Huntington National Bank Buys 225 Shares of Hexcel Co. (NYSE:HXL)

Huntington National Bank increased its stake in Hexcel Co. (NYSE:HXL) by 30.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 955 shares of the aerospace company’s stock after purchasing an additional 225 shares during the quarter. Huntington National Bank’s holdings in Hexcel were worth $59,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new stake in shares of Hexcel in the third quarter worth $56,000. Eastern Bank purchased a new stake in shares of Hexcel in the 3rd quarter valued at about $62,000. 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 valued at $67,000 after acquiring an additional 276 shares during the last quarter. Whittier Trust Co. grew its holdings in shares of Hexcel by 38.9% during the third quarter. Whittier Trust Co. now owns 1,490 shares of the aerospace company’s stock worth $92,000 after purchasing an additional 417 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Hexcel in the second quarter worth approximately $128,000. 95.47% of the stock is currently owned by institutional investors.

Hexcel Stock Performance

Hexcel stock opened at $59.21 on Tuesday. Hexcel Co. has a 1-year low of $57.50 and a 1-year high of $77.09. The company’s 50-day moving average is $61.09 and its 200 day moving average is $63.86. The firm has a market capitalization of $4.80 billion, a P/E ratio of 45.20, a price-to-earnings-growth ratio of 1.76 and a beta of 1.30. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.76 and a quick ratio of 1.51.

Hexcel (NYSE:HXL) last posted its quarterly earnings results on Monday, October 21st. The aerospace company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. The company had revenue of $457.00 million for the quarter, compared to the consensus estimate of $457.07 million. Hexcel had a net margin of 5.73% and a return on equity of 9.99%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.38 EPS. Research analysts forecast that Hexcel Co. will post 2.02 EPS for the current year.

Hexcel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, November 1st were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Friday, November 1st. Hexcel’s payout ratio is 45.80%.

Wall Street Analysts Forecast Growth

HXL has been the topic of a number of research analyst reports. Vertical Research cut Hexcel from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a research note on Thursday, October 10th. StockNews.com raised Hexcel from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on Hexcel from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, November 1st. Truist Financial reduced their price target on shares of Hexcel from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Finally, Royal Bank of Canada lowered shares of Hexcel from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $76.00 to $68.00 in a report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $71.54.

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.