Short Interest in Haynes International, Inc. (NASDAQ:HAYN) Increases By 5.3%

Haynes International, Inc. (NASDAQ:HAYN) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 215,800 shares, a growth of 5.3% from the March 15th total of 205,000 shares. Based on an average daily trading volume, of 211,100 shares, the days-to-cover ratio is presently 1.0 days. Currently, 1.7% of the shares of the company are short sold.

Haynes International Price Performance

NASDAQ HAYN traded down $0.09 on Wednesday, reaching $60.44. The company had a trading volume of 168,220 shares, compared to its average volume of 208,827. The firm’s 50 day moving average price is $59.86 and its 200 day moving average price is $53.62. Haynes International has a 12 month low of $41.15 and a 12 month high of $60.86. The stock has a market capitalization of $772.42 million, a PE ratio of 18.57, a price-to-earnings-growth ratio of 0.71 and a beta of 1.43. The company has a quick ratio of 1.69, a current ratio of 7.62 and a debt-to-equity ratio of 0.26.

Haynes International (NASDAQ:HAYN) last announced its earnings results on Friday, February 9th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.10). The business had revenue of $147.36 million for the quarter, compared to analysts’ expectations of $151.94 million. Haynes International had a net margin of 6.94% and a return on equity of 9.89%. During the same quarter last year, the business earned $0.61 EPS. As a group, equities analysts predict that Haynes International will post 4.06 earnings per share for the current year.

Haynes International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend was Thursday, February 29th. Haynes International’s dividend payout ratio is currently 26.99%.

Wall Street Analysts Forecast Growth

HAYN has been the topic of several analyst reports. Noble Financial downgraded Haynes International from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 6th. StockNews.com assumed coverage on shares of Haynes International in a report on Thursday, April 11th. They set a “hold” rating on the stock. Finally, Northcoast Research restated a “neutral” rating on shares of Haynes International in a research note on Thursday, March 14th.

Hedge Funds Weigh In On Haynes International

Large investors have recently added to or reduced their stakes in the business. Edenbrook Capital LLC lifted its position in Haynes International by 2.8% during the first quarter. Edenbrook Capital LLC now owns 1,041,492 shares of the basic materials company’s stock valued at $44,368,000 after buying an additional 28,700 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Haynes International by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 717,900 shares of the basic materials company’s stock valued at $30,583,000 after buying an additional 3,903 shares during the period. State Street Corp increased its holdings in Haynes International by 23.3% in the first quarter. State Street Corp now owns 602,492 shares of the basic materials company’s stock valued at $25,666,000 after buying an additional 113,889 shares during the last quarter. Geode Capital Management LLC raised its stake in Haynes International by 5.3% during the second quarter. Geode Capital Management LLC now owns 259,111 shares of the basic materials company’s stock valued at $13,168,000 after buying an additional 12,993 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Haynes International by 2.3% during the third quarter. Bank of New York Mellon Corp now owns 171,391 shares of the basic materials company’s stock worth $6,019,000 after purchasing an additional 3,902 shares in the last quarter. 97.31% of the stock is currently owned by hedge funds and other 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.