Diamond Hill Capital Management Inc. Sells 62,063 Shares of Haynes International, Inc. (NASDAQ:HAYN)

Diamond Hill Capital Management Inc. reduced its position in Haynes International, Inc. (NASDAQ:HAYN) by 62.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,270 shares of the basic materials company’s stock after selling 62,063 shares during the quarter. Diamond Hill Capital Management Inc. owned approximately 0.29% of Haynes International worth $2,188,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in 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 purchasing an additional 4,153 shares during the period. Gabelli Funds LLC acquired a new stake in shares of Haynes International in the 1st quarter valued at $8,325,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of Haynes International in the 1st quarter valued at $7,070,000. Rhumbline Advisers boosted its stake in shares of Haynes International by 3.2% in the 2nd quarter. Rhumbline Advisers now owns 39,983 shares of the basic materials company’s stock valued at $2,347,000 after purchasing an additional 1,245 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Haynes International by 16.9% in the 1st quarter. Russell Investments Group Ltd. now owns 31,845 shares of the basic materials company’s stock valued at $1,915,000 after purchasing an additional 4,605 shares in the last quarter. 97.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Haynes International in a research note on Tuesday, September 10th. They issued a “hold” rating on the stock.

Insiders Place Their Bets

In other Haynes International news, CFO Daniel W. Maudlin sold 6,744 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $59.66, for a total transaction 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.10% of the company’s stock.

Haynes International Stock Down 0.1 %

Shares of NASDAQ:HAYN opened at $59.40 on Monday. Haynes International, Inc. has a 52 week low of $41.15 and a 52 week high of $60.86. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.89 and a current ratio of 7.74. The company’s fifty day moving average is $59.64 and its 200-day moving average is $59.50. The company has a market capitalization of $759.13 million, a PE ratio of 20.07, a P/E/G ratio of 1.11 and a beta of 1.40.

Haynes International (NASDAQ:HAYN) last released its quarterly 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). Haynes International had a net margin of 6.11% and a return on equity of 8.45%. The business had revenue of $153.92 million during the quarter, compared to the consensus estimate of $159.35 million. Equities research analysts predict that Haynes International, Inc. will post 2.55 earnings per share for the current fiscal year.

Haynes International Announces Dividend

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

Haynes International 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.