Rhumbline Advisers Sells 4,023 Shares of Hexcel Co. (NYSE:HXL)

Rhumbline Advisers trimmed its stake in Hexcel Co. (NYSE:HXL) by 1.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 274,485 shares of the aerospace company’s stock after selling 4,023 shares during the period. Rhumbline Advisers owned 0.33% of Hexcel worth $18,734,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in HXL. Arcadia Investment Management Corp MI bought a new position in shares of Hexcel in the 1st quarter valued at approximately $25,000. Machina Capital S.A.S. bought a new position in Hexcel in the 1st quarter worth approximately $27,000. Belpointe Asset Management LLC bought a new position in Hexcel in the 4th quarter worth approximately $32,000. CI Investments Inc. increased its position in Hexcel by 12,520.0% in the 4th quarter. CI Investments Inc. now owns 631 shares of the aerospace company’s stock worth $37,000 after buying an additional 626 shares during the period. Finally, Assetmark Inc. increased its position in Hexcel by 35.0% in the 4th quarter. Assetmark Inc. now owns 621 shares of the aerospace company’s stock worth $37,000 after buying an additional 161 shares during the period. 94.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wells Fargo & Company lifted their price target on Hexcel from $71.00 to $77.00 in a research report on Wednesday, July 26th. StockNews.com initiated coverage on Hexcel in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Truist Financial lowered their price objective on Hexcel from $73.00 to $71.00 in a research report on Wednesday, July 26th. Wolfe Research upgraded Hexcel from a “peer perform” rating to an “outperform” rating and set a $83.00 price objective on the stock in a research report on Thursday, August 17th. Finally, BMO Capital Markets lowered their price objective on Hexcel from $74.00 to $73.00 and set a “market perform” rating on the stock in a research report on Monday, August 7th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Hexcel presently has an average rating of “Hold” and an average target price of $75.22.

Hexcel Trading Up 0.7 %

HXL stock opened at $73.19 on Thursday. The company has a market cap of $6.18 billion, a P/E ratio of 42.06 and a beta of 1.22. Hexcel Co. has a twelve month low of $50.00 and a twelve month high of $79.08. The company has a quick ratio of 1.63, a current ratio of 2.93 and a debt-to-equity ratio of 0.47. The business has a fifty day moving average of $72.53 and a 200-day moving average of $71.33.

Hexcel (NYSE:HXL) last released its earnings results on Tuesday, July 25th. The aerospace company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $454.30 million during the quarter, compared to the consensus estimate of $450.15 million. Hexcel had a return on equity of 9.40% and a net margin of 8.73%. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 earnings per share. As a group, equities research analysts expect that Hexcel Co. will post 1.92 EPS for the current year.

Hexcel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Friday, August 4th were issued a $0.125 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.50 dividend on an annualized basis and a yield of 0.68%. Hexcel’s dividend payout ratio is presently 28.74%.

Insider Activity at Hexcel

In related news, insider Gail E. Lehman sold 1,571 shares of the company’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $70.15, for a total value of $110,205.65. Following the completion of the sale, the insider now owns 6,942 shares in the company, valued at $486,981.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is currently owned by corporate insiders.

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.