Sumitomo Mitsui Trust Group Inc. raised its position in Hexcel Corporation (NYSE:HXL – Free Report) by 10.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,205 shares of the aerospace company’s stock after purchasing an additional 492 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Hexcel were worth $285,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. NBC Securities Inc. bought a new stake in shares of Hexcel in the 1st quarter valued at approximately $61,000. Parvin Asset Management LLC acquired a new stake in Hexcel in the fourth quarter valued at approximately $66,000. Farther Finance Advisors LLC grew its position in Hexcel by 71.2% in the first quarter. Farther Finance Advisors LLC now owns 1,200 shares of the aerospace company’s stock worth $66,000 after acquiring an additional 499 shares in the last quarter. Huntington National Bank grew its position in Hexcel by 21.4% in the fourth quarter. Huntington National Bank now owns 1,159 shares of the aerospace company’s stock worth $73,000 after acquiring an additional 204 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in shares of Hexcel by 61.8% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,272 shares of the aerospace company’s stock worth $80,000 after purchasing an additional 486 shares during the last quarter. 95.47% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the stock. Morgan Stanley reduced their price objective on shares of Hexcel from $61.00 to $50.00 and set an “underperform” rating for the company in a research note on Friday, April 11th. Truist Financial cut their target price on Hexcel from $73.00 to $67.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Royal Bank Of Canada decreased their price target on Hexcel from $70.00 to $62.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. UBS Group lowered their price objective on Hexcel from $53.00 to $51.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. Finally, Wall Street Zen lowered Hexcel from a “buy” rating to a “hold” rating in a report on Sunday, April 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $58.67.
Hexcel Stock Down 0.4%
HXL opened at $57.30 on Friday. The business has a 50 day moving average of $53.87 and a 200-day moving average of $57.92. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 37.95, a P/E/G ratio of 1.88 and a beta of 1.28. The company has a current ratio of 2.59, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. Hexcel Corporation has a 1-year low of $45.28 and a 1-year high of $71.05.
Hexcel (NYSE:HXL – Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The aerospace company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.06). Hexcel had a net margin of 6.60% and a return on equity of 10.36%. The company had revenue of $456.50 million during the quarter, compared to the consensus estimate of $482.18 million. During the same period last year, the company earned $0.44 earnings per share. As a group, sell-side analysts anticipate that Hexcel Corporation will post 2.14 earnings per share for the current year.
Hexcel Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, May 2nd were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.19%. Hexcel’s dividend payout ratio is currently 45.03%.
Hexcel 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.
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