Hexcel Co. (NYSE:HXL) Stake Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its stake in Hexcel Co. (NYSE:HXL) by 25.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 903,167 shares of the aerospace company’s stock after selling 308,760 shares during the quarter. JPMorgan Chase & Co.’s holdings in Hexcel were worth $55,843,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Vertical Research lowered shares of Hexcel from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Hexcel from $63.00 to $60.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. BMO Capital Markets reduced their price target 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. TD Cowen raised Hexcel to a “hold” rating in a report on Thursday, December 19th. Finally, Royal Bank of Canada upgraded Hexcel from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $68.00 to $74.00 in a report on Thursday, December 19th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Hexcel presently has an average rating of “Hold” and an average price target of $71.33.

Hexcel Price Performance

Shares of Hexcel stock opened at $63.02 on Friday. The firm has a fifty day moving average price of $62.04 and a two-hundred day moving average price of $62.42. Hexcel Co. has a fifty-two week low of $57.50 and a fifty-two week high of $77.09. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.76 and a quick ratio of 1.51. The company has a market cap of $5.10 billion, a PE ratio of 48.11, a price-to-earnings-growth ratio of 1.97 and a beta of 1.30.

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

Hexcel Announces Dividend

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

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.