Haynes International, Inc. (NASDAQ:HAYN) Sees Large Increase in Short Interest

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Haynes International

Institutional investors have recently bought and sold shares of the stock. Diamond Hill Capital Management Inc. purchased a new stake in shares of Haynes International in the third quarter worth about $1,698,000. Covestor Ltd grew its holdings in 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 purchasing an additional 1,317 shares during the last quarter. Foundry Partners LLC grew its holdings in Haynes International by 10.1% during the 3rd 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 during the last quarter. Credit Suisse AG boosted its stake in Haynes International by 14,066.2% in the fourth quarter. Credit Suisse AG now owns 9,633 shares of the basic materials company’s stock valued at $440,000 after acquiring an additional 9,565 shares during the period. Finally, Sei Investments Co. increased its position in Haynes International by 15.3% in the 1st quarter. Sei Investments Co. now owns 8,527 shares of the basic materials company’s stock valued at $363,000 after acquiring an additional 1,131 shares during the period. 97.31% of the stock is owned by hedge funds and other institutional investors.

Haynes International Stock Performance

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

Haynes International (NASDAQ:HAYN) last released its earnings results on Friday, February 9th. The basic materials company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.10). The firm 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 firm posted $0.61 EPS. Research analysts forecast that Haynes International will post 4.06 earnings per share for the current fiscal year.

Haynes International Announces Dividend

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

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.