Haynes International (NASDAQ:HAYN) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Haynes International, Inc. (NASDAQ:HAYN)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $59.43 and traded as high as $60.36. Haynes International shares last traded at $60.17, with a volume of 143,860 shares traded.

Analysts Set New Price Targets

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

Haynes International Price Performance

The company’s 50 day simple moving average is $59.65 and its 200 day simple moving average is $59.44. 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 capitalization of $770.81 million, a PE ratio of 20.37, a PEG ratio of 0.66 and a beta of 1.39.

Haynes International (NASDAQ:HAYN) last announced 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 analysts’ expectations of $159.35 million. Haynes International had a net margin of 6.11% and a return on equity of 8.45%. On average, equities analysts anticipate that Haynes International, Inc. will post 2.55 earnings per share for the current year.

Haynes International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend was Friday, August 30th. Haynes International’s dividend payout ratio is currently 29.73%.

Insiders Place Their Bets

In related news, CFO Daniel W. Maudlin sold 6,744 shares of Haynes International stock in a transaction 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 in the company, valued at approximately $1,806,922.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in Haynes International during the first quarter worth approximately $114,000. BNP Paribas Financial Markets increased its holdings in Haynes International by 67.1% in the 1st quarter. BNP Paribas Financial Markets now owns 6,233 shares of the basic materials company’s stock valued at $375,000 after purchasing an additional 2,504 shares in the last quarter. Cornercap Investment Counsel Inc. purchased a new position in Haynes International in the second quarter valued at about $526,000. Nisa Investment Advisors LLC lifted its stake in shares of Haynes International by 71,414.3% during the second quarter. Nisa Investment Advisors LLC now owns 25,030 shares of the basic materials company’s stock worth $1,469,000 after purchasing an additional 24,995 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position 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 buying an additional 4,605 shares during the period. 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.