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

Haynes International, Inc. (NASDAQ:HAYN) was the recipient of a large 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 volume of 211,100 shares, the short-interest ratio is currently 1.0 days. Currently, 1.7% of the shares of the company are sold short.

Haynes International Stock Performance

Shares of HAYN opened at $60.43 on Thursday. The firm has a market capitalization of $772.30 million, a PE ratio of 18.54, a P/E/G 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. The firm has a 50-day moving average price of $59.88 and a 200 day moving average price of $53.67. Haynes International has a 52-week low of $41.15 and a 52-week high of $60.86.

Haynes International (NASDAQ:HAYN) last posted its quarterly earnings data on Friday, February 9th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.10). Haynes International had a net margin of 6.94% and a return on equity of 9.89%. The company had revenue of $147.36 million during the quarter, compared to the consensus estimate of $151.94 million. During the same quarter last year, the business earned $0.61 earnings per share. On average, sell-side analysts anticipate that Haynes International will post 4.06 earnings per share for the current fiscal year.

Haynes International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.22 dividend. 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 payout ratio is 26.99%.

Institutional Trading of Haynes International

A number of large investors have recently added to or reduced their stakes in HAYN. State Street Corp lifted its holdings in shares of 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 purchasing an additional 113,889 shares in the last quarter. Wasatch Advisors Inc. acquired a new stake in Haynes International during the 1st quarter worth about $4,131,000. Wellington Management Group LLP purchased a new position in Haynes International during the 1st quarter valued at about $3,889,000. Diamond Hill Capital Management Inc. purchased a new position in Haynes International during the 3rd quarter valued at about $1,698,000. Finally, EAM Global Investors LLC acquired a new position in shares of Haynes International in the 4th quarter valued at about $1,559,000. 97.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on HAYN. Noble Financial lowered shares of Haynes International from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 6th. StockNews.com initiated coverage on Haynes International in a research report on Thursday, April 11th. They issued a “hold” rating on the stock. Finally, Northcoast Research reaffirmed a “neutral” rating on shares of Haynes International in a research note on Thursday, March 14th.

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.