Haynes International (NASDAQ:HAYN) Sees Large Volume Increase – Time to Buy?

Shares of Haynes International, Inc. (NASDAQ:HAYN) saw unusually-high trading volume on Friday . Approximately 127,952 shares were traded during mid-day trading, a decline of 18% from the previous session’s volume of 156,601 shares.The stock last traded at $60.96 and had previously closed at $60.62.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Haynes International in a report on Saturday, October 12th. They issued a “hold” rating for the company.

Haynes International Trading Up 0.5 %

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.89 and a current ratio of 7.74. The firm has a market cap of $778.69 million, a PE ratio of 20.95, a price-to-earnings-growth ratio of 0.74 and a beta of 1.39. The stock has a 50-day simple moving average of $59.81 and a two-hundred day simple moving average of $59.45.

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 issued 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 1.44%. Haynes International’s payout ratio is 30.24%.

Insider Activity at Haynes International

In related news, CFO Daniel W. Maudlin sold 6,744 shares of the company’s stock in a transaction on 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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Haynes International in the 1st quarter worth approximately $114,000. BNP Paribas Financial Markets increased its holdings in Haynes International by 8.6% during the third quarter. BNP Paribas Financial Markets now owns 2,775 shares of the basic materials company’s stock valued at $165,000 after buying an additional 220 shares during the last quarter. Cornercap Investment Counsel Inc. bought a new position in Haynes International in the second quarter worth approximately $526,000. Nisa Investment Advisors LLC boosted its stake in shares of Haynes International by 71,414.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 25,030 shares of the basic materials company’s stock worth $1,469,000 after acquiring an additional 24,995 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake 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 worth $1,915,000 after acquiring an additional 4,605 shares during the last quarter. 97.31% of the stock is owned by hedge funds and other 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.