Haynes International (NASDAQ:HAYN) Hits New 12-Month High – Should You Buy?

Haynes International, Inc. (NASDAQ:HAYN)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $60.96 and last traded at $60.96, with a volume of 12318 shares. The stock had previously closed at $60.93.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Haynes International from a “hold” rating to a “sell” rating in a report on Monday.

Haynes International Stock Up 0.0 %

The company has a quick ratio of 1.89, a current ratio of 7.74 and a debt-to-equity ratio of 0.22. The firm has a fifty day simple moving average of $59.92 and a 200-day simple moving average of $59.48. The company has a market capitalization of $779.76 million, a P/E ratio of 20.96, a P/E/G ratio of 0.85 and a beta of 1.39.

Haynes International Dividend Announcement

The business 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. This represents a $0.88 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Friday, August 30th. Haynes International’s dividend payout ratio is 30.24%.

Insider Activity at Haynes International

In related news, CFO Daniel W. Maudlin sold 6,744 shares of the 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 transaction, the chief financial officer now owns 30,287 shares in the company, valued at approximately $1,806,922.42. This represents a 18.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Haynes International

Several hedge funds have recently modified their holdings of HAYN. Geode Capital Management LLC grew its stake in shares of Haynes International by 2.0% in the third quarter. Geode Capital Management LLC now owns 298,479 shares of the basic materials company’s stock valued at $17,774,000 after buying an additional 5,767 shares in the last quarter. Anson Funds Management LP bought a new stake in shares of Haynes International during the third quarter worth approximately $1,445,000. BNP Paribas Financial Markets boosted its stake in 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 grew its stake in shares of Haynes International by 29.5% in the second quarter. Gabelli Funds LLC now owns 179,371 shares of the basic materials company’s stock valued at $10,529,000 after acquiring an additional 40,904 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. acquired a new position in shares of Haynes International during the 2nd quarter worth approximately $526,000. Institutional investors own 97.31% of the company’s stock.

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.