Short Interest in Haynes International, Inc. (NASDAQ:HAYN) Grows By 30.5%

Haynes International, Inc. (NASDAQ:HAYN) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 618,100 shares, an increase of 30.5% from the August 15th total of 473,700 shares. Based on an average daily trading volume, of 91,300 shares, the short-interest ratio is currently 6.8 days. Currently, 5.0% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Haynes International in a research note on Tuesday, September 10th. They set a “hold” rating on the stock.

Insider Transactions at Haynes International

In other Haynes International news, CFO Daniel W. Maudlin sold 6,744 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $59.66, for a total transaction of $402,347.04. Following the sale, the chief financial officer now directly owns 30,287 shares of the company’s stock, valued at approximately $1,806,922.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.10% of the company’s stock.

Institutional Trading of Haynes International

Hedge funds have recently made changes to their positions in the company. Rhumbline Advisers increased its stake in shares of Haynes International by 3.2% during the second quarter. Rhumbline Advisers now owns 39,983 shares of the basic materials company’s stock worth $2,347,000 after acquiring an additional 1,245 shares during the period. SG Americas Securities LLC purchased a new stake in Haynes International in the 1st quarter valued at approximately $114,000. BNP Paribas Financial Markets increased its position in Haynes International by 67.1% during the 1st quarter. BNP Paribas Financial Markets now owns 6,233 shares of the basic materials company’s stock worth $375,000 after purchasing an additional 2,504 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Haynes International by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 160,923 shares of the basic materials company’s stock valued at $9,446,000 after buying an additional 4,153 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Haynes International by 16.9% in the 1st quarter. Russell Investments Group Ltd. now owns 31,845 shares of the basic materials company’s stock valued at $1,915,000 after buying an additional 4,605 shares during the period. Institutional investors and hedge funds own 97.31% of the company’s stock.

Haynes International Stock Down 1.2 %

Shares of NASDAQ:HAYN traded down $0.73 during trading on Monday, hitting $58.67. The company’s stock had a trading volume of 75,375 shares, compared to its average volume of 155,672. Haynes International has a fifty-two week low of $41.15 and a fifty-two week high of $60.86. The company has a market capitalization of $749.98 million, a PE ratio of 19.82, a P/E/G ratio of 1.11 and a beta of 1.40. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.89 and a current ratio of 7.74. The business has a 50 day moving average price of $59.64 and a two-hundred day moving average price of $59.50.

Haynes International (NASDAQ:HAYN) last posted its earnings results on Thursday, August 1st. The basic materials company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.33). The firm had revenue of $153.92 million during the quarter, compared to analysts’ expectations of $159.35 million. Haynes International had a net margin of 6.11% and a return on equity of 8.45%. As a group, research analysts expect that Haynes International will post 2.55 EPS for the current fiscal year.

Haynes International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Friday, August 30th. Haynes International’s dividend payout ratio is presently 29.73%.

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.