Hexcel Co. (NYSE:HXL) Shares Sold by Citadel Advisors LLC

Citadel Advisors LLC reduced its stake in Hexcel Co. (NYSE:HXL – Get Rating) by 30.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 301,388 shares of the aerospace company’s stock after selling 131,972 shares during the period. Citadel Advisors LLC owned 0.36% of Hexcel worth $15,588,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Channing Capital Management LLC boosted its position in Hexcel by 23,692.4% during the 3rd quarter. Channing Capital Management LLC now owns 1,053,288 shares of the aerospace company’s stock valued at $54,476,000 after purchasing an additional 1,048,861 shares during the period. Millennium Management LLC boosted its holdings in shares of Hexcel by 265.0% during the second quarter. Millennium Management LLC now owns 803,612 shares of the aerospace company’s stock valued at $42,037,000 after acquiring an additional 583,440 shares during the period. Boston Partners grew its position in shares of Hexcel by 15.1% during the third quarter. Boston Partners now owns 3,799,982 shares of the aerospace company’s stock worth $196,571,000 after acquiring an additional 498,461 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Hexcel by 6.0% in the 1st quarter. BlackRock Inc. now owns 8,420,295 shares of the aerospace company’s stock worth $500,755,000 after acquiring an additional 475,375 shares during the period. Finally, State Street Corp lifted its position in Hexcel by 11.2% in the 1st quarter. State Street Corp now owns 3,409,631 shares of the aerospace company’s stock valued at $202,771,000 after purchasing an additional 344,711 shares during the last quarter. 97.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on HXL shares. Jefferies Financial Group upped their target price on shares of Hexcel from $60.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, January 30th. Bank of America cut Hexcel from a “buy” rating to a “neutral” rating and lowered their target price for the company from $75.00 to $70.00 in a research report on Friday, February 3rd. TheStreet upgraded Hexcel from a “c+” rating to a “b” rating in a research report on Thursday, January 26th. BMO Capital Markets raised their price target on Hexcel from $65.00 to $73.00 and gave the company a “market perform” rating in a report on Thursday, February 9th. Finally, Truist Financial lifted their price objective on shares of Hexcel from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Friday, January 27th. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $66.75.

Hexcel Price Performance

NYSE:HXL opened at $68.41 on Friday. Hexcel Co. has a 52-week low of $47.38 and a 52-week high of $74.99. The company has a quick ratio of 1.26, a current ratio of 2.23 and a debt-to-equity ratio of 0.47. The firm has a market cap of $5.77 billion, a P/E ratio of 46.22 and a beta of 1.25. The business’s 50-day moving average price is $67.69 and its 200 day moving average price is $61.01.

Hexcel (NYSE:HXL – Get Rating) last released its earnings results on Wednesday, January 25th. The aerospace company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.09. The business had revenue of $429.40 million for the quarter, compared to the consensus estimate of $402.18 million. Hexcel had a net margin of 8.01% and a return on equity of 7.29%. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.16 EPS. As a group, sell-side analysts predict that Hexcel Co. will post 1.81 earnings per share for the current fiscal year.

Hexcel Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 17th. Stockholders of record on Friday, February 10th were paid a dividend of $0.125 per share. The ex-dividend date was Thursday, February 9th. This is a positive change from Hexcel’s previous quarterly dividend of $0.10. This represents a $0.50 annualized dividend and a dividend yield of 0.73%. Hexcel’s dividend payout ratio (DPR) is currently 33.78%.

Insider Buying and Selling

In related news, insider Thierry Merlot sold 4,265 shares of the stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $68.51, for a total value of $292,195.15. Following the completion of the transaction, the insider now owns 38,010 shares in the company, valued at approximately $2,604,065.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Thierry Merlot sold 4,265 shares of the company’s stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $68.51, for a total value of $292,195.15. Following the completion of the sale, the insider now owns 38,010 shares in the company, valued at approximately $2,604,065.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Marilyn Minus sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $71.31, for a total transaction of $49,917.00. Following the completion of the transaction, the director now directly owns 3,672 shares of the company’s stock, valued at approximately $261,850.32. The disclosure for this sale can be found here. Insiders have sold 9,722 shares of company stock worth $676,077 in the last three months. 1.39% of the stock is currently owned by insiders.

Hexcel Company Profile

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Hexcel Corp. engages in the development, manufacture, and marketing of lightweight structural materials. It operates through the Composite Materials and Engineered Products segments. The Composite Materials segment includes carbon fiber, specialty reinforcements, resins, prepregs and other fiber-reinforced matrix materials, and honeycomb core product lines and pultruded profiles.