Haynes International, Inc. (NASDAQ:HAYN) Sees Significant Growth in Short Interest

Haynes International, Inc. (NASDAQ:HAYN) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 619,800 shares, a growth of 55.6% from the October 15th total of 398,300 shares. Currently, 5.0% of the company’s shares are sold short. Based on an average daily volume of 119,300 shares, the short-interest ratio is presently 5.2 days.

Wall Street Analysts Forecast Growth

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

Haynes International Trading Down 0.1 %

HAYN traded down $0.08 during midday trading on Thursday, reaching $60.62. 273,388 shares of the company were exchanged, compared to its average volume of 156,521. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.89 and a current ratio of 7.74. Haynes International has a one year low of $47.69 and a one year high of $60.86. The stock has a market capitalization of $774.72 million, a P/E ratio of 20.83, a PEG ratio of 0.74 and a beta of 1.39. The stock’s 50-day simple moving average is $59.81 and its 200 day simple moving average is $59.45.

Haynes International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid 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 1.45%. Haynes International’s dividend payout ratio is currently 30.24%.

Insiders Place Their Bets

In related news, CFO Daniel W. Maudlin sold 6,744 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $59.66, for a total value of $402,347.04. Following the completion of the sale, the chief financial officer now owns 30,287 shares of the company’s stock, valued at $1,806,922.42. This represents a 18.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 6.10% of the stock is owned by corporate insiders.

Institutional Trading of Haynes International

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in Haynes International in the 1st quarter worth about $114,000. BNP Paribas Financial Markets lifted 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 worth $165,000 after acquiring an additional 220 shares during the period. Cornercap Investment Counsel Inc. purchased a new stake in Haynes International during the second quarter valued at about $526,000. Nisa Investment Advisors LLC grew its stake in 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 in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Haynes International by 16.9% in the 1st quarter. Russell Investments Group Ltd. now owns 31,845 shares of the basic materials company’s stock valued at $1,915,000 after purchasing an additional 4,605 shares during the period. 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.