. (NASDAQ:HAYN) stock closed at $46.16 per share. One-month return of Haynes International, Inc. (NASDAQ:HAYN) was -1.28%, and its shares lost 11.25% of their value over the last 52 weeks. Haynes International, Inc. (NASDAQ:HAYN) has a market capitalization of $598.183 million.
Diamond Hill Small Cap Fund made the following comment about Haynes International, Inc. (NASDAQ:HAYN) in its Q3 2023 investor letter:
"Haynes International, Inc. (NASDAQ:HAYN) develops and manufactures high-performance super-alloys. Nickel- and cobalt-based alloys play a critical role in high-heat applications, including jet engines, and highly corrosive environments, such as chemical processing. Haynes’ business is poised to capitalize on a beneficial global aerospace market which is generating strong growth."
A close-up of a precious metal being alloyed into a specialty metal product.
Haynes International, Inc. (NASDAQ:HAYN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 10 hedge fund portfolios held Haynes International, Inc. (NASDAQ:HAYN) at the end of second quarter which was 9 in the previous quarter.
We discussed Haynes International, Inc. (NASDAQ:HAYN) in another article and shared the list of best small-cap nickel stocks to buy. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
