Raymond James & Associates Reduces Holdings in Hexcel Co. (NYSE:HXL)

Raymond James & Associates reduced its holdings in shares of Hexcel Co. (NYSE:HXL) by 12.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,817 shares of the aerospace company’s stock after selling 14,023 shares during the quarter. Raymond James & Associates’ holdings in Hexcel were worth $6,109,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Hexcel by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 7,914,296 shares of the aerospace company’s stock valued at $576,556,000 after acquiring an additional 67,425 shares in the last quarter. Earnest Partners LLC increased its holdings in Hexcel by 4.0% during the 1st quarter. Earnest Partners LLC now owns 4,699,704 shares of the aerospace company’s stock valued at $342,373,000 after acquiring an additional 181,718 shares in the last quarter. TimesSquare Capital Management LLC increased its holdings in Hexcel by 93.0% during the 4th 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 in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Hexcel by 143.6% during the 4th 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 in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Hexcel by 6.3% during the 4th quarter. Victory Capital Management Inc. now owns 1,377,915 shares of the aerospace company’s stock valued at $101,621,000 after acquiring an additional 81,389 shares in the last quarter. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. UBS Group lowered their price target on shares of Hexcel from $73.00 to $71.00 and set a “neutral” rating for the company in a report on Monday, July 1st. BMO Capital Markets lowered their price target on shares of Hexcel from $73.00 to $71.00 and set a “market perform” rating for the company in a report on Friday, July 19th. Stifel Nicolaus lowered their price target on shares of Hexcel from $86.00 to $84.00 and set a “buy” rating for the company in a report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Hexcel from $70.00 to $68.00 and set a “hold” rating for the company in a report on Friday, June 28th. Finally, Truist Financial lowered their price target on shares of Hexcel from $88.00 to $81.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $74.54.

Hexcel Price Performance

HXL opened at $63.70 on Wednesday. The stock has a market capitalization of $5.29 billion, a PE ratio of 54.44, a P/E/G ratio of 1.40 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.55 and a current ratio of 2.75. Hexcel Co. has a 1 year low of $58.81 and a 1 year high of $77.09. The company’s 50 day simple moving average is $63.72 and its 200 day simple moving average is $67.66.

Hexcel (NYSE:HXL) last announced its quarterly earnings results on Thursday, July 18th. The aerospace company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The firm had revenue of $500.40 million for the quarter, compared to analysts’ expectations of $484.26 million. Hexcel had a net margin of 5.78% and a return on equity of 9.55%. Hexcel’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 earnings per share. As a group, sell-side analysts expect that Hexcel Co. will post 2.09 EPS for the current year.

Hexcel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, August 2nd were given a dividend of $0.15 per share. The ex-dividend date was Friday, August 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 0.94%. Hexcel’s dividend payout ratio (DPR) is 51.28%.

Hexcel Profile

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.