Haynes International (NASDAQ:HAYN) Sees Unusually-High Trading Volume – Here’s Why

Haynes International, Inc. (NASDAQ:HAYN) saw unusually-strong trading volume on Wednesday . Approximately 191,599 shares were traded during 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 report on Saturday, October 12th. They set a “hold” rating for the company.

Haynes International Stock Performance

The company has a market capitalization of $766.60 million, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 0.66 and a beta of 1.39. The company’s fifty day simple moving average is $59.60 and its two-hundred day simple moving average 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.

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

Haynes International Announces Dividend

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

Insiders Place Their Bets

In related news, CFO Daniel W. Maudlin sold 6,744 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $59.66, for a total transaction of $402,347.04. Following the completion of the transaction, the chief financial officer now owns 30,287 shares of the company’s stock, valued at $1,806,922.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Haynes International

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Rhumbline Advisers grew its holdings in shares of Haynes International by 3.2% during the second quarter. Rhumbline Advisers now owns 39,983 shares of the basic materials company’s stock valued at $2,347,000 after buying an additional 1,245 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Haynes International during the 1st quarter valued at about $114,000. BNP Paribas Financial Markets grew its stake in shares of Haynes International by 67.1% in the 1st quarter. BNP Paribas Financial Markets now owns 6,233 shares of the basic materials company’s stock valued at $375,000 after buying an additional 2,504 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of 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 purchasing an additional 4,153 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings 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 purchasing an additional 4,605 shares in the last quarter. 97.31% of the stock is owned by institutional investors and hedge funds.

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.