Hexcel Corporation (NYSE:HXL) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers lessened its position in shares of Hexcel Corporation (NYSE:HXL) by 39.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,052 shares of the aerospace company’s stock after selling 7,909 shares during the quarter. Cetera Investment Advisers’ holdings in Hexcel were worth $660,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Avantax Advisory Services Inc. lifted its holdings in Hexcel by 4.0% during the first quarter. Avantax Advisory Services Inc. now owns 31,042 shares of the aerospace company’s stock valued at $1,700,000 after purchasing an additional 1,187 shares in the last quarter. Goepper Burkhardt LLC raised its stake in shares of Hexcel by 27.9% in the 1st quarter. Goepper Burkhardt LLC now owns 9,622 shares of the aerospace company’s stock valued at $527,000 after acquiring an additional 2,100 shares during the period. Oak Thistle LLC raised its holdings in shares of Hexcel by 18.2% in the 1st quarter. Oak Thistle LLC now owns 22,651 shares of the aerospace company’s stock valued at $1,240,000 after buying an additional 3,482 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Hexcel in the 1st quarter valued at $2,842,000. Finally, Jennison Associates LLC grew its holdings in shares of Hexcel by 10,767.3% in the first quarter. Jennison Associates LLC now owns 392,091 shares of the aerospace company’s stock valued at $21,471,000 after purchasing an additional 388,483 shares in the last quarter. 95.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on HXL. Truist Financial lowered their price target on shares of Hexcel from $73.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company reduced their price target on shares of Hexcel from $55.00 to $53.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Wall Street Zen downgraded shares of Hexcel from a “buy” rating to a “hold” rating in a research report on Sunday, April 27th. UBS Group upped their price objective on shares of Hexcel from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, July 28th. Finally, BMO Capital Markets upped their price objective on shares of Hexcel from $52.00 to $67.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 29th. One equities research 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $63.33.

Hexcel Price Performance

Shares of NYSE HXL opened at $61.86 on Friday. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 57.28, a PEG ratio of 2.07 and a beta of 1.36. Hexcel Corporation has a 52 week low of $45.28 and a 52 week high of $71.05. The company’s 50-day moving average price is $58.70 and its 200 day moving average price is $57.06. The company has a current ratio of 2.69, a quick ratio of 1.50 and a debt-to-equity ratio of 0.53.

Hexcel (NYSE:HXL) last released its quarterly earnings results on Thursday, July 24th. The aerospace company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.04. Hexcel had a net margin of 4.69% and a return on equity of 9.76%. The company had revenue of $489.90 million for the quarter, compared to analysts’ expectations of $482.20 million. During the same period last year, the company earned $0.60 EPS. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, research analysts forecast that Hexcel Corporation will post 2.14 earnings per share for the current fiscal year.

Hexcel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 8th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, August 8th. Hexcel’s payout ratio is 62.96%.

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.