Short Interest in Haynes International, Inc. (NASDAQ:HAYN) Rises By 29.0%

Haynes International, Inc. (NASDAQ:HAYN) was the target of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 278,400 shares, an increase of 29.0% from the March 31st total of 215,800 shares. Approximately 2.2% of the company’s shares are short sold. Based on an average daily trading volume, of 248,400 shares, the short-interest ratio is currently 1.1 days.

Haynes International Price Performance

Shares of Haynes International stock opened at $60.31 on Friday. The business’s fifty day moving average price is $59.98 and its 200 day moving average price is $54.40. Haynes International has a twelve month low of $41.15 and a twelve month high of $60.86. The company has a current ratio of 7.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $770.76 million, a P/E ratio of 18.50, a PEG ratio of 0.75 and a beta of 1.43.

Haynes International (NASDAQ:HAYN) last released its quarterly earnings data 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 firm had revenue of $147.36 million during the quarter, compared to analyst estimates of $151.94 million. Haynes International had a net margin of 6.94% and a return on equity of 9.89%. During the same period in the prior year, the firm earned $0.61 earnings per share. As a group, research analysts anticipate that Haynes International will post 3.83 earnings per share for the current year.

Haynes International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid 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 was Thursday, February 29th. Haynes International’s dividend payout ratio is presently 26.99%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HAYN. Noble Financial lowered Haynes International from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 6th. Northcoast Research restated a “neutral” rating on shares of Haynes International in a report on Thursday, March 14th. Finally, StockNews.com initiated coverage on shares of Haynes International in a research note on Saturday. They set a “hold” rating on the stock.

Institutional Trading of Haynes International

A number of institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd raised its position 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 period. New York State Teachers Retirement System grew its stake in shares of Haynes International by 2.4% in the fourth quarter. New York State Teachers Retirement System now owns 26,061 shares of the basic materials company’s stock valued at $1,487,000 after buying an additional 600 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Haynes International by 352.9% in the fourth quarter. Russell Investments Group Ltd. now owns 27,240 shares of the basic materials company’s stock valued at $1,554,000 after buying an additional 21,225 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new stake in shares of Haynes International during the 3rd quarter valued at about $1,698,000. Finally, Foundry Partners LLC lifted its position 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 worth $4,788,000 after acquiring an additional 9,435 shares in the last quarter. 97.31% of the stock is 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.