Haynes International (NASDAQ:HAYN) Sees Unusually-High Trading Volume

Haynes International, Inc. (NASDAQ:HAYN) shares saw strong trading volume on Tuesday . 238,871 shares changed hands during mid-day trading, an increase of 22% from the previous session’s volume of 195,168 shares.The stock last traded at $60.14 and had previously closed at $60.09.

Analysts Set New Price Targets

Several research analysts have weighed in on HAYN shares. Noble Financial lowered shares of Haynes International from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 6th. Northcoast Research reaffirmed a “neutral” rating on shares of Haynes International in a research report on Thursday, March 14th. Finally, StockNews.com began coverage on Haynes International in a report on Tuesday. They issued a “hold” rating on the stock.

Haynes International Stock Down 0.0 %

The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.69 and a current ratio of 7.62. The business’s 50 day moving average is $58.42 and its 200-day moving average is $52.29. The firm has a market capitalization of $768.59 million, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 0.72 and a beta of 1.43.

Haynes International (NASDAQ:HAYN) last posted 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 company had revenue of $147.36 million for the quarter, compared to analyst estimates 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 last year, the firm earned $0.61 EPS. Equities analysts anticipate that Haynes International, Inc. will post 4 EPS for the current fiscal year.

Haynes International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.22 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.88 dividend on an annualized basis and a yield of 1.46%. Haynes International’s payout ratio is 26.99%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. US Bancorp DE increased its position in Haynes International by 188.8% during the first quarter. US Bancorp DE now owns 777 shares of the basic materials company’s stock worth $33,000 after buying an additional 508 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of Haynes International by 77.8% during the 2nd quarter. Captrust Financial Advisors now owns 1,083 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 474 shares during the last quarter. Covestor Ltd increased its holdings in shares of Haynes International by 484.2% during the 3rd quarter. Covestor Ltd now owns 1,589 shares of the basic materials company’s stock worth $74,000 after acquiring an additional 1,317 shares during the last quarter. BNP Paribas Arbitrage SNC increased its holdings in shares of Haynes International by 11.1% in the third quarter. BNP Paribas Arbitrage SNC now owns 4,026 shares of the basic materials company’s stock valued at $141,000 after purchasing an additional 402 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in Haynes International by 6.0% in the 1st quarter. MetLife Investment Management LLC now owns 5,871 shares of the basic materials company’s stock valued at $250,000 after buying an additional 334 shares during the last quarter. 97.31% of the stock is currently owned by institutional investors and hedge funds.

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.