Principal Financial Group Inc. trimmed its stake in shares of Hexcel Co. (NYSE:HXL - Free Report) by 59.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 189,405 shares of the aerospace company's stock after selling 276,237 shares during the period. Principal Financial Group Inc. owned 0.23% of Hexcel worth $11,711,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Eastern Bank acquired a new stake in Hexcel during the third quarter worth about $62,000. GAMMA Investing LLC increased its position in shares of Hexcel by 34.8% during the second 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. increased its position 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 valued at $92,000 after acquiring an additional 417 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Hexcel in the second quarter valued at approximately $128,000. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Hexcel in the third quarter valued at approximately $155,000. 95.47% of the stock is currently owned by institutional investors and hedge funds.
Hexcel Stock Performance
Shares of NYSE HXL traded down $0.33 during midday trading on Monday, reaching $59.20. 694,126 shares of the company traded hands, compared to its average volume of 869,538. 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 stock has a 50-day moving average price of $61.12 and a 200 day moving average price of $63.92. Hexcel Co. has a 52 week low of $57.50 and a 52 week high of $77.09. The company has a market cap of $4.80 billion, a price-to-earnings ratio of 45.44, a PEG ratio of 1.76 and a beta of 1.30.
Hexcel (NYSE:HXL - Get Free Report) last issued 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 firm had revenue of $457.00 million for the quarter, compared to analysts' expectations of $457.07 million. Hexcel had a net margin of 5.73% and a return on equity of 9.99%. Hexcel's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 earnings per share. Sell-side analysts anticipate that Hexcel Co. will post 2.02 earnings per share for the current fiscal year.
Hexcel Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.60 annualized dividend and a yield of 1.01%. Hexcel's dividend payout ratio (DPR) is presently 45.80%.
Analyst Upgrades and Downgrades
HXL has been the subject of several recent research reports. Vertical Research lowered shares of Hexcel from a "buy" rating to a "hold" rating and set a $65.00 price objective for the company. in a research note on Thursday, October 10th. Truist Financial decreased their price target on shares of Hexcel from $78.00 to $76.00 and set a "buy" rating for the company in a research note on Friday, October 18th. BMO Capital Markets decreased their price target on shares of Hexcel from $70.00 to $68.00 and set a "market perform" rating for the company in a research note on Monday, October 28th. Royal Bank of Canada downgraded shares of Hexcel from an "outperform" rating to a "sector perform" rating and decreased their price target for the stock from $76.00 to $68.00 in a research note on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Hexcel from $64.00 to $63.00 and set a "hold" rating for the company in a research note on Friday, November 1st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Hexcel has an average rating of "Hold" and a consensus target price of $71.54.
View Our Latest Research Report on HXL
About Hexcel
(
Free Report)
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.
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