Haynes International (NASDAQ:HAYN) Sees Strong Trading Volume

Haynes International, Inc. (NASDAQ:HAYN) shares saw an uptick in trading volume on Thursday . 268,492 shares changed hands during mid-day trading, an increase of 27% from the previous session’s volume of 211,013 shares.The stock last traded at $59.31 and had previously closed at $60.33.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HAYN. StockNews.com started coverage on shares of Haynes International in a research report on Saturday, April 27th. They issued a “hold” rating on the stock. Northcoast Research restated a “neutral” rating on shares of Haynes International in a report on Thursday, March 14th. Finally, Noble Financial downgraded shares of Haynes International from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 6th.

Haynes International Stock Down 1.2 %

The company has a market capitalization of $761.43 million, a P/E ratio of 18.51, a PEG ratio of 0.75 and a beta of 1.42. The firm’s 50 day moving average price is $60.01 and its two-hundred day moving average price is $54.71. The company has a current ratio of 7.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.26.

Haynes International (NASDAQ:HAYN) last issued its quarterly earnings results on Friday, February 9th. The basic materials company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.10). The business had revenue of $147.36 million for the quarter, compared to the consensus estimate of $151.94 million. Haynes International had a return on equity of 9.89% and a net margin of 6.94%. During the same period in the prior year, the business earned $0.61 earnings per share. Equities research analysts forecast that Haynes International, Inc. will post 3.83 EPS for the current year.

Haynes International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.88 annualized dividend and a dividend yield of 1.48%. Haynes International’s dividend payout ratio is currently 26.99%.

Hedge Funds Weigh In On Haynes International

Hedge funds have recently made changes to their positions in the business. Diamond Hill Capital Management Inc. bought a new position in shares of Haynes International in the third quarter valued at $1,698,000. Russell Investments Group Ltd. grew its stake in shares of Haynes International by 352.9% in the fourth 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. Foundry Partners LLC grew its stake in shares of Haynes International by 10.1% in the third quarter. Foundry Partners LLC now owns 102,925 shares of the basic materials company’s stock valued at $4,788,000 after buying an additional 9,435 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Haynes International by 67.1% in the first 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. Finally, Covestor Ltd grew its stake in shares of Haynes International by 484.2% in the third quarter. Covestor Ltd now owns 1,589 shares of the basic materials company’s stock valued at $74,000 after buying an additional 1,317 shares in the last quarter. 97.31% of the stock is owned by institutional investors.

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.