Haynes International, Inc. (NASDAQ:HAYN) Sees Significant Decrease in Short Interest

Haynes International, Inc. (NASDAQ:HAYN) was the target of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 222,700 shares, a decline of 22.5% from the August 15th total of 287,500 shares. Currently, 1.8% of the company’s shares are sold short. Based on an average daily volume of 45,100 shares, the days-to-cover ratio is currently 4.9 days.

Separately, Zacks Investment Research upgraded Haynes International from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Tuesday, June 22nd.

Hedge funds and other institutional investors have recently modified their holdings of the business. Group One Trading L.P. grew its stake in shares of Haynes International by 121.0% in the second quarter. Group One Trading L.P. now owns 868 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 5,000 shares in the last quarter. Metropolitan Life Insurance Co NY grew its stake in shares of Haynes International by 97,950.0% in the second quarter. Metropolitan Life Insurance Co NY now owns 3,922 shares of the basic materials company’s stock worth $139,000 after purchasing an additional 3,918 shares in the last quarter. State of Tennessee Treasury Department grew its stake in shares of Haynes International by 9.6% in the first quarter. State of Tennessee Treasury Department now owns 5,100 shares of the basic materials company’s stock worth $151,000 after purchasing an additional 448 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Haynes International by 93.3% in the first quarter. BNP Paribas Arbitrage SA now owns 6,789 shares of the basic materials company’s stock worth $201,000 after purchasing an additional 3,277 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Haynes International in the first quarter worth $201,000. 95.98% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:HAYN traded up $0.24 during trading on Wednesday, reaching $36.91. 339 shares of the stock were exchanged, compared to its average volume of 67,940. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.33 and a current ratio of 6.41. Haynes International has a 12-month low of $15.29 and a 12-month high of $40.82. The firm has a market cap of $468.35 million, a price-to-earnings ratio of -26.77 and a beta of 1.47. The firm’s 50-day moving average price is $37.44 and its 200 day moving average price is $34.21.

Haynes International (NASDAQ:HAYN) last released its earnings results on Thursday, July 29th. The basic materials company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.13. The company had revenue of $88.14 million during the quarter, compared to analysts’ expectations of $87.01 million. Haynes International had a negative return on equity of 5.71% and a negative net margin of 5.26%. As a group, equities research analysts forecast that Haynes International will post -0.77 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Wednesday, September 1st were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.38%. The ex-dividend date was Tuesday, August 31st. Haynes International’s dividend payout ratio is presently -166.04%.

About Haynes International

Haynes International, Inc engages in the development, manufacture, and marketing of nickel-and cobalt-based alloys used in corrosion and high-temperature applications. It supports a range of industries such as aerospace, chemical processing, and industrial gas turbine. The company was founded by Elwood P.

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