Haynes International, Inc. (NASDAQ:HAYN) Short Interest Up 30.5% in August

Haynes International, Inc. (NASDAQ:HAYN) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 618,100 shares, a growth of 30.5% from the August 15th total of 473,700 shares. Approximately 5.0% of the company’s shares are sold short. Based on an average trading volume of 91,300 shares, the short-interest ratio is currently 6.8 days.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Haynes International in a report on Tuesday, September 10th. They issued a “hold” rating on the stock.

Haynes International Trading Down 1.2 %

Shares of HAYN traded down $0.73 during trading hours on Monday, hitting $58.67. 75,375 shares of the stock were exchanged, compared to its average volume of 155,672. Haynes International has a fifty-two week low of $41.15 and a fifty-two week high of $60.86. The business has a 50-day moving average of $59.64 and a 200-day moving average of $59.50. The firm has a market capitalization of $749.98 million, a P/E ratio of 19.82, a price-to-earnings-growth ratio of 1.11 and a beta of 1.40. The company has a debt-to-equity ratio of 0.22, a current ratio of 7.74 and a quick ratio of 1.89.

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

Haynes International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.88 dividend on an annualized basis and a yield of 1.50%. Haynes International’s payout ratio is currently 29.73%.

Insider Activity

In related news, CFO Daniel W. Maudlin sold 6,744 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $59.66, for a total value of $402,347.04. Following the sale, the chief financial officer now owns 30,287 shares of the company’s stock, valued at $1,806,922.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 modified their holdings of the business. SG Americas Securities LLC bought a new stake in shares of Haynes International in the 1st quarter valued at $114,000. BNP Paribas Financial Markets raised its holdings in shares of 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 period. Cornercap Investment Counsel Inc. bought a new position in shares of Haynes International during the 2nd quarter worth about $526,000. Nisa Investment Advisors LLC grew its stake 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 valued at $1,469,000 after buying an additional 24,995 shares during the period. Finally, Russell Investments Group Ltd. increased its position in Haynes International by 352.9% in the 4th quarter. Russell Investments Group Ltd. now owns 27,240 shares of the basic materials company’s stock valued at $1,554,000 after buying an additional 21,225 shares in the last quarter. 97.31% of the stock is currently 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.