Hedge Funds Are Crazy About Haynes International, Inc. (HAYN)

As industrywide interest jumped, key money managers have jumped into Haynes International, Inc. (NASDAQ:HAYN) headfirst. AQR Capital Management, led by Cliff Asness, created the most valuable position in Haynes International, Inc. (NASDAQ:HAYN). AQR Capital Management had $0.4 million invested in the company at the end of the quarter. D E Shaw also made a $0.2 million investment in the stock during the quarter.

Let’s now take a look at hedge fund activity in other stocks similar to Haynes International, Inc. (NASDAQ:HAYN). These stocks are NACCO Industries, Inc. (NYSE:NC), Exar Corporation (NASDAQ:EXAR), Timkensteel Corp (NYSE:TMST), and Harmonic Inc (NASDAQ:HLIT). This group of stocks’ market values match HAYN’s market value.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $52 million. That figure was $44 million in HAYN’s case. Exar Corporation (NASDAQ:EXAR) is the most popular stock in this table. On the other hand NACCO Industries, Inc. (NYSE:NC) is the least popular one with only 7 bullish hedge fund positions. Haynes International, Inc. (NASDAQ:HAYN) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard EXAR might be a better candidate to consider taking a long position in.

Disclosure: None