Haynes International (NASDAQ:HAYN) Sees Strong Trading Volume - Here's What Happened

Shares of Haynes International, Inc. (NASDAQ:HAYN - Get Free Report) saw strong trading volume on Friday . 127,952 shares changed hands during mid-day trading, a decline of 18% from the previous session's volume of 156,601 shares.The stock last traded at $60.96 and had previously closed at $60.62.

Analysts Set New Price Targets

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

Haynes International Stock Up 0.5 %

The company has a market capitalization of $778.69 million, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 0.74 and a beta of 1.39. The company has a quick ratio of 1.89, a current ratio of 7.74 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $59.84 and a 200-day moving average price of $59.46.

Haynes International Dividend Announcement

The company also recently announced 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 1.44%. The ex-dividend date was Friday, August 30th. Haynes International's dividend payout ratio (DPR) is currently 30.24%.

Insider Activity

In related 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 of the company's stock, valued at approximately $1,806,922.42. This represents a 18.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Haynes International

Several institutional investors and hedge funds have recently bought and sold shares of HAYN. BNP Paribas Financial Markets boosted its holdings in shares of Haynes International by 8.6% during the third quarter. BNP Paribas Financial Markets now owns 2,775 shares of the basic materials company's stock worth $165,000 after purchasing an additional 220 shares during the period. Rhumbline Advisers boosted its stake in shares of Haynes International by 3.2% during the 2nd quarter. Rhumbline Advisers now owns 39,983 shares of the basic materials company's stock valued at $2,347,000 after buying an additional 1,245 shares during the period. SG Americas Securities LLC purchased a new position in shares of Haynes International during the 1st quarter valued at $114,000. Bank of New York Mellon Corp increased its stake in shares of Haynes International by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 160,923 shares of the basic materials company's stock worth $9,446,000 after acquiring an additional 4,153 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Haynes International by 16.9% in the first quarter. Russell Investments Group Ltd. now owns 31,845 shares of the basic materials company's stock worth $1,915,000 after acquiring an additional 4,605 shares during the last quarter. Hedge funds and other institutional investors own 97.31% of the company's stock.

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.