Haynes International (NASDAQ:HAYN) Hits New 12-Month High - Time to Buy?

Haynes International, Inc. (NASDAQ:HAYN - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $60.96 and last traded at $60.96, with a volume of 12318 shares trading hands. The stock had previously closed at $60.93.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Haynes International from a "hold" rating to a "sell" rating in a research report on Monday.

Haynes International Price Performance

The stock has a market cap of $779.20 million, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 0.85 and a beta of 1.39. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.89 and a current ratio of 7.74. The company has a 50-day simple moving average of $59.89 and a two-hundred day simple moving average of $59.47.

Haynes International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.88 annualized dividend and a yield of 1.44%. Haynes International's dividend payout ratio is 30.24%.

Insiders Place Their Bets

In other news, CFO Daniel W. Maudlin sold 6,744 shares of the company's stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $59.66, for a total value of $402,347.04. Following the transaction, the chief financial officer now owns 30,287 shares of the company's stock, valued at approximately $1,806,922.42. This represents a 18.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HAYN. Geode Capital Management LLC grew its stake in Haynes International by 2.0% during the third quarter. Geode Capital Management LLC now owns 298,479 shares of the basic materials company's stock worth $17,774,000 after buying an additional 5,767 shares in the last quarter. Anson Funds Management LP bought a new stake in shares of Haynes International during the 3rd quarter worth approximately $1,445,000. BNP Paribas Financial Markets boosted its position in shares of 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 acquiring an additional 220 shares in the last quarter. Gabelli Funds LLC increased its stake 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 valued at $10,529,000 after acquiring an additional 40,904 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new position in Haynes International in the second quarter valued at approximately $526,000. 97.31% of the stock is owned by 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.