Deerfield Management Company L.P. Series C Boosts Holdings in Hexcel Co. (NYSE:HXL)

Deerfield Management Company L.P. Series C grew its holdings in Hexcel Co. (NYSE:HXL) by 354.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,879 shares of the aerospace company’s stock after purchasing an additional 18,620 shares during the quarter. Deerfield Management Company L.P. Series C’s holdings in Hexcel were worth $1,491,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in HXL. Fidelis Capital Partners LLC purchased a new position in Hexcel in the first quarter worth approximately $36,000. Centerpoint Advisors LLC increased its stake in Hexcel by 44.6% in the 1st quarter. Centerpoint Advisors LLC now owns 723 shares of the aerospace company’s stock valued at $53,000 after buying an additional 223 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Hexcel in the 1st quarter valued at $54,000. GAMMA Investing LLC boosted its position in shares of Hexcel by 34.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,068 shares of the aerospace company’s stock worth $67,000 after purchasing an additional 276 shares in the last quarter. Finally, Assetmark Inc. boosted its position in shares of Hexcel by 24.3% during the 4th quarter. Assetmark Inc. now owns 1,497 shares of the aerospace company’s stock worth $110,000 after purchasing an additional 293 shares in the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Analyst Upgrades and Downgrades

HXL has been the topic of several research analyst reports. Truist Financial decreased their target price on shares of Hexcel from $88.00 to $81.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. UBS Group reduced their target price on shares of Hexcel from $73.00 to $71.00 and set a “neutral” rating on the stock in a report on Monday, July 1st. Morgan Stanley reduced their target price on shares of Hexcel from $63.00 to $61.00 and set an “underweight” rating on the stock in a report on Monday, July 22nd. Stifel Nicolaus reduced their target price on shares of Hexcel from $86.00 to $84.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Hexcel from $70.00 to $68.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $74.54.

Hexcel Price Performance

Shares of HXL opened at $61.32 on Thursday. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 52.41, a price-to-earnings-growth ratio of 1.37 and a beta of 1.29. 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 one year low of $58.54 and a one year high of $77.09. The stock’s fifty day moving average is $62.30 and its 200-day moving average is $65.81.

Hexcel (NYSE:HXL) last released its earnings results on Thursday, July 18th. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The firm had revenue of $500.40 million for the quarter, compared to analyst estimates of $484.26 million. Hexcel had a return on equity of 9.55% and a net margin of 5.78%. Hexcel’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 earnings per share. Equities analysts anticipate that Hexcel Co. will post 2.08 EPS for the current year.

Hexcel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, August 2nd were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Friday, August 2nd. Hexcel’s payout ratio is currently 51.28%.

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.