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

Shares of Haynes International, Inc. (NASDAQ:HAYN) saw an uptick in trading volume on Friday . 127,952 shares changed hands during mid-day trading, a decline of 18% from the previous session’s volume of 156,601 shares.The stock last traded at $60.96 and had previously closed at $60.62.

Analysts Set New Price Targets

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

Haynes International Price Performance

The company’s 50 day moving average price is $59.84 and its 200 day moving average price is $59.45. 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 company has a market cap of $778.99 million, a price-to-earnings ratio of 20.94, a P/E/G ratio of 0.74 and a beta of 1.39.

Haynes International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $0.22 per share. The ex-dividend date was Friday, August 30th. This represents a $0.88 annualized dividend and a yield of 1.44%. Haynes International’s dividend payout ratio is 30.24%.

Insider Transactions at Haynes International

In related news, CFO Daniel W. Maudlin sold 6,744 shares of the stock in a transaction that occurred on 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 in the company, valued at $1,806,922.42. This represents a 18.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Haynes International

A number of institutional investors and hedge funds have recently bought and sold shares of HAYN. SG Americas Securities LLC raised its holdings in shares of Haynes International by 1,035.8% in the second quarter. SG Americas Securities LLC now owns 21,501 shares of the basic materials company’s stock valued at $1,262,000 after buying an additional 19,608 shares during the last quarter. Gabelli Funds LLC acquired a new position in shares of Haynes International during the first quarter worth approximately $8,325,000. Cornercap Investment Counsel Inc. acquired a new stake in shares of Haynes International in the second quarter valued at approximately $526,000. Nisa Investment Advisors LLC increased its holdings in shares of Haynes International by 71,414.3% in 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 in the last quarter. Finally, Russell Investments Group Ltd. raised its position 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 during the last quarter. Institutional investors and hedge funds own 97.31% of the company’s stock.

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.