Commonwealth Equity Services LLC lowered its stake in Hexcel Co. (NYSE:HXL – Get Rating) by 31.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,179 shares of the aerospace company’s stock after selling 33,447 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.09% of Hexcel worth $4,292,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Bank of New Hampshire purchased a new position in Hexcel in the 1st quarter worth about $33,000. Ellevest Inc. grew its stake in Hexcel by 128.1% during the 1st quarter. Ellevest Inc. now owns 568 shares of the aerospace company’s stock valued at $34,000 after acquiring an additional 319 shares in the last quarter. Pinebridge Investments L.P. purchased a new position in Hexcel during the 4th quarter valued at about $62,000. Richelieu Gestion PLC purchased a new position in Hexcel during the 1st quarter valued at about $114,000. Finally, Private Capital Group LLC grew its stake in Hexcel by 21.3% during the 1st quarter. Private Capital Group LLC now owns 2,164 shares of the aerospace company’s stock valued at $129,000 after acquiring an additional 380 shares in the last quarter. Hedge funds and other institutional investors own 97.57% of the company’s stock.
Analyst Ratings Changes
HXL has been the topic of several research analyst reports. Wells Fargo & Company lifted their target price on Hexcel to $63.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. Vertical Research lifted their target price on Hexcel to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. BMO Capital Markets lifted their target price on Hexcel from $57.00 to $66.00 and gave the company a “market perform” rating in a research note on Tuesday. Royal Bank of Canada lifted their price target on Hexcel from $55.00 to $60.00 in a report on Wednesday, April 27th. Finally, Morgan Stanley lifted their price target on Hexcel from $57.00 to $59.00 and gave the company an “underweight” rating in a report on Friday, July 29th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Hexcel currently has a consensus rating of “Hold” and an average target price of $58.30.
Hexcel Stock Down 0.0 %
Hexcel (NYSE:HXL – Get Rating) last posted its earnings results on Monday, July 25th. The aerospace company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.03. Hexcel had a return on equity of 4.79% and a net margin of 6.12%. The firm had revenue of $393.00 million during the quarter, compared to analyst estimates of $391.89 million. During the same period in the previous year, the company earned $0.08 EPS. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. Research analysts forecast that Hexcel Co. will post 1.2 EPS for the current year.
Hexcel Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Friday, August 5th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, August 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.65%. Hexcel’s dividend payout ratio (DPR) is presently 37.38%.
Hexcel Corporation, together with its subsidiaries, develops, manufactures, and markets structural materials for use in commercial aerospace, space and defense, and industrial markets. It operates through two segments, Composite Materials and Engineered Products. The Composite Materials segment manufactures and markets carbon fibers, fabrics and specialty reinforcements, prepregs and other fiber-reinforced matrix materials, structural adhesives, honeycomb, molding compounds, tooling materials, polyurethane systems, and laminates that are used in military and commercial aircraft, wind turbine blades, recreational products, and other industrial applications, as well as in automotive, marine, and trains.
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