Haynes International (NASDAQ:HAYN) Reaches New 1-Year High – Time to Buy?

Haynes International, Inc. (NASDAQ:HAYN) reached a new 52-week high on Wednesday . The stock traded as high as $60.86 and last traded at $60.71, with a volume of 174342 shares trading hands. The stock had previously closed at $60.60.

Wall Street Analysts Forecast Growth

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

Haynes International Stock Performance

The company has a current ratio of 7.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.22. The stock has a market cap of $774.72 million, a price-to-earnings ratio of 20.83, a P/E/G ratio of 0.74 and a beta of 1.39. The firm has a fifty day simple moving average of $59.81 and a 200-day simple moving average of $59.45.

Haynes International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given 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 payout ratio is currently 30.24%.

Insider Buying and Selling

In other Haynes International news, CFO Daniel W. Maudlin sold 6,744 shares of the stock in a transaction dated Thursday, September 5th. The stock was 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 directly owns 30,287 shares in the company, valued at $1,806,922.42. This represents a 18.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its position in Haynes International by 8.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,775 shares of the basic materials company’s stock worth $165,000 after buying an additional 220 shares in the last quarter. Gabelli Funds LLC boosted its stake in shares of Haynes International by 29.5% during the 2nd quarter. Gabelli Funds LLC now owns 179,371 shares of the basic materials company’s stock worth $10,529,000 after acquiring an additional 40,904 shares during the period. Cornercap Investment Counsel Inc. acquired a new position in shares of Haynes International during the 2nd quarter worth approximately $526,000. Rhumbline Advisers raised its stake in Haynes International by 3.2% in the 2nd quarter. Rhumbline Advisers now owns 39,983 shares of the basic materials company’s stock valued at $2,347,000 after acquiring an additional 1,245 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Haynes International by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 160,923 shares of the basic materials company’s stock valued at $9,446,000 after acquiring an additional 4,153 shares during the period. Institutional investors own 97.31% of the company’s stock.

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.