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

Haynes International, Inc. (NASDAQ:HAYN) was the recipient of a large 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. Based on an average daily volume of 248,400 shares, the days-to-cover ratio is currently 1.1 days. Currently, 2.2% of the shares of the company are short sold.

Haynes International Stock Performance

NASDAQ HAYN opened at $60.33 on Tuesday. 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 business’s 50 day moving average is $59.99 and its two-hundred day moving average is $54.56. The stock has a market capitalization of $771.02 million, a price-to-earnings ratio of 18.51, a PEG ratio of 0.75 and a beta of 1.43. Haynes International has a 12-month low of $41.15 and a 12-month high of $60.86.

Haynes International (NASDAQ:HAYN) last announced its quarterly earnings data 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). Haynes International had a return on equity of 9.89% and a net margin of 6.94%. The business had revenue of $147.36 million for the quarter, compared to analyst estimates of $151.94 million. During the same period in the prior year, the company earned $0.61 EPS. Research analysts expect that Haynes International will post 3.83 EPS for the current year.

Haynes International Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Noble Financial downgraded shares of Haynes International from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 6th. StockNews.com assumed coverage on Haynes International in a research note on Saturday. They issued a “hold” rating on the stock. Finally, Northcoast Research reaffirmed a “neutral” rating on shares of Haynes International in a report on Thursday, March 14th.

Institutional Investors Weigh In On Haynes International

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Diamond Hill Capital Management Inc. acquired a new position in shares of Haynes International during the 3rd quarter worth $1,698,000. Covestor Ltd raised its position in Haynes International by 484.2% during the third quarter. Covestor Ltd now owns 1,589 shares of the basic materials company’s stock worth $74,000 after acquiring an additional 1,317 shares during the last quarter. Foundry Partners LLC lifted its holdings in shares of Haynes International by 10.1% in the third quarter. Foundry Partners LLC now owns 102,925 shares of the basic materials company’s stock valued at $4,788,000 after purchasing an additional 9,435 shares in the last quarter. New York State Teachers Retirement System grew its position 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 purchasing an additional 600 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Haynes International by 352.9% during the 4th quarter. Russell Investments Group Ltd. now owns 27,240 shares of the basic materials company’s stock worth $1,554,000 after purchasing an additional 21,225 shares in the last quarter. 97.31% of the stock is currently owned by institutional investors and hedge funds.

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.