Haynes International (NASDAQ:HAYN) Sees Large Volume Increase – What’s Next?

Haynes International, Inc. (NASDAQ:HAYN) shares saw unusually-high trading volume on Wednesday . Approximately 191,599 shares were traded during mid-day trading, an increase of 27% from the previous session’s volume of 150,761 shares.The stock last traded at $59.80 and had previously closed at $59.73.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Haynes International in a research report on Saturday. They set a “hold” rating for the company.

Haynes International Price Performance

The firm has a market cap of $763.91 million, a price-to-earnings ratio of 20.20, a P/E/G ratio of 0.66 and a beta of 1.39. The company has a current ratio of 7.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.22. The business’s 50-day simple moving average is $59.59 and its two-hundred day simple moving average is $59.45.

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

Haynes International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $0.22 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.88 annualized dividend and a dividend yield of 1.47%. Haynes International’s dividend payout ratio is currently 29.73%.

Insider Buying and Selling

In other Haynes International news, CFO Daniel W. Maudlin sold 6,744 shares of Haynes International stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $59.66, for a total value of $402,347.04. Following the completion of 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.10% of the stock is owned by insiders.

Institutional Trading of Haynes International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gabelli Funds LLC boosted its position in shares of Haynes International by 29.5% during the second quarter. Gabelli Funds LLC now owns 179,371 shares of the basic materials company’s stock valued at $10,529,000 after buying an additional 40,904 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Haynes International by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 160,923 shares of the basic materials company’s stock worth $9,446,000 after acquiring an additional 4,153 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of Haynes International in the 1st quarter worth $7,070,000. Rhumbline Advisers raised its holdings in shares of Haynes International by 3.2% in the second quarter. Rhumbline Advisers now owns 39,983 shares of the basic materials company’s stock valued at $2,347,000 after purchasing an additional 1,245 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of 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 purchasing an additional 4,605 shares in the last quarter. 97.31% of the stock is owned by institutional investors.

About Haynes International

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.