Haynes International (NASDAQ:HAYN) Reaches New 52-Week High – Still a Buy?

Haynes International, Inc. (NASDAQ:HAYN) reached a new 52-week high on Wednesday . The company traded as high as $60.86 and last traded at $60.71, with a volume of 174342 shares trading hands. The stock had previously closed at $60.60.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Haynes International in a research note on Saturday, October 12th. They issued a “hold” rating on the stock.

Haynes International Price Performance

The stock has a market cap of $775.75 million, a PE ratio of 20.84, a P/E/G ratio of 0.74 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 company has a fifty day moving average of $59.77 and a 200-day moving average of $59.43.

Haynes International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a dividend of $0.22 per share. The ex-dividend date was Friday, August 30th. This represents a $0.88 annualized dividend and a dividend yield of 1.45%. Haynes International’s dividend payout ratio is currently 30.24%.

Insider Transactions at Haynes International

In other news, CFO Daniel W. Maudlin sold 6,744 shares of the company’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 directly owns 30,287 shares of the company’s stock, valued at approximately $1,806,922.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HAYN. BNP Paribas Financial Markets boosted its position in shares of Haynes International by 8.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,775 shares of the basic materials company’s stock valued at $165,000 after purchasing an additional 220 shares during the period. Gabelli Funds LLC boosted its position in shares of Haynes International by 29.5% in the 2nd quarter. Gabelli Funds LLC now owns 179,371 shares of the basic materials company’s stock valued at $10,529,000 after purchasing an additional 40,904 shares during the period. Cornercap Investment Counsel Inc. acquired a new stake in shares of Haynes International in the 2nd quarter valued at about $526,000. Rhumbline Advisers boosted its position in shares of Haynes International by 3.2% in the 2nd 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 period. Finally, Bank of New York Mellon Corp raised its stake in shares of Haynes International by 2.6% during the second 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. 97.31% of the stock is owned by institutional investors and hedge funds.

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.