Hexcel Co. (NYSE:HXL) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in Hexcel Co. (NYSE:HXL) by 46.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 465,642 shares of the aerospace company’s stock after buying an additional 147,930 shares during the quarter. Principal Financial Group Inc. owned 0.57% of Hexcel worth $29,079,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in Hexcel by 151.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 344,342 shares of the aerospace company’s stock worth $25,086,000 after buying an additional 207,434 shares during the last quarter. Trexquant Investment LP acquired a new position in Hexcel in the fourth quarter worth approximately $2,185,000. Evoke Wealth LLC acquired a new position in Hexcel in the fourth quarter worth approximately $2,036,000. Silvercrest Asset Management Group LLC grew its position in Hexcel by 32.2% in the first quarter. Silvercrest Asset Management Group LLC now owns 80,953 shares of the aerospace company’s stock worth $5,897,000 after buying an additional 19,736 shares during the last quarter. Finally, Seven Eight Capital LP acquired a new position in Hexcel in the first quarter worth approximately $1,109,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

Hexcel Trading Down 0.7 %

Shares of NYSE:HXL opened at $63.29 on Monday. The firm has a fifty day moving average of $63.66 and a two-hundred day moving average of $67.47. The firm has a market capitalization of $5.17 billion, a P/E ratio of 54.09, a price-to-earnings-growth ratio of 1.38 and a beta of 1.28. Hexcel Co. has a 12-month low of $58.81 and a 12-month high of $77.09. The company has a quick ratio of 1.55, a current ratio of 2.75 and a debt-to-equity ratio of 0.51.

Hexcel (NYSE:HXL) last released its quarterly earnings data on Thursday, July 18th. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. Hexcel had a net margin of 5.78% and a return on equity of 9.55%. The business had revenue of $500.40 million during the quarter, compared to analyst estimates of $484.26 million. During the same quarter in the previous year, the business earned $0.50 EPS. Hexcel’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities analysts expect that Hexcel Co. will post 2.08 EPS for the current fiscal year.

Hexcel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, August 2nd were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend was Friday, August 2nd. Hexcel’s payout ratio is presently 51.28%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Morgan Stanley lowered their price objective on shares of Hexcel from $63.00 to $61.00 and set an “underweight” rating on the stock in a research report on Monday, July 22nd. UBS Group lowered their price objective on shares of Hexcel from $73.00 to $71.00 and set a “neutral” rating on the stock in a research report on Monday, July 1st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Hexcel from $70.00 to $68.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. Truist Financial lowered their price objective on shares of Hexcel from $88.00 to $81.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada cut shares of Hexcel from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $76.00 to $68.00 in a research report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Hexcel has an average rating of “Hold” and a consensus price target of $74.54.

About Hexcel

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.