Raymond James Financial Services Advisors Inc. grew its holdings in Hexcel Co. (NYSE:HXL – Free Report) by 34.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,185 shares of the aerospace company’s stock after purchasing an additional 1,853 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Hexcel were worth $546,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. Arcadia Investment Management Corp MI acquired a new stake in Hexcel in the 1st quarter valued at about $25,000. Machina Capital S.A.S. purchased a new position in Hexcel during the 1st quarter worth approximately $27,000. Impact Partnership Wealth LLC acquired a new stake in Hexcel during the 2nd quarter worth approximately $39,000. Parallel Advisors LLC lifted its position in Hexcel by 71.4% during the 1st quarter. Parallel Advisors LLC now owns 732 shares of the aerospace company’s stock worth $50,000 after acquiring an additional 305 shares during the period. Finally, Belpointe Asset Management LLC lifted its position in Hexcel by 45.2% during the 1st quarter. Belpointe Asset Management LLC now owns 784 shares of the aerospace company’s stock worth $53,000 after acquiring an additional 244 shares during the period. Institutional investors and hedge funds own 94.71% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently commented on HXL. Wells Fargo & Company raised their price target on Hexcel from $71.00 to $77.00 in a report on Wednesday, July 26th. StockNews.com began coverage on Hexcel in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft began coverage on Hexcel in a research report on Wednesday, September 27th. They set a “hold” rating and a $70.00 price target for the company. UBS Group began coverage on Hexcel in a research report on Tuesday, October 10th. They set a “buy” rating and a $81.00 price target for the company. Finally, Truist Financial reduced their price objective on Hexcel from $73.00 to $71.00 in a research note on Wednesday, July 26th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $74.33.
Hexcel Stock Up 1.9 %
Shares of Hexcel stock opened at $61.91 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 3.03 and a debt-to-equity ratio of 0.46. The firm has a market cap of $5.21 billion, a P/E ratio of 32.93, a P/E/G ratio of 1.03 and a beta of 1.24. Hexcel Co. has a fifty-two week low of $53.73 and a fifty-two week high of $79.08. The business has a 50-day moving average price of $67.47 and a 200 day moving average price of $70.49.
Hexcel (NYSE:HXL – Get Free Report) last posted its earnings results on Tuesday, October 24th. The aerospace company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.05). The company had revenue of $419.50 million for the quarter, compared to the consensus estimate of $427.06 million. Hexcel had a net margin of 9.14% and a return on equity of 9.36%. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period last year, the company posted $0.33 earnings per share. On average, sell-side analysts forecast that Hexcel Co. will post 1.89 earnings per share for the current fiscal year.
Hexcel Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Friday, November 3rd will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Thursday, November 2nd. Hexcel’s dividend payout ratio (DPR) is 26.60%.
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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