Haynes International (NASDAQ:HAYN) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Shares of Haynes International, Inc. (NASDAQ:HAYN) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $59.43 and traded as high as $60.57. Haynes International shares last traded at $60.36, with a volume of 315,001 shares.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Haynes International in a report on Saturday, October 12th. They issued a “hold” rating for the company.

Haynes International Price Performance

The firm has a market cap of $771.70 million, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 0.67 and a beta of 1.39. The company has a debt-to-equity ratio of 0.22, a current ratio of 7.74 and a quick ratio of 1.89. The firm’s 50 day moving average is $59.69 and its 200 day moving average is $59.43.

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

Haynes International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Friday, August 30th. Haynes International’s payout ratio is 30.24%.

Insider Buying and Selling at Haynes International

In other news, CFO Daniel W. Maudlin sold 6,744 shares of the 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 sale, the chief financial officer now owns 30,287 shares in the company, valued at $1,806,922.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 6.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC purchased a new stake in Haynes International during the 1st quarter valued at $114,000. BNP Paribas Financial Markets lifted its position in Haynes International by 67.1% during the first quarter. BNP Paribas Financial Markets now owns 6,233 shares of the basic materials company’s stock valued at $375,000 after purchasing an additional 2,504 shares during the last quarter. Cornercap Investment Counsel Inc. purchased a new position in shares of Haynes International in the 2nd quarter worth $526,000. Nisa Investment Advisors LLC increased its holdings in shares of Haynes International by 71,414.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 25,030 shares of the basic materials company’s stock worth $1,469,000 after buying an additional 24,995 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Haynes International by 16.9% during 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 in the last quarter. 97.31% of the stock is owned by 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.