Hexcel Co. (NYSE:HXL) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in Hexcel Co. (NYSE:HXL) by 31.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 125,242 shares of the aerospace company’s stock after selling 56,795 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Hexcel were worth $9,237,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. BlackRock Inc. lifted its stake in shares of Hexcel by 1.2% in the 1st quarter. BlackRock Inc. now owns 9,171,181 shares of the aerospace company’s stock valued at $625,933,000 after purchasing an additional 112,122 shares during the last quarter. Morgan Stanley raised its holdings in shares of Hexcel by 838.6% in the 4th quarter. Morgan Stanley now owns 6,810,199 shares of the aerospace company’s stock valued at $400,780,000 after buying an additional 6,084,592 shares during the period. Earnest Partners LLC raised its holdings in shares of Hexcel by 1.1% in the 3rd quarter. Earnest Partners LLC now owns 4,344,230 shares of the aerospace company’s stock valued at $282,983,000 after buying an additional 47,591 shares during the period. State Street Corp raised its holdings in shares of 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 buying an additional 344,711 shares during the period. Finally, Eaton Vance Management raised its holdings in shares of Hexcel by 4.4% in the 1st quarter. Eaton Vance Management now owns 2,476,907 shares of the aerospace company’s stock valued at $147,301,000 after buying an additional 103,891 shares during the period. Institutional investors and hedge funds own 95.47% of the company’s stock.

Wall Street Analysts Forecast Growth

HXL has been the topic of several research analyst reports. Wells Fargo & Company boosted their price objective on Hexcel from $78.00 to $81.00 and gave the company an “equal weight” rating in a report on Wednesday, February 21st. Northcoast Research downgraded Hexcel from a “buy” rating to a “neutral” rating in a report on Wednesday, April 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $80.00 price objective on shares of Hexcel in a report on Wednesday, February 21st. Truist Financial upgraded Hexcel from a “hold” rating to a “buy” rating and boosted their price objective for the company from $62.00 to $96.00 in a report on Wednesday, January 10th. Finally, Morgan Stanley downgraded Hexcel from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $70.00 to $66.00 in a report on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hexcel has an average rating of “Hold” and a consensus price target of $77.14.

Hexcel Trading Up 0.4 %

HXL opened at $61.76 on Wednesday. Hexcel Co. has a one year low of $58.81 and a one year high of $79.08. The company has a market cap of $5.13 billion, a P/E ratio of 49.81, a PEG ratio of 1.29 and a beta of 1.23. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.68 and a current ratio of 2.74. The business’s 50-day simple moving average is $71.97 and its 200-day simple moving average is $69.65.

Hexcel (NYSE:HXL) last released its quarterly earnings data on Thursday, January 25th. The aerospace company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). Hexcel had a net margin of 5.91% and a return on equity of 9.31%. The business had revenue of $457.50 million during the quarter, compared to analysts’ expectations of $474.01 million. During the same quarter in the previous year, the company posted $0.40 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts expect that Hexcel Co. will post 2.23 EPS for the current fiscal year.

Hexcel Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Friday, February 9th were issued a $0.15 dividend. The ex-dividend date was Thursday, February 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.97%. This is an increase from Hexcel’s previous quarterly dividend of $0.13. Hexcel’s dividend payout ratio is presently 48.39%.

Insider Activity

In other news, insider Gina Fitzsimons sold 864 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $72.10, for a total value of $62,294.40. Following the transaction, the insider now owns 3,375 shares in the company, valued at approximately $243,337.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Thierry Merlot sold 4,500 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $71.63, for a total value of $322,335.00. Following the completion of the sale, the insider now directly owns 50,371 shares of the company’s stock, valued at approximately $3,608,074.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Gina Fitzsimons sold 864 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $72.10, for a total value of $62,294.40. Following the completion of the sale, the insider now directly owns 3,375 shares of the company’s stock, valued at $243,337.50. The disclosure for this sale can be found here. Company insiders own 1.85% of the company’s stock.

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.