Park Place Capital Corp Decreases Stake in Hexcel Co. (NYSE:HXL)

Park Place Capital Corp lowered its holdings in Hexcel Co. (NYSE:HXL) by 47.7% in the 1st quarter, Holdings Channel reports. The firm owned 561 shares of the aerospace company’s stock after selling 512 shares during the period. Park Place Capital Corp’s holdings in Hexcel were worth $41,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Hexcel during the fourth quarter valued at $66,597,000. Massachusetts Financial Services Co. MA increased its position in Hexcel by 143.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,466,380 shares of the aerospace company’s stock valued at $108,146,000 after acquiring an additional 864,405 shares during the last quarter. TimesSquare Capital Management LLC increased its position in Hexcel by 93.0% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,503,055 shares of the aerospace company’s stock valued at $110,850,000 after acquiring an additional 724,280 shares during the last quarter. Sei Investments Co. increased its position in Hexcel by 17.3% during the fourth quarter. Sei Investments Co. now owns 1,236,068 shares of the aerospace company’s stock valued at $91,161,000 after acquiring an additional 182,333 shares during the last quarter. Finally, Comerica Bank increased its position in Hexcel by 225.6% during the third quarter. Comerica Bank now owns 189,760 shares of the aerospace company’s stock valued at $12,361,000 after acquiring an additional 131,473 shares during the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Insider Activity at Hexcel

In other news, Director Jeffrey C. Campbell purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was bought at an average cost of $64.13 per share, with a total value of $641,300.00. Following the completion of the purchase, the director now owns 17,803 shares in the company, valued at $1,141,706.39. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Catherine A. Suever acquired 400 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were acquired at an average cost of $68.33 per share, for a total transaction of $27,332.00. Following the completion of the transaction, the director now directly owns 15,748 shares in the company, valued at approximately $1,076,060.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey C. Campbell acquired 10,000 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were bought at an average price of $64.13 per share, for a total transaction of $641,300.00. Following the completion of the transaction, the director now owns 17,803 shares of the company’s stock, valued at $1,141,706.39. The disclosure for this purchase can be found here. Over the last three months, insiders bought 43,400 shares of company stock valued at $2,820,322. Insiders own 1.85% of the company’s stock.

Hexcel Stock Performance

NYSE HXL opened at $62.49 on Tuesday. The firm has a market cap of $5.19 billion, a price-to-earnings ratio of 53.41, a price-to-earnings-growth ratio of 1.17 and a beta of 1.28. The company has a quick ratio of 1.51, a current ratio of 2.74 and a debt-to-equity ratio of 0.44. The business has a 50-day moving average price of $67.23 and a 200-day moving average price of $69.78. Hexcel Co. has a twelve month low of $58.81 and a twelve month high of $79.08.

Hexcel (NYSE:HXL) last announced its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $0.44 EPS for the quarter, meeting analysts’ consensus estimates of $0.44. Hexcel had a return on equity of 8.97% and a net margin of 5.52%. The company had revenue of $472.30 million during the quarter, compared to analyst estimates of $468.93 million. During the same period in the prior year, the company earned $0.50 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis. As a group, equities research analysts predict that Hexcel Co. will post 2.21 EPS for the current fiscal year.

Hexcel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, May 3rd were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date was Thursday, May 2nd. Hexcel’s payout ratio is presently 51.28%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Stifel Nicolaus reduced their price objective on Hexcel from $86.00 to $84.00 and set a “buy” rating for the company in a research report on Tuesday. UBS Group reduced their price target on Hexcel from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Monday. Royal Bank of Canada restated an “outperform” rating and issued a $76.00 price target on shares of Hexcel in a research report on Friday, June 14th. Truist Financial reduced their price target on Hexcel from $96.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Finally, Wells Fargo & Company upgraded Hexcel from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $81.00 to $95.00 in a research report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $76.86.

About Hexcel

Hexcel Corporation develops, manufactures, and markets carbon fibers, structural reinforcements, honeycomb structures, resins, and composite materials and parts for use in commercial aerospace, space and defense, and industrial applications. It operates through two segments, Composite Materials and Engineered Products.