Haynes International (NASDAQ:HAYN) Stock Passes Above 200 Day Moving Average – Should You Sell?

Haynes International, Inc. (NASDAQ:HAYN) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $59.47 and traded as high as $59.59. Haynes International shares last traded at $59.50, with a volume of 83,702 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Haynes International in a research note on Friday. They issued a “hold” rating on the stock.

Haynes International Stock Performance

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 firm has a market cap of $760.59 million, a P/E ratio of 20.10, a P/E/G ratio of 1.10 and a beta of 1.40. The business’s 50-day simple moving average is $59.58 and its 200 day simple moving average is $59.47.

Haynes International (NASDAQ:HAYN) last posted its earnings results on Thursday, August 1st. The basic materials company reported $0.63 EPS 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 company had revenue of $153.92 million during the quarter, compared to the consensus estimate of $159.35 million. As a group, equities analysts predict that Haynes International, Inc. will post 2.55 earnings per share for the current year.

Haynes International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend was Friday, August 30th. Haynes International’s dividend payout ratio (DPR) is presently 29.73%.

Insider Buying and Selling

In other news, CFO Daniel W. Maudlin sold 6,744 shares of the business’s stock in a transaction 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 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 SEC, which is available at this hyperlink. 6.10% of the stock is currently owned by insiders.

Institutional Trading of Haynes International

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC boosted its holdings in Haynes International by 1,035.8% in the 2nd quarter. SG Americas Securities LLC now owns 21,501 shares of the basic materials company’s stock worth $1,262,000 after buying an additional 19,608 shares during the period. Gabelli Funds LLC bought a new position in shares of Haynes International in the first quarter worth about $8,325,000. Cornercap Investment Counsel Inc. purchased a new stake in shares of Haynes International during the second quarter worth about $526,000. Nisa Investment Advisors LLC raised its stake in Haynes International by 71,414.3% during the 2nd 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 period. Finally, Russell Investments Group Ltd. lifted its holdings in 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 worth $1,915,000 after purchasing an additional 4,605 shares in the last quarter. 97.31% of the stock is owned by hedge funds and other institutional investors.

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.