Haynes International (NASDAQ:HAYN) Sees Large Volume Increase Following Dividend Announcement

Haynes International, Inc. (NASDAQ:HAYNGet Free Report) shares saw strong trading volume on Tuesday after the company announced a dividend. 729,796 shares were traded during mid-day trading, an increase of 450% from the previous session’s volume of 132,794 shares.The stock last traded at $59.70 and had previously closed at $60.00.

The newly announced dividend which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, February 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.48%. Haynes International’s dividend payout ratio is 26.91%.

Analysts Set New Price Targets

Separately, Noble Financial downgraded shares of Haynes International from an “outperform” rating to a “market perform” rating in a research report on Tuesday.

View Our Latest Analysis on HAYN

Haynes International Trading Down 0.6 %

The firm has a market cap of $762.33 million, a P/E ratio of 18.24, a PEG ratio of 0.63 and a beta of 1.43. The company has a 50 day moving average of $53.88 and a 200 day moving average of $49.61. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.63 and a current ratio of 7.02.

Haynes International (NASDAQ:HAYNGet Free Report) last posted its earnings results on Monday, February 5th. The basic materials company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.10). The business had revenue of $147.36 million during the quarter, compared to the consensus estimate of $151.94 million. Haynes International had a return on equity of 10.22% and a net margin of 7.11%. During the same period in the prior year, the firm earned $0.61 earnings per share. Analysts predict that Haynes International, Inc. will post 4.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Haynes International

A number of large investors have recently added to or reduced their stakes in the stock. Edenbrook Capital LLC boosted its holdings in shares of Haynes International by 2.8% during the 1st quarter. Edenbrook Capital LLC now owns 1,041,492 shares of the basic materials company’s stock worth $44,368,000 after buying an additional 28,700 shares during the period. Vanguard Group Inc. boosted its holdings in Haynes International by 0.5% during the first quarter. Vanguard Group Inc. now owns 717,900 shares of the basic materials company’s stock valued at $30,583,000 after acquiring an additional 3,903 shares during the period. State Street Corp boosted its stake in Haynes International by 23.3% during the 1st quarter. State Street Corp now owns 602,492 shares of the basic materials company’s stock valued at $25,666,000 after purchasing an additional 113,889 shares during the period. Geode Capital Management LLC boosted its stake in Haynes International by 5.3% during the 2nd quarter. Geode Capital Management LLC now owns 259,111 shares of the basic materials company’s stock valued at $13,168,000 after purchasing an additional 12,993 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Haynes International by 2.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 171,391 shares of the basic materials company’s stock valued at $6,019,000 after purchasing an additional 3,902 shares during the period. Institutional investors own 97.11% of the company’s stock.

About Haynes International

(Get Free Report)

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.

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