Quarry LP Lowers Position in Hexcel Co. (NYSE:HXL)

Quarry LP reduced its position in shares of Hexcel Co. (NYSE:HXL) by 85.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 507 shares of the aerospace company’s stock after selling 2,989 shares during the period. Quarry LP’s holdings in Hexcel were worth $31,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC acquired a new stake in shares of Hexcel in the third quarter valued at $30,000. Capital Performance Advisors LLP purchased a new stake in shares of Hexcel during the 3rd quarter worth approximately $56,000. First Horizon Advisors Inc. grew its holdings in shares of Hexcel by 53.8% during the third quarter. First Horizon Advisors Inc. now owns 932 shares of the aerospace company’s stock worth $58,000 after purchasing an additional 326 shares during the last quarter. Huntington National Bank lifted its holdings in shares of Hexcel by 30.8% in the 3rd quarter. Huntington National Bank now owns 955 shares of the aerospace company’s stock valued at $59,000 after purchasing an additional 225 shares during the last quarter. Finally, Eastern Bank acquired a new stake in shares of Hexcel in the 3rd quarter valued at about $62,000. 95.47% of the stock is owned by institutional investors and hedge funds.

Hexcel Stock Performance

NYSE:HXL opened at $63.38 on Thursday. Hexcel Co. has a fifty-two week low of $57.50 and a fifty-two week high of $77.09. The firm’s 50 day moving average is $61.50 and its two-hundred day moving average is $62.84. The company has a market cap of $5.13 billion, a P/E ratio of 48.38, a P/E/G ratio of 1.94 and a beta of 1.30. The company has a quick ratio of 1.51, a current ratio of 2.76 and a debt-to-equity ratio of 0.51.

Hexcel (NYSE:HXL) last issued its quarterly earnings data on Monday, October 21st. The aerospace company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. Hexcel had a return on equity of 9.99% and a net margin of 5.73%. The company had revenue of $457.00 million for the quarter, compared to analysts’ expectations of $457.07 million. During the same quarter in the previous year, the firm posted $0.38 earnings per share. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. Analysts expect that Hexcel Co. will post 2.02 EPS for the current year.

Hexcel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were given a $0.15 dividend. The ex-dividend date was Friday, November 1st. This represents a $0.60 dividend on an annualized basis and a yield of 0.95%. Hexcel’s payout ratio is currently 45.80%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on HXL shares. UBS Group increased their price target on shares of Hexcel from $67.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. BMO Capital Markets decreased their price objective on Hexcel from $70.00 to $68.00 and set a “market perform” rating for the company in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Hexcel from $63.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday, November 21st. Truist Financial decreased their target price 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, StockNews.com raised Hexcel from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Hexcel presently has a consensus rating of “Hold” and a consensus price target of $70.83.

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.