Bank of Montreal Can Raises Stake in Hexcel Co. (NYSE:HXL)

Bank of Montreal Can grew its stake in shares of Hexcel Co. (NYSE:HXL) by 46.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,450 shares of the aerospace company’s stock after purchasing an additional 26,909 shares during the quarter. Bank of Montreal Can owned approximately 0.10% of Hexcel worth $5,382,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in HXL. Ceredex Value Advisors LLC grew its holdings in Hexcel by 280.7% during the 2nd quarter. Ceredex Value Advisors LLC now owns 722,290 shares of the aerospace company’s stock worth $45,107,000 after acquiring an additional 532,550 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Hexcel by 114.4% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 436,321 shares of the aerospace company’s stock worth $31,786,000 after acquiring an additional 232,827 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Hexcel by 151.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 344,342 shares of the aerospace company’s stock worth $25,086,000 after acquiring an additional 207,434 shares in the last quarter. Sei Investments Co. grew its holdings in Hexcel by 17.3% during the 4th quarter. Sei Investments Co. now owns 1,236,068 shares of the aerospace company’s stock worth $91,161,000 after acquiring an additional 182,333 shares in the last quarter. Finally, Earnest Partners LLC boosted its holdings in shares of Hexcel by 4.0% in the 1st quarter. Earnest Partners LLC now owns 4,699,704 shares of the aerospace company’s stock valued at $342,373,000 after buying an additional 181,718 shares in the last quarter. 95.47% of the stock is owned by hedge funds and other institutional investors.

Hexcel Stock Performance

HXL opened at $60.84 on Wednesday. Hexcel Co. has a 12-month low of $58.54 and a 12-month high of $77.09. The company has a current ratio of 2.75, a quick ratio of 1.55 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $5.06 billion, a PE ratio of 52.00, a P/E/G ratio of 1.37 and a beta of 1.29. The firm has a 50 day moving average of $62.14 and a two-hundred day moving average of $65.45.

Hexcel (NYSE:HXL) last posted its quarterly 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. Hexcel had a net margin of 5.78% and a return on equity of 9.55%. The company had revenue of $500.40 million during the quarter, compared to analyst estimates of $484.26 million. During the same period last year, the firm posted $0.50 EPS. Hexcel’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, analysts anticipate that Hexcel Co. will post 2.08 EPS for the current year.

Hexcel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, August 2nd were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Friday, August 2nd. Hexcel’s dividend payout ratio (DPR) is 51.28%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on HXL shares. Truist Financial lowered their price target on shares of Hexcel from $88.00 to $81.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Stifel Nicolaus lowered their price target 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. Royal Bank of Canada cut shares of Hexcel from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $76.00 to $68.00 in a report on Wednesday, August 14th. Morgan Stanley lowered their price target 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. Finally, Deutsche Bank Aktiengesellschaft lowered their price target 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 investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $74.46.

Hexcel Company 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.