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

Bank of Montreal Can lowered its holdings in shares of Hexcel Co. (NYSE:HXL - Free Report) by 35.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,200 shares of the aerospace company's stock after selling 30,250 shares during the quarter. Bank of Montreal Can owned 0.07% of Hexcel worth $3,414,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of HXL. Fisher Asset Management LLC lifted its position in shares of Hexcel by 9.0% in the 3rd quarter. Fisher Asset Management LLC now owns 92,441 shares of the aerospace company's stock worth $5,716,000 after purchasing an additional 7,626 shares during the period. Cerity Partners LLC raised its stake in Hexcel by 36.1% in the third quarter. Cerity Partners LLC now owns 54,468 shares of the aerospace company's stock worth $3,368,000 after buying an additional 14,455 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Hexcel by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,060,727 shares of the aerospace company's stock worth $65,585,000 after buying an additional 10,479 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Hexcel by 36.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,600,619 shares of the aerospace company's stock valued at $98,966,000 after acquiring an additional 425,402 shares in the last quarter. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of Hexcel in the 3rd quarter valued at $485,000. Institutional investors own 95.47% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HXL. Deutsche Bank Aktiengesellschaft dropped their price objective on Hexcel from $63.00 to $60.00 and set a "hold" rating on the stock in a research report on Thursday, November 21st. Truist Financial cut their price objective 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. Wells Fargo & Company raised their target price on shares of Hexcel from $77.00 to $78.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. StockNews.com raised Hexcel from a "hold" rating to a "buy" rating in a research report on Wednesday, October 23rd. Finally, Vertical Research downgraded 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. 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 stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $70.58.

Hexcel Stock Performance

HXL traded down $2.59 during midday trading on Thursday, hitting $62.72. 1,141,514 shares of the company were exchanged, compared to its average volume of 865,585. The company's 50 day simple moving average is $61.33 and its 200 day simple moving average is $63.10. The firm has a market capitalization of $5.08 billion, a price-to-earnings ratio of 47.61, a price-to-earnings-growth ratio of 1.98 and a beta of 1.30. Hexcel Co. has a 1-year low of $57.50 and a 1-year high of $77.09. The company has a current ratio of 2.76, a quick ratio of 1.51 and a debt-to-equity ratio of 0.51.

Hexcel (NYSE:HXL - Get Free Report) last announced its quarterly earnings results on Monday, October 21st. The aerospace company reported $0.47 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $457.07 million. During the same period last year, the business earned $0.38 earnings per share. Hexcel's quarterly revenue was up 8.9% on a year-over-year basis. As a group, sell-side analysts predict that Hexcel Co. will post 2.02 earnings per share for the current year.

Hexcel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, November 1st were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Friday, November 1st. Hexcel's dividend payout ratio (DPR) is presently 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.