Haynes International (NASDAQ:HAYN) Shares Pass Above 200-Day Moving Average – Should You Sell?

Haynes International, Inc. (NASDAQ:HAYN) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $59.43 and traded as high as $60.57. Haynes International shares last traded at $60.36, with a volume of 315,001 shares.

Wall Street Analyst Weigh In

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

Haynes International Price Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 7.74 and a quick ratio of 1.89. The firm has a fifty day moving average of $59.69 and a two-hundred day moving average of $59.43. The stock has a market capitalization of $771.70 million, a P/E ratio of 20.74, a P/E/G ratio of 0.67 and a beta of 1.39.

Haynes International (NASDAQ:HAYN) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.33). The business had revenue of $153.92 million during the quarter, compared to the consensus estimate of $159.35 million. Haynes International had a return on equity of 8.45% and a net margin of 6.11%. On average, analysts predict that Haynes International, Inc. will post 2.55 EPS for the current year.

Haynes International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Friday, August 30th. Haynes International’s payout ratio is 30.24%.

Insider Activity at Haynes International

In other Haynes International news, CFO Daniel W. Maudlin sold 6,744 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $59.66, for a total value of $402,347.04. Following the completion of the transaction, the chief financial officer now directly owns 30,287 shares in the company, valued at approximately $1,806,922.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Gabelli Funds LLC grew its holdings in Haynes International by 29.5% in the second quarter. Gabelli Funds LLC now owns 179,371 shares of the basic materials company’s stock worth $10,529,000 after purchasing an additional 40,904 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new stake in shares of Haynes International in the 2nd quarter worth $526,000. Rhumbline Advisers grew its stake in Haynes International by 3.2% during the 2nd quarter. Rhumbline Advisers now owns 39,983 shares of the basic materials company’s stock worth $2,347,000 after buying an additional 1,245 shares during the last quarter. Bank of New York Mellon Corp increased its position in Haynes International by 2.6% during 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 buying an additional 4,153 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Haynes International by 71,414.3% in the second quarter. Nisa Investment Advisors LLC now owns 25,030 shares of the basic materials company’s stock valued at $1,469,000 after buying an additional 24,995 shares during the last quarter. Hedge funds and other 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.