Haynes International (NASDAQ:HAYN) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Shares of 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 $59.47 and traded as high as $59.59. Haynes International shares last traded at $59.50, with a volume of 83,702 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Haynes International in a research note on Friday. They issued a “hold” rating for the company.

Haynes International Stock Up 0.1 %

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 stock has a market cap of $761.23 million, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 1.10 and a beta of 1.39. The firm’s 50-day moving average is $59.57 and its 200 day moving average is $59.47.

Haynes International (NASDAQ:HAYN) last issued its earnings results on Thursday, August 1st. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.33). The firm had revenue of $153.92 million for the quarter, compared to analysts’ expectations of $159.35 million. Haynes International had a return on equity of 8.45% and a net margin of 6.11%. Sell-side analysts anticipate that Haynes International, Inc. will post 2.55 earnings per share for the current fiscal year.

Haynes International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.48%. The ex-dividend date was Friday, August 30th. Haynes International’s dividend payout ratio is currently 29.73%.

Insiders Place Their Bets

In other news, CFO Daniel W. Maudlin sold 6,744 shares of the firm’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 transaction, the chief financial officer now directly owns 30,287 shares in the company, valued at approximately $1,806,922.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HAYN. Gabelli Funds LLC lifted its stake in Haynes International by 29.5% during the second quarter. Gabelli Funds LLC now owns 179,371 shares of the basic materials company’s stock valued at $10,529,000 after purchasing an additional 40,904 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Haynes International by 2.6% during the second 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. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of Haynes International in the first quarter worth about $7,070,000. Rhumbline Advisers increased its position in shares of Haynes International by 3.2% in the second quarter. Rhumbline Advisers now owns 39,983 shares of the basic materials company’s stock worth $2,347,000 after acquiring an additional 1,245 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Haynes International by 16.9% during the first quarter. Russell Investments Group Ltd. now owns 31,845 shares of the basic materials company’s stock valued at $1,915,000 after acquiring an additional 4,605 shares during the period. 97.31% of the stock is currently owned by institutional investors.

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.