There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on December 14, Haynes International, Inc.'s Director, Dawne S. Hickton, invested $63,000.00 into 2,000 shares of HAYN, for a cost per share of $31.50. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.

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In trading on Thursday, bargain hunters could buy shares of Haynes International, Inc. ( HAYN - Get Report) and achieve a cost basis 1.2% cheaper than Hickton, with shares changing hands as low as $31.11 per share. Haynes International, Inc. shares are currently trading down about 4% on the day. The chart below shows the one year performance of HAYN shares, versus its 200 day moving average:

Haynes International, Inc. Chart

Looking at the chart above, HAYN's low point in its 52 week range is $28.97 per share, with $45.95 as the 52 week high point — that compares with a last trade of $31.11. By comparison, below is a table showing the prices at which HAYN insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
12/14/2017 Dawne S. Hickton Director 2,000 $31.50 $63,000.00

HAYN makes up 527.11% of the PowerShares FTSE RAFI US 1500 Small-Mid Portfolio ETF ( PRFZ)