Haynes International, Inc. (NASDAQ:HAYN) Sees Significant Growth in Short Interest

Haynes International, Inc. (NASDAQ:HAYN) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 619,800 shares, a growth of 55.6% from the October 15th total of 398,300 shares. Currently, 5.0% of the company’s stock are sold short. Based on an average daily volume of 119,300 shares, the short-interest ratio is presently 5.2 days.

Insider Transactions at Haynes International

In other Haynes International news, CFO Daniel W. Maudlin sold 6,744 shares of Haynes International stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $59.66, for a total transaction of $402,347.04. Following the completion of the sale, the chief financial officer now directly owns 30,287 shares in the company, valued at approximately $1,806,922.42. The trade was a 18.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Haynes International

Several institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in shares of Haynes International in the first quarter worth about $114,000. BNP Paribas Financial Markets boosted its position in shares of Haynes International by 8.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,775 shares of the basic materials company’s stock valued at $165,000 after purchasing an additional 220 shares during the period. Cornercap Investment Counsel Inc. acquired a new stake in Haynes International during the 2nd quarter worth about $526,000. Nisa Investment Advisors LLC boosted its position in Haynes International by 71,414.3% during the second quarter. Nisa Investment Advisors LLC now owns 25,030 shares of the basic materials company’s stock valued at $1,469,000 after purchasing an additional 24,995 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in Haynes International by 16.9% during the first quarter. Russell Investments Group Ltd. now owns 31,845 shares of the basic materials company’s stock valued at $1,915,000 after acquiring an additional 4,605 shares in the last quarter. 97.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Haynes International in a research note on Saturday, October 12th. They issued a “hold” rating on the stock.

Haynes International Stock Down 0.1 %

Shares of Haynes International stock traded down $0.08 during trading hours on Thursday, reaching $60.62. 273,388 shares of the company were exchanged, compared to its average volume of 156,521. Haynes International has a 1 year low of $47.69 and a 1 year high of $60.86. The firm has a market cap of $774.72 million, a PE ratio of 20.83, a PEG ratio of 0.74 and a beta of 1.39. 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 stock’s fifty day moving average is $59.81 and its 200 day moving average is $59.45.

Haynes International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Friday, August 30th. Haynes International’s dividend payout ratio is currently 30.24%.

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.